SPEEA/Boeing joint statement Salary Adjustment Funds for 2018 announced
Boeing and the Society of Professional Engineering Employees in Aerospace (SPEEA), IFPTE Local 2001 today announced the 2018 salary adjustment funds for employees in the union’s Professional and Technical bargaining units.
After reviewing the adjustment pools resulting from agreed upon data, Boeing recognized the need to go above and beyond contract requirements for salary pools to retain expertise and experience in the workforce. The additional adjustment results in a 3.2% salary pool for engineers with an additional 1.8% lump sum for all employees in the Professional Unit. The salary adjustment pool for Technical Unit employees is the full 5%.
As adjusted, the salary pools meet the contractual requirement to keep Professional Unit members at or above 115% of the market and Technical Unit members at or above 121% of the market.
Based solely on the market comparison outlined in the Professional contract, the salary adjustment fund for engineers would be 1%. The market comparison determined Technical employees were eligible for a 5% salary adjustment pool.
“This salary fund will allow us to recognize the importance of the contributions made each day by our engineering and technical employees,” said Todd Zarfos, vice president of Engineering Functions, Washington Design Center and senior chief Engineer of Systems.
“We agreed to Contracts that provide rates of pay above the market and Boeing continues to work with us to assure compliance with the letter and intent of our negotiations,” said Ray Goforth, SPEEA executive director.
Ryan Rule, SPEEA president, added “This is appreciated, and I believe, another reflection of the improved relationship we’ve been developing.”
Boeing and SPEEA negotiated the contracts for engineers and technical workers in February 2016. The contracts include a provision that salary adjustment funds are established from a pool of money of 5%. The pool is then divided into two types of funds, one for salary adjustments, and one for lump sums.
The size of the salary adjustment fund is then determined by comparing the average salary of Boeing’s employees in those units to the average salary of comparable employees in the market, with the annual Mercer-SIRS High Tech Company salary survey providing the standard.
Thresholds for the salary adjustment funds allow average wages 15% above market for engineers and 21% above market for technical workers in 2018. SPEEA and Boeing representatives reviewed the Mercer data as well as data from other sources to help assure the intent of the agreement and the needs of the parties are met. These efforts will continue.
“It’s important to keep wages competitive and reward performance. That’s how we attract and retain the best talent, while inspiring the innovative thinking we need to win in the marketplace,” said Zarfos.
More information for affected employees is available from managers, union representatives, and Human Resources representatives.