Failing to keep up with wages & benefits can easily cost a firm thousands $$$, and that’s why NPRC decided to move ahead late this fall and conduct its latest industry survey – The 2017-2018 Wage & Benefits Survey.
The new, just-released Wage & Benefits Study, covering 22 key positions in our industry, is packed with valuable information pertaining to wages, salaries and benefits offered by printers from across the U.S.
Like all surveys published by NPRC, firms that participated in the survey and submitted their survey form by the Oct. 31st deadline received their complimentary copy of the study on or about Nov. 30, 2016.
You can order this study now by visiting the NPRC bookstore. Retail Price: $179; NPRC Member Price: $89.50. All publications published by NPRC are sold on a 100% Money-Back guarantee! No questions asked!
Below are a few of the graphs included in this latest NPRC Study.
The distribution of survey participants by reported SPE is quite similar to what has been reported in previous industry surveys and studies.
Owners were asked to provide their level of profitability. The resulting data was graphed accordingly. Approximately 45% of our respondents told us they were either “above average” or “high profit firms”.
We took the SPE data provided by respondents and ranked it from low to high; next, we divided the list of 280+ firms into four approximate quartiles or quarters and then averaged the result of each quartile. Above is the resulting data.
This chart simply illustrates the number of individual positions for which wage, salary and benefit data was provided. As an example, 125 of our responding firms provided data on the position we described as, “Sr. Graphics & Pre-Press.” Both average and median wage data is provided in this study.
According to new research data recently gathered by NPRC, the average SPE in the printing industry has now reached almost $140,000. Put another way, if your SPE is less than $140,000 your firm would now fall into the bottom half of the industry when compared to your peers, according to findings in the soon-to-be-released 20176-2018 Quick Printing Industry Wage & Benefits Study.
Highlighting the direct relationship between SPE and profitability, NPRC sorted the data gathered from our latest Wage & Benefits Study and found that firms reporting the highest profits (20% or higher) reported average sales per employee of $152,000, while firms reporting profitability of less than 6% reported average SPE of $104,000, or an SPE 31% lower than those at the top!
The direct relationship between SPE and Profitability – “There is little doubt in my mind that there is and always has been a direct relationship between SPE and profitability in this industry. Without high SPEs it is almost impossible to achieve high levels of profitability,” notes John Stewart, NPRC Executive Director. “Owners need to quit rationalizing that they can somehow increase productivity while living with a below average SPE.” (Read more about this relationship and how you can quickly improve your SPE in upcoming articles to be posted on this NPRC website.)
NPRC is putting finishing touches on its latest Wage & Benefits Study where in you can find more detail on the findings noted above. The new research study is based upon responses from more than 180 participants and is packed with wage and salary information covering 22 of the most common positions in our industry.
Check back soon for a more detailed analysis on SPE and how you can improve it in 60 days or less!