MILWAUKEE, WI – A majority of manufacturers are optimistic about an economic uptick in 2011 at their organizations, according to a recent ASQ survey.
More than 1,200 manufacturing professionals from the US and Canada responded to the online survey.
Of the respondents, 68% predict revenue growth for 2011. That’s up from a year ago, when 64.7 % of respondents predicted revenue would grow in 2010. This year, when asked if their organization did experience revenue growth in 2010, 67% indicated “yes.”
Only 18% expect a pay freeze at their organizations in 2011, compared to 44.8% in 2010.
Eighteen percent predict mandatory budget cuts in 2011, whereas 35.2% did in 2010.
Forty-eight percent of manufacturers expect a salary/merit increase, and 42% expect to maintain current staff levels. Another 42% expect to hire additional staff.
Forty-seven percent of organizations expect to continue to create processes to reduce costs, down from 61.3% in 2010.
The survey asked whether staff reductions or other cutbacks implemented in 2010 negatively impacted the quality of the products/services delivered, with 33% believing the quality of their products/services was negatively impacted. Thirty-two percent believe the quality did not suffer.
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