The second annual ASQ Manufacturing Outlook Survey reports a vast majority of manufacturers are optimistic about an economic uptick in 2011. The survey conducted by ASQ, a network of quality resources and experts, shows 68% of respondents employed in the manufacturing sector predict their organizations will experience revenue growth – more than in 2010.
A year ago, despite the economic landscape, 64.7 % of respondents predicted that revenue would grow in 2010. This year, when asked if their organization did experience revenue growth in 2010, 67% indicated “yes.”
More than 1200 manufacturing professionals from the United States and Canada responded to the online survey Oct. 24 – Nov. 5, 2010.
Other survey results:
• Only 18% of respondents expect a pay freeze at their organization in 2011, compared to 44.8% in 2010.
• 18% predict mandatory budget cuts in 2011, down from 35.2% in 2010
• Expectations of a salary/merit increase: 48%
• Organizations will continue to create processes to reduce costs: 47%, down from 61.3% in 2010
• Maintaining current staff levels at their organizations: 42%
• Hiring of additional staff: 42%
• No mandatory furlough days: 73% (in 2010, 72% indicated they did not have to take furlough days)
“Though it appears the manufacturing sector is still facing some challenges on the road to full economic recovery, the incremental gains shown in this survey are very promising,” said ASQ Chair Peter Andres. “However, organizations still need to focus on and increase customer satisfaction, and implement continuous improvement practices to remain competitive.”
to Daily News