Research Reveals Compensation Offerings in Package Printing
Workforce recruitment and hiring is a top-of-mind issue for package printers and converters, due to the ongoing challenge of attracting staff. A key strategy for finding and retaining workers is offering enticing salaries and benefits. Given the importance of employee compensation and benefits in staffing operations, Packaging Impressions and NAPCO Research conducted a research study to identify salary ranges for key job positions and the benefits package printers/converters offer employees.
This study offers insights into the salaries of 27 job titles, from executive management to production roles, and the various types of benefits offered. The report includes a table that shows the highest, lowest, and average salary for each position studied.
Survey respondents represent companies of various sizes and are mostly privately owned (91%). Overall, respondents report that salaries increased 2.3%, on average, in the past year. In addition to salary, 75% of responding companies pay bonuses.
Paid Time Off and Health Insurance Essential Benefits
In terms of employee benefits (Figure 1), the most common benefits respondents offer include staff paid holidays (96%), paid vacations (94%), healthcare insurance (88%), and a 401(k) retirement plan (81%). Medical and disability insurance are typically must-have employee benefits. Most respondents report that their companies provide health insurance (88%), life insurance (75%), and various types of disability insurance to employees. Workers' compensation insurance is by provided to 63% of respondents.
Personal time off is a popular benefit and nearly all respondents indicate that their organizations offer full-time employees paid holidays, vacations, and bereavement leave.
More than half offer paid sick leave and maternity leave. More than one-third offer employee wellness programs.
Most companies offer many of the standard holidays as paid time off. Half of respondents' companies offer floating holidays. Very few companies offer Presidents’ Day, Martin Luther King Day, or Columbus Day as paid holidays.
Employee Communications and Policies
Another important tool is documented employment policies. These guidelines are important tools for preventing employee misunderstandings, complaints, and job dissatisfaction. Survey respondents report their company offered the following documented policies:
- 90% have a written employee handbook
- 75% offer job descriptions
- 69% have a written "Drug Free Workplace" policy
Want to learn more? Download the Packaging Impressions' Benefits and Compensation Survey report and find out who makes what and the core benefits companies offer their employees.
Lisa Cross is the principal analyst of NAPCO Research (a unit of NAPCO Media) where she conducts market research and analysis on emerging trends and changing dynamics in the commercial, in-plant and packaging industries, and the market forces that are driving those changes. With decades of experience covering the graphic arts and marketing industries, Cross has authored thousands of articles on a variety of topics, including technology trends, business strategy, sales, marketing and legislation.