Gross wages among large private companies have risen an average of 12% this year, the highest rate in 15 years, as firms struggle to offset record inflation and a very tight labor market. salary survey conducted by PwC Romania. In 2023, private companies expect gross wages to grow by an average of 9.3%.
“Wage increases are significant, exceeding 10% in many sectors, with percentages not seen in 15 years, even if they have not offset the erosion caused by inflation. Wage growth pressures will continue next year, but we expect slightly lower rates in the context of an uncertain economic growth outlook. However, we notice that more and more companies are assessing the sustainability of these increases and are accelerating other measures to increase efficiency and increase productivity,” said Oana Munteanu, People and Organizations Director of PwC Romania.
According to the estimates of the responding companies, the largest increase in average salary, about 18%, was observed in the insurance sector, followed by retail trade with 16.6%, service centers with 11%, pharmaceutical industry with 10.5%, banks with 10 ,5. %, technology with 9.3% and industry with 6.6%.
The highest average wage incomes continue to be in the technology sector, followed by leasing, service centers, manufacturing, banking, pharmaceuticals, insurance and retail.
The study also reflects demographic differences in approaches to compensation packages. The best paid is the age group from 44 to 54 years old, close to which is the category 26-43.
Looking at the gender gap, we see a 23% pay gap between women and men. For every 1 lei a man earns, a woman will earn 0.76 lei, meaning that women still tend to occupy lower-paid roles.
At the same time, high-performing employees earn 8-15% more than other employees, as well as those with more experience.
Benefits: First, additional vacation days
After years in a row of meal vouchers ranking as the top benefit, in the current edition of the report, extra vacation days came out on top, followed by those vouchers, followed by health insurance, special-occasion bonuses , flexitime and, the big absence in recent years, events for employees (such as team building).
“The average share of payments in the total wage package is about 5%, which is quite low compared to the countries of Western Europe. Employees began to appreciate other benefits, in addition to those that have become traditional. As a trend, such advantages as a company car, transportation, and mobile communication have decreased, because the telephone has ceased to be considered a good, but a necessity. However, there is an increase in leisure and wellness benefits, from holiday vouchers to therapy sessions or reduced-hours Fridays,” said Mădălina Trif, senior HR and organizational manager at PwC Romania.
About PayWell 2022
As part of the PayWell Romania 2022 salary and benefits survey, more than 180 companies from industry, banking, pharmaceuticals, retail, IT&C, BPO, insurance and leasing were interviewed.
Article supported by PwC Romania
Source: Hot News RO
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