![[US] ASCM report: minimal impact from Great Resignation and high job satisfaction](http://globalpayrollassociation.com/cdn/shop/articles/bigstock-Puzzles-With-Product-Managemen-454381143_1200x.jpg?v=1653927754)
On May 25, the Association for Supply Chain Management (ASCM) released the findings of its 2022 Supply Chain Salary and Career Report. The annual survey found supply chains were minimally impacted by the Great Resignation, Yahoo Finance reports.
The Association for Supply Chain Management is the global pacesetter of organisational transformation, talent development and supply chain innovation. According to its report, 14 per cent of respondents found a new job, up only 2 per cent from 2021. The data also revealed that career satisfaction remained exceedingly high despite the continuous strain of supply chain disruptions.
"This past year brought continued uncertainty across all industries and supply chain professionals were once again under tremendous pressure to keep pace with a never-ending stream of disruptions," Abe Eshkenazi - ASCM CEO - said. "Amid all these global challenges, it's reassuring to see supply chain professionals remaining resilient and committed to their vital work and this dynamic industry."
Flexibility and strong salaries
As many industries struggle with balancing return to work policies, supply chain professionals are reportedly thriving in the post-pandemic hybrid world. This year's report showed that two-thirds of supply chain professionals work in a hybrid or permanent work from home setting, demonstrating the flexibility that many people in today's workforce look for when evaluating career options.
Salaries and compensation continue to rise with survey respondents reporting an average of a 9 per cent pay increase. Overall, total compensation has increased by an average of 12 per cent, with the median package being just under $100,000. From a benefits standpoint, the report showed that paid time off is generous within the industry with nearly half (48 per cent) of supply chain professionals reporting receiving four weeks or more of paid vacation.
The pay gap continues to narrow
For the second year in a row, the report showed that women under 40 earned more than their male counterparts in supply chain roles. In addition, the overall gender pay gap among supply chain professionals continues to narrow with the upward growth of women in the industry. This year's report found women aged 40 to 49 narrowed the pay gap down from 15 per cent in last year's report to 8 per cent this year. While this shows growth for women within the industry, the report found an overall gap for women and people of colour at privately held companies. At publicly traded companies, salaries are more equitable for both women and people of colour.
"This year's data is encouraging as we work to attract, develop and retain more diverse supply chain talent but these numbers also demonstrate there is more work to be done. I hope all organisations can redouble efforts to eliminate pay gaps based on gender and race," Mr Eshkenazi said.
Additional key findings from ASCM's 2022 Salary and Career Report include the following:
- Professional development pays off: Those with at least 1 APICS certification earn 25 per cent more salary than those with no certification at all.
- Strong Salaries: Respondents reported a median salary of $96,000 (base salary and additional compensation).
- Quick Job Placements: 81 per cent of new graduates found their job in the supply chain industry in three months or less. For professionals already in the industry, 67 per cent found a new job within three months of beginning their search.
Source: Yahoo Finance
(Links and quotes via original reporting)
On May 25, the Association for Supply Chain Management (ASCM) released the findings of its 2022 Supply Chain Salary and Career Report. The annual survey found supply chains were minimally impacted by the Great Resignation, Yahoo Finance reports.
The Association for Supply Chain Management is the global pacesetter of organisational transformation, talent development and supply chain innovation. According to its report, 14 per cent of respondents found a new job, up only 2 per cent from 2021. The data also revealed that career satisfaction remained exceedingly high despite the continuous strain of supply chain disruptions.
"This past year brought continued uncertainty across all industries and supply chain professionals were once again under tremendous pressure to keep pace with a never-ending stream of disruptions," Abe Eshkenazi - ASCM CEO - said. "Amid all these global challenges, it's reassuring to see supply chain professionals remaining resilient and committed to their vital work and this dynamic industry."
Flexibility and strong salaries
As many industries struggle with balancing return to work policies, supply chain professionals are reportedly thriving in the post-pandemic hybrid world. This year's report showed that two-thirds of supply chain professionals work in a hybrid or permanent work from home setting, demonstrating the flexibility that many people in today's workforce look for when evaluating career options.
Salaries and compensation continue to rise with survey respondents reporting an average of a 9 per cent pay increase. Overall, total compensation has increased by an average of 12 per cent, with the median package being just under $100,000. From a benefits standpoint, the report showed that paid time off is generous within the industry with nearly half (48 per cent) of supply chain professionals reporting receiving four weeks or more of paid vacation.
The pay gap continues to narrow
For the second year in a row, the report showed that women under 40 earned more than their male counterparts in supply chain roles. In addition, the overall gender pay gap among supply chain professionals continues to narrow with the upward growth of women in the industry. This year's report found women aged 40 to 49 narrowed the pay gap down from 15 per cent in last year's report to 8 per cent this year. While this shows growth for women within the industry, the report found an overall gap for women and people of colour at privately held companies. At publicly traded companies, salaries are more equitable for both women and people of colour.
"This year's data is encouraging as we work to attract, develop and retain more diverse supply chain talent but these numbers also demonstrate there is more work to be done. I hope all organisations can redouble efforts to eliminate pay gaps based on gender and race," Mr Eshkenazi said.
Additional key findings from ASCM's 2022 Salary and Career Report include the following:
- Professional development pays off: Those with at least 1 APICS certification earn 25 per cent more salary than those with no certification at all.
- Strong Salaries: Respondents reported a median salary of $96,000 (base salary and additional compensation).
- Quick Job Placements: 81 per cent of new graduates found their job in the supply chain industry in three months or less. For professionals already in the industry, 67 per cent found a new job within three months of beginning their search.
Source: Yahoo Finance
(Links and quotes via original reporting)