2008 Wage and Benefits Survey Results Announced

Contact:
Debbie McCarty, Director of the Barren River Workforce Investment Act
Barren River Area Development District
270-781-2381; debbie@bradd.org

Jessica M.L. Thompson, Communications Director
Bowling Green Area Chamber of Commerce
270-781-3200; jessica@bgchamber.com

BOWLING GREEN, KY-The results of the 2008 Kentucky Association of Manufacturers (KAM) Wage and Benefits Survey were released today at a news conference at the Barren River Area Development District (BRADD) Office in Bowling Green. BRADD, the Bowling Green Area Chamber of Commerce and the South Central Kentucky regional partnership sponsored the survey, along with financial supporters Barren Industrial Development Economic Authority (IDEA), Edmonton-Metcalfe Industrial Development Commission, Logan Economic Alliance for Development (LEAD), and Scottsville/Allen County Industrial Development Authority.

KAM has administered the wage and benefits survey since 1911. Jim LeMaster, KAM president and CEO, emphasized the importance of the survey results, saying, "Now, more than ever, it is vitally important that KAM helps you control costs, especially in the all important wage and benefits area. We compete with low-wage nations like China, India and Mexico and must always ensure we are compensating our employees fairly and competitively with peer companies. If you pay more than market, it can unnecessarily cost you thousands of dollars. If you pay less than market, good, well-trained employees will leave your company and go elsewhere."

One hundred forty-seven organizations participated in KAM's 2008 Wage & Benefit Survey, contributing wage information for more than 25,000 exempt and non-exempt employees. The survey was conducted by IQS Research of Louisville (www.iqsresearch.com), and information was collected and compiled during the period of September 2008 through February 2009.

The Kentucky manufacturing industry is, by more than a two-to-one margin, the number one contributor to the state gross product, producing $29 billion in goods and accounting for 19 percent of Kentucky's Gross Domestic Product. The industry employs about 248,000 workers.

Debbie McCarty, director of the Barren River Workforce Investment Act at BRADD, is pleased again this year to be a sponsor of the KAM 2008 Wage and Benefits Survey, saying that the information provided throughout the survey is an excellent guide and information resource tool to be used by our regional industries.

This is the second year that the South Central Kentucky regional partnership has co-sponsored the survey. Miller Slaughter, director, regional development for the Bowling Green Area Chamber of Commerce, said, "The Chamber and the South Central Kentucky partnering organizations were pleased to be a part of this survey once again this year. We work hard to provide valuable resources for our existing industries and for those looking to locate here, and this survey is one such resource."

The survey findings are broken down by nine geographic regions and by state. The Southern Kentucky region included 16 counties: Adair, Allen, Barren, Butler, Christian, Cumberland, Edmonson, Green, Hart, Logan, Metcalfe, Monroe, Simpson, Taylor, Todd and Warren. Fifty-one companies in the Southern Kentucky region participated in the survey. Some of the results from their participation are as follows:

• The 40-hour workweek is still the most frequently indicated standard among the respondents, with 74.5% indicating this as the norm.
• When asked about the number of shifts worked, 43.1% said three shifts, 29.4% said two shifts, and 7.8% said one shift.
• The respondents reported fairly low turnover rates in 2006, with 43.1% of the companies reporting turnover rates between 1-10% annually. Another 17.6% reported turnover rates between 11- 20%, and 13.7% of companies reported turnover rates between 21-30%.

Visit www.kamanufacturers.com for information on how to obtain a copy of the 2008 KAM Wage and Benefits Survey.