Manufacturing sector pay and reward benchmarking

On the back of the initial impetus from Dave Bain, MD of Colorcon, it’s been fascinating working with members of the Kent Manufacturing Forum to construct a pay survey for a number of key roles.

Labour is a key challenge in the sector in terms of attraction, recruitment, and retention and whilst Kent Manufacturers are embracing further education and investment in kit, it’s clear that people remain a critical asset in the SME segment.

Thank you to the many who provided input enabling the following feedback.

Without doubt, there are numerous and varied job descriptions within each heading, but hopefully, this guide will enable a degree of benchmarking.

I’m constantly talking to Kent manufacturers as they seek ways to improve profitability and business value. Feel free to join the conversation…”
Rodney Sutton – Advisory and Assurance Partner, and Head of Manufacturing

The survey has also thrown up the desire to avoid staff churn – which is expensive and disruptive. Many SMEs are providing healthy pension contributions, four-figure bonuses, healthcare membership, life cover, uniforms/PPE and up to 28 days holiday.

Along with supply chain challenges (price & logistics), staff remain a huge focus. For any SME rebuilding its value and its balance sheet post-COVID, it will need to protect and enhance production capability and hardworking, knowledgeable, and motivated people will play a major role.

In my conversations with the survey participants; I’m convinced Kent Manufacturers are rebuilding enterprise value… we’re bouncing back!”
Shaun Kelly, Corporate Finance Consultant