Pay and conditions in engineering 2003/04

PAY DATA

Pay and conditions in engineering 2003/04

Almost half of engineering companies in a new survey by Incomes Data Services use some form of variable pay to reward higher levels of performance.

IDS found that by far the most widespread approach was company-wide or other profit-based schemes. A fifth of survey participants operate such schemes and many of these paid bonuses on an annual basis as a percentage of salary.

Individual performance payments few and far between . . .

But few engineering companies -- one in 16 -- make additional payments based on the performance of individual employees.

. . . as are plant productivity targets

The engineering industry has seen a move away from simple productivity-based bonus schemes and an increase in the use of plans that link payments to a range of performance measures such as quality, teamwork, absence rates, profits and cost reduction.

What you will find in this report by Incomes Data Services

This 190-page report provides a comprehensive picture of current trends in pay and benefits in the engineering industry. It also includes numerous examples of pay structures and other examples of employment practice at leading engineering employers.

Analysis of pay Average pay rates for semi-skilled, skilled and multi-skilled craft workers, staff technicians, and professional engineers, including software engineers, sales and customer service engineers. Examples of pay rates for key jobs in named companies and full pay structures and terms and conditions from over 50 leading engineering companies. Analysis of 172 pay settlement levels during 2002/03 and a look at the forthcoming increases due under long-term deals.

Working time Current trends in working time -- a move to 37 hours. Use of flexible working time schemes -- impact of recent legislation allowing parents to request to work more flexible working hours. Holiday entitlement, shift and overtime premiums.

Pension provision   Types of pension benefits offered to new employees.

Bonus schemes Changing nature of bonus schemes. Examples of targets and payments in named companies.

Maternity and paternity benefits Enhancements made in excess of statutory provisions

Directory of pay and conditions Listing of pay structures and latest collective agreements in 60 named companies.

Want to know more?

Title: Pay and Conditions in Engineering 2003/04, Incomes Data Services.

Survey sample: This report is based on two main sources. First, a survey of pay and conditions for manual workers, technical staff and professional engineers in 79 companies employing more than 115,000 people. Second, the report incorporates details of pay and conditions at leading companies gathered as part of the regular pay monitoring activities undertaken by IDS during the course of the year. In total, the study is based on information received from nearly 130 companies with a combined workforce of 300,000 employees.

Availability: Call IDS customer services in London, tel: 020 7250 3434. To read the report's full contents list go to www.incomesdata.co.uk/report/engdoc.htm

Incomes Data Services is an independent research organisation providing information and analysis on pay, conditions, pensions, employment law and personnel policy and practice in the UK and rest of Europe. For more information about IDS jump to www.incomesdata.co.uk

Posted 10 November 2003