Data Shows Respondents Also Expect Continued Cost-Cutting Measures
MILWAUKEE — (BUSINESS WIRE) — December 15, 2009 — A new ASQ (American Society for Quality) survey shows a majority of manufacturers are optimistic about a small economic uptick in 2010 at their organizations. However, respondents believe further cost-cutting measures will continue to be implemented. The results show a majority of respondents (64.7%) employed in the manufacturing sector predict their organizations will experience some financial recovery in 2010. More than 1000 manufacturing professionals around the world responded to the online survey from December 2-13.
Other events that respondents predict their organizations will experience in 2010:
- 61.3% believe their organization will create processes to reduce costs
- 44.8% expect a pay freeze
- 41.4% predict a hiring freeze at their organizations
- 35.2% will have mandatory budget cuts
- 27.8% expect staff layoffs
- 24.7% anticipate reduced employee benefits
Respondents were also asked what one tip they would give to manufacturers to ensure revenue growth in 2010. The top four tips from respondents were:
- Continue to take part in continuous improvement practices and increase use of quality processes
- Increase customer satisfaction
- Implement more lean processes
- Reduce costs
“Since the manufacturing sector greatly impacts the economic climate, this survey may serve as a good predictor of the overall 2010 financial outlook,” said ASQ President Peter Andres. “This information will also help ASQ keep a good pulse on the right tools and resources to better serve the needs of our members and customers in the new year.”
ASQ, (American Society for Quality) www.asq.org, has been the world’s leading authority on quality for more than 60 years. With more than 85,000 individual and organizational members, the professional association advances learning, quality improvement and knowledge exchange to improve business results and to create better workplaces and communities worldwide. As a champion of the quality movement, ASQ offers technologies, concepts, tools and training to quality professionals, quality practitioners and everyday consumers. ASQ has been the sole administrator of the prestigious Malcolm Baldrige National Quality Award since 1991. Headquartered in Milwaukee, Wis., ASQ is a founding sponsor of the American Customer Satisfaction Index (ACSI), a prominent quarterly economic indicator, and also produces the Quarterly Quality Report.
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American Society for Quality
Lynda Nicely
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7587
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