News Release

October 1st, 2008

FOR IMMEDIATE RELEASE

CONTACT:
Martin A. Kish
(502) 352-2485 - Office
(859) 351-8420 - Mobile

KAM 2009 Wage and Benefits Survey Now Open
for On-Line Data Entry

Frankfort - Kentucky manufacturers can now go on-line to input wage and benefits data for the Kentucky Association of Manufacturers (KAM) 2009 Wage and Benefits Survey, which will be released next January, according to Ruth Billings, director of operations.

Last year's survey revealed the annual base salary for the average Kentucky manufacturing employee reached $45,094 - up 3.7 percent compared to the year before - and $15,375 more than the per capita income of $29,719 for all Kentuckians. Nearly 200 Kentucky manufacturers representing all regions of the state took part in the 2008 survey. KAM has administered the Wage and Benefits Survey since 1911.

This year, those companies who input their data on-line (for information, go to www.kamanufacturers.com) will receive a free copy of the results. Companies that do not input data must purchase a copy of the results through KAM at $350 for members and $450 for non-KAM members.

"We are very excited about the 2009 Wage and Benefits Survey," says Billings. "We will continue to partner with IQS Research of Louisville, who helped us make improvements that all survey users have liked."

"Last year, 86 percent of survey-takers told us they would prefer to take the survey on-line instead of on paper," Billings says. "That's why we will continue to take that approach this year. Of course, if some companies want to take it on paper, we will accommodate them."

Other positive changes will continue. "Regional customization was well-received, which helps employers get a better read on what peer companies are paying in wages and benefits," Billings says. "We will also continue to include a three-year trend report. Results for the 2009 survey report will be compared to the previous two years in a graphic and easy-to-use format."

"We plan on keeping the survey open on-line through the end of November," Billings says. "But don't wait until a few days before the deadline to begin inputting your data...it will be too late."

KAM members and past survey takers will receive communication from KAM and IQS Research from now through November. "We want as many companies to take the survey as possible to further validate the data," Billings says.

Why take the survey? "One of the goals of KAM is to help the manufacturing industry lower its costs so we can better compete in the global marketplace," says Billings. "That's why it's important that Kentucky manufacturers to not overpay...or underpay...wages and benefits. The 2009 Kentucky Wage and Benefits Survey will help them pay at market in their area or region."

To get more information about the 2009 KAM Wage and Benefits Survey, go to www.kamanufacturers.com and click on the 2009 Wage Survey icon on the home page.

Other findings of the 145-page, 2008 report included:

  • The 40-hour workweek is still the most frequently indicated standard among the respondents, with 63.3% indicating this as the norm.
  • Nearly one-third of the responding manufacturers reported they work three shifts.
  • Almost 40 percent award bonuses or incentive compensation. Among these companies, nearly 72% linked the bonus award to the company's performance.
  • Most of the respondents said they provide some form of health insurance, dental coverage and a prescription drug plan for their employees.
  • Of the companies who indicated they experienced increased health insurance costs over the previous year, nearly 55% indicated increases ranging between 6 and 20 percent.
  • More than half said they offer a 401(k) savings plan for their employees.
  • Nearly 26% of the respondents say the per-employee cost of benefits is at least 25-34 percent of base salary.

About KAM
Established in 1911, the Kentucky Association of Manufacturers is the Commonwealth’s only manufacturing trade association. KAM’s mission is to raise the prosperity of all Kentuckians by protecting and growing our state’s economic engine: manufacturing. KAM proactively works with elected officials, policymakers, chambers of commerce, other associations, economic development experts, the news media, the general public and its own members to drive results through eight branded initiatives: ProsperousKentuckysm, ProductiveKentuckysm, FreedomKentuckysm, SmartKentuckysm, HealthyKentuckysm, HonestKentuckysm, MarketKentuckysm and CleanKentuckysm. On the web at www.KAManufacturers.com