Pay rises resume for manufacturing workers

CloseBrosGee300A third of the UK’s smaller manufacturing businesses surveyed by the Close Brothers Business Barometer have rewarded their staff with pay rises over the last 12 months.

Among them, almost two thirds said that the increases were in line with inflation, while a further one in 20 stated pay rises were above the rate of inflation.

Steve Gee (pictured) managing director of the firm’s manufacturing division said it was encouraging to learn that employees within the manufacturing sector were beginning to see an increase in their pay packets.

“The last few years have been challenging to say the least, hopefully this is a sign that things have begun to pick up,” he added.

The Business Barometer has also revealed that almost 21% of manufacturing firms anticipate giving staff a pay rise within the next 12 months.

The survey also showed that almost one in ten manufacturing firms had been declined access to bank lending in the past six months, and a further one in ten admitted that while they had identified opportunities for growth, they had been unable to take advantage of them due to a lack of adequate funding.

This material is protected by copyright Ken Hurst 2013.

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About Ken Hurst

Ken Hurst began his career as a journalist in London over 30 years ago, working on a range of publications before moving on to weekly newspaper production in the newly-independent Zambia of the 1970s. He returned to the UK where his work included spells on newspapers and magazines, before moving to head up Norwich Union’s corporate affairs division. In the 1990s he moved on to freelance, co-own and publish the B2B audio magazine Sound and front the BBC radio Yesterday’s Papers programme. There followed six years as Business Editor at Britain’s biggest selling regional daily newspaper, The Eastern Daily Press, where he led an award-winning team and for whom he still writes a weekly socio/political comment column. Subsequently, he was Group Editorial Director at CBM, responsible for its UK and US magazine output – including The Manufacturer magazine – research-driven industry reports and live events content. Currently he is Contributing Editor at Works Management magazine publisher Findlay Media and Chairman of the consumer publishing house TNT Multimedia Ltd. He is a Fellow of the Royal Society of Arts and of the British Association of Communicators in Business.
This entry was posted in Finance, Manufacturing management, Pay and tagged . Bookmark the permalink.

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