In a rapidly evolving job market, understanding current salary trends and employee priorities is crucial for both employers and employees. The 2024 Salary Survey for Engineering and Manufacturing, offers comprehensive insights into the latest salary averages, key factors influencing job decisions, and sector-specific trends. Whether you're an employer striving to attract and retain top talent, or a professional seeking to navigate your career path, this survey provides valuable data and analysis to help you make informed decisions.
Manufacturing and Engineering Industry Overview
The engineering and manufacturing sectors are facing a significant skills gap, with 85% of companies struggling to find the necessary skills (CIPD, 2024). This challenge underscores the importance of understanding current salary trends and what employees value beyond their pay checks.
UK Average Salaries for 2024 - Engineering and Manufacturing
- Engineering: £64,869 (13% increase from 2023)
- Manufacturing: £49,721 (6.9% increase from 2023)
The salary increases reflect the ongoing demand for skilled professionals in these fields. However, the cost-of-living crisis continues to impact workers, emphasizing the need for competitive compensation and benefits.
Key Factors Influencing Job Decisions
While salary remains a critical factor, employees are increasingly prioritizing other aspects of their work environment:
- Working Hours: 39%
- Pension: 34%
- Holidays: 8%
- Training and Progression: Essential for employee satisfaction and retention
The 2024 Salary Survey and Key Insights report highlights the evolving priorities of employees in the Engineering and Manufacturing sectors. While competitive salaries are crucial, benefits such as flexible working hours, pensions, and training opportunities play a significant role in job satisfaction and retention. Employers must adapt to these changing preferences to attract and retain top talent in a challenging market.
For more detailed information and insights, visit Theo James Recruitment or contact us directly. Stay informed, stay competitive, and navigate the future of work with confidence. Head to salary survey by clicking here
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