Episode 35: Wages in the Metalworking Industry, Where Are We Headed?

December 4, 2021 9:00 am


Staff retention… What do we do about the fact that some restaurants are paying more than a machinist salary?

We have to ask ourselves: what incentive are we putting on the table for individuals to WANT to get into metalworking, when there are opportunities offering higher salaries? We must consider what do we need to do as an industry to stay competitive.

The burning question is: how do we increase wages, thus passing along the cost to customers… and not lose them entirely?

Machining and metalworking professionals on the forum were discussing this very complicated issue, and bringing forward different strategies to approach the issue. With talks of replacing their entry level positions with robots, some even think that this rise in wages is temporary, but could that be problematic thinking? Join the convo on the Practical Machinist forum here.

At Lakewood Machine and Tool (Ian’s Machine Shop) he is focusing on competitive pay and the benefits he offers his team. Ian believes that keeping and increasing staff is more than about money. Investing in work culture brings extreme value and creates a work environment people want to be a part of.
Go to minute 9:13 to learn more about how Ian invests in the work culture at Lakewood Machine and Tool and why it’s so important. How are the rising wages affecting you as an employer? As an employee, what are your plans navigating this climate? Let us know in the comments and stay tuned for more videos!

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