8 minute read
BENCHMARKING
ARE WORKFORCE WOES IMPROVING? DATA POINTS TO POSITIVE INDICATORS
by Rachael Pfenninger, director of strategic execution, AMBA
As Americans nationwide experience the pinch of inflation, wages continue to be an increasingly hot topic of conversation. Paired with the persistent labor issue (an industry-wide challenge made worse by the coronavirus pandemic), employers are scrambling to see how they can remain competitive in the war for qualified labor. US mold building facilities across 23 states. Of the four regions represented, the Midwest accounted for the largest percentage of respondents (80%), the bulk of which hail from Michigan, Wisconsin and Illinois.
To help US mold manufacturers better understand the labor landscape and benchmark their wage standards against others in the industry, AMBA again has completed and published its annual Wage and Salary Report. The 2022 AMBA Wage and Salary Report (now in its 12th year of publication) is the nation’s most comprehensive study of wage data, analyzing starting and average salary and wage benchmarks for over 50 job classifications within mold manufacturing. Additionally, the report benchmarks information related to cost-ofliving increases (recent and forecasted), vacation benefits, employee incentives, salary adjustment opportunities, hiring expectations, employee demographics and more. Of these respondents, the majority (84%) intend to hire new employees over the next 12 months (See Chart 1). Although manufacturers reported the need to hire at least one administrative and management position each, technical vacancies were by far the highest priority. On average, companies reported the need to fill a minimum of three vacancies; this rises to five or more for companies producing $10 million or more in revenue.
This year’s report is based on data provided by executives, human resource leaders and finance professionals in 107
Chart 1 Although the need to fill vacancies is not a new challenge, what is remarkable is that the number of companies seeking new hires has risen by four percentage points and now is at its highest point of the last five years. What makes this even more interesting is that, while hiring labor certainly continues to be a challenge, other data is pointing to some industry improvement. For example, although the number of companies needing to hire has risen, the average number of current employees per facility also has risen for the first time in several years, breaking a three-year decline (See Chart 2).
To further the good news, there also is a positive upward trend in employees aged 18 to 50. For the first time since the years before 2018, as shown in Chart 3, this age demographic makes up 64% of the survey’s reported workforce – three percentage points higher than data from 2020 and 2018 (the past two recent peaks) and within six percentage points of levels last seen in 2006.
To see an upward trend in overall employment and a fall in the average age points toward significant
Chart 3 Companies didn’t just focus on benefits for existing employees. Nearly three-quarters of respondents provided or currently provide a signing bonus (totaling anywhere from $160 to $3,000), while an even higher percentage of survey respondents enticed new hires with offerings of increased insurance coverage, expanded PTO policies and employee development opportunities.
improvement within the industry in terms of workforce development. Because it is well-documented that employers are struggling to provide wages that mirror rising economic inflation1, workforce development improvements may be due instead to employers’ willingness to provide additional salary adjustment opportunities, cost-of-living increases and employee incentives. While nearly every mold manufacturer provides merit increases, eight out of 10 mold manufacturers surveyed reported providing salary adjustments across the board and/or cost-of-living adjustments (COLA) in 2022. When asked specifically for details regarding COLA for employees, companies reported an average increase of 3% in 2022 and an average planned increase of 2% in 2023. For many years, fears of an aging workforce have been plaguing the mold manufacturing industry. With this reported data, however, it looks like the tide may be due to turn as employers look to new opportunities to attract labor and keep their existing workforce.
To learn more about wage fluctuations by position and market segment for the 50+ roles featured in the 2022 AMBA Wage and Salary Report, visit www.amba.org. The report is available for $299 to members and $499 to non-members.
References
1. https://www.weforum.org/agenda/2022/06/wages-why-are-theynot-keeping-up-with-inflation
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[1] HASCO EXTENDS COOLING RANGE AND LAUNCHES POSITIONING WEDGES
As a full-service provider for tool and moldmaking, HASCO America, Inc., Fletcher, North Carolina, extended its stainless-steel cooling range of more than 30 product groups, ensuring the reliable cooling of injection molds when using hot or cold water or heat-transfer oil. Manufactured from high-quality 1.4305 material, the robust, safe and easily coupled system guarantees reliable, leak-proof and durable temperature-control applications. In addition, HASCO launched new positioning wedges Z1855 – easy to assemble and disassemble with their extraction threads in the throughholes. The wedges offer good conditions for fast and precise fixing of mold inserts in injection molds and help to reduce set-up times. For more information, www.hasco.com.
[2] HEIDENHAIN LAUNCHES THE TD 110
HEIDENHAIN, Schaumburg, Illinois, a developer and manufacturer of linear and angle encoders, rotary encoders, digital readouts and CNC controls, has launched its new TD 110 tool breakage detector. Providing contact-free inspection of drill bits and end mills, the TD 110 can determine if a tool is broken off by more than 2 mm as it passes within a machine tool, yielding significant time and money savings. Benefits of the TD 110 include a maintenance-free sensor for reducing non-productive time for breakage inspection, cooling lubricant and lightly contaminated tools that are tolerated and universally retrofittable. For more information, visit www.heidenhain.us.
[3] PCS RELEASES NEW MOLD CLAMPS AND ANNOUNCES MIN-LUBE™ DISTRIBUTION
PCS Company, Fraser, Michigan, a provider of solutions and innovative products for plastic injection molding, moldmaking and die casting industries, has released the new Forged Quick Adjusting Arching Mold Clamps that provide faster, more reliable and accurate clamping of a mold or die. The clamps are an extra wide, closed-toe design with the pivoting action of one bolt and sliding washer to reduce mold change time. PCS also announced its distribution of MIN-LUBE™, an advanced universal lubrication product designed for extreme high-temperature, high-wear mold and die applications. For more information, visit www.pcs-company.com. [4] PROGRESSIVE COMPONENTS INTRODUCES NEW MOLD STANDARDS AND PROFILE® V4
Progressive Components, Wauconda, Illinois, introduced new standards to improve mold performance, including plate sequencing (plate retainers and plate locks), undercut release (C-Series UniLifters®), mold handling (RhinoFeet™) and mold monitoring (high-temperature mold CounterViews®). Additionally, Progressive Components introduced ProFile® v4, a cloud-based tracking system designed for OEMs, molders and mold builders to organize and track tooling activity. For more information, visit www.procomps.com.
SECO LAUNCHES X-HEAD QUICK-CHANGE SYSTEM
Seco Tools LLC, Troy, Michigan, a provider of metal cutting solutions for milling, stationary tools, holemaking and tooling systems, has launched its new X-Head quick-change, replaceable milling head system. With this system, users quickly and easily can change between various solid-carbide milling geometries and types to optimize milling operations while reducing manufacturing costs and tooling inventories. For more information, visit www.secotools.com.
[5] MANTLE DELIVERS 3D PRINTING SYSTEM AND TRUESHAPE TECHNOLOGY
Mantle, San Francisco, California, a metal 3D printing company, announced the commerical availability of its technology and production systems. Mantle’s system and patented TrueShape technology, include the P-200 printer, a hybrid system built on a CNC platform that integrates printing and machining; the F-200 furnace, which sinters parts from the printer and produces tooling components; two tool steel materials, H13 and P2X; and easy-to-use software that automates the printing process. For more information, visit www.mantle3d.com.
[6] ANCA DELIVERS MX7 ULTRA
ANCA, Melbourne, Victoria, Australia, a global manufacturer of precision tool-grinding machines, equipment and software, delivered its next-generation machine, the MX7 ULTRA. The ULTRA has the ability to manufacture large volumes of endmills and other cutting tools, delivering the highest accuracy and quality. For more information, visit www.machines.anca.com.
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Okuma America Corporation, Charlotte, North Carolina, a manufacturer and supplier of CNC and machining technology, launched its 5-axis vertical machining center, the GENOS M560V-5AX. The GENOS M560V-5AX is a next-generation product built with a double-column machine design. With maximum structural integrity, it offers a working envelope with a 500 mm table and wideaxis travels (X: 1,050 mm, Y: 560 mm, Z: 460 mm), with a compact footprint of 2,515x3,750 mm. It comes standard with a 60 ATC magazine and can accommodate tools measuring up to 400 mm; and the machining center has Okuma’s Thermo-Friendly Concept, an onboard thermal and energy management technology. For more information, visit www.okuma.com.
[8] PTI RELEASES UCAMS™ PLUS
Processing Technologies International, LLC (PTi), Aurora, Illinois, released its next-generation flat die servicing system – Universal Cleaning Assembly and Maintenance System™ Plus (uCAMS™). This enhanced design transforms the functionality of the flat die service system into a multipurpose “triple-play” for sheet extrusion-related critical component maintenance and service. For more information, visit www.ptiextruders.com.
CNC OFFERS INDEXABLE SPLINE BROACHING INSERTS
CNC Broach Tool™ LLC, Laguna Beach, California, recently began offering indexable carbide spline cutting inserts. The spline inserts fit the existing line of tool holders and can be used to punch broach internal and external involute splines in a CNC lathe or mill broaching system. Each spline insert has two cutting edges, can be changed out quickly and is TiN-coated carbide. For more information, visit www.cncbroachtools.com.
