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Inflation changed the plans of companies this year. With prices rising at an average of 7% per month, workers are watching their paychecks drop each month, while companies struggle to update numbers more and more often.
69.5% of organizations have already changed their budget which was appointed earlier this year and at the time An 80% correction is expected per year (compared to 78.5% of annual inflation). But the number may increase even more.
This is the fifth salary and benefits flash survey released by the WTW talent management and compensation team, which surveyed a universe of 449 companies. In the current context, there are almost no firms left that issue a one-time increase per year (2%). Few do twice (13%). Instead, the majority updated between three (34%), four (36%) and five (9%) times.
“If we read the previous years, we will find that there is a tendency to grow as close to inflation as possible. which will be adjusted and recalculated,” said Marcela Angeli, WTW’s Director of Work & Reward. Moreover, 60% of companies confirm that they will have to continue to adjust salary increases throughout the year.
However, between sector and sector, growth can have a difference of up to 20 points. The biggest increase is expected in energy products (90.4%).Construction (85.5%), Iron, Aluminum, Mining and Metallurgy (85%), Automotive (82%), Tourism (81.5%), Oil (80%), Consumption (80%), Industrial (80% ), Agriculture. (80%) and insurance companies (80%).
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In contrast, “other” sectors are expected to grow by 70%, followed by high technology (72%). Chemistry (74.5%), Logistics and Transport (74.5%), Human and Animal Health Sciences, Medical Equipment (75%), fintech (77%), retail (77.5%), communication and entertainment (77.5%), social work and medical providers (78%), services (78%) and banks and financial entities (78.5%).
“In any case, these are not the final numbers, we hope that the deviations between different sectors will decrease in the coming months, as it happened last year.” This has to do with the fact that there are companies that may still have a budget and are not negotiating. One piece of information that is also interesting is related to the annual bonus for the 2022 results. in this case, Virtually 80% of the market surveyed said they would pay very close target And in some cases even higher. This bonus will be paid from February to March,” Angeli said.
Looking forward to 2023The evaluations of the companies have also changed, compared to the previous edition, the difference is up to ten points. In August, compared to the projected base for next year Inflation and growth are positioned at 70%.
In order to minimize the impact of inflation, in addition to wage adjustments, Some companies chose to introduce new benefits (15%) or renew their funds (13%). To a lesser extent, some companies have included a portion of the payment in hard currency (5%), delivered gift card (5%) or granted a one-time extraordinary bonus (2%).
Observing some monetary benefits that prevail in all things, 37% of organizations pay per kilometer for using their own vehicle for work reasons. with an average cost of $41.7/km. Meanwhile, 3% pay for mobility services for employees to travel from home to work.
As for lunch, the average daily amount of companies is 1198 dollars. 34% choose to have their own dining room, while 11% offer food, 10% offer money via payslip, 8% via payment card, 6% via virtual wallets and 1% have discounts at restaurants and delis in the area. Where employees live. 30% have none of these benefits.
in connection with Day care centers35% of companies offer some kind of incentive, 14% have analytics and 52% do not. Among those who do They have allocated an average monthly amount of $20,000which is issued in recognition of the monthly amount (86%), receipt reimbursement (2%), discounts for care spaces near the office space (1%) and childcare for employees (1%).
finally, 41% of companies give the Internet monetary benefits, An average of $3,750. 73% of beneficiaries monitor it through a fixed amount per month (in a salary receipt or proof of payment) and 16% through a refund (11%).
“These are benefits that have always been around, perhaps the only recent ones being connected to the Internet. But now we relax them more often because companies are reviewing and analyzing funds more often in the face of inflation.. They are another part of compensation that is integrated into the value proposition that a company has to offer to employees.Angeli closed it.
Source: La Nacion
Smith Charles is a talented entertainment journalist and author at The Nation View. He has a passion for all things entertainment and writes about the latest movies, TV shows, music, and celebrity news. He’s known for his in-depth interviews with actors, musicians, and other industry figures, and his ability to provide unique perspectives on the entertainment industry.
