Roughly 37 percent of small and medium-sized companies and entrepreneurs want to raise their employees’ wages for next year, as well as this year. Their wages are planned to increase by 13.5 percent. Another 14 percent will add to its workforce, but less than in 2023. In total, 65 percent of respondents will be adding in 2024, according to the October survey of the ČSOB Company Expectations Index.
Prague
11:04 a.m November 12, 2023
Share on Facebook
Share on LinkedIn
Print
Copy the url address
Abbreviated address
Copy to clipboard
Close
Another 23 percent want to improve employees by one to three percent and five percent by one percent at most (illustrative photo) | Photo: René Volfík | Source: iROZHLAS.cz
According to the index, 23 percent of companies do not expect wage growth for the next year, and 12 percent of the companies surveyed did not know about a possible addition at the time of the survey.
Of those companies that will increase wages, approximately four out of ten will increase by an average of 3.1 percent to five percent. Wages will rise by more than five percent in 23 percent of companies.
Inflation accelerated to 8.5 percent in October. However, the calculation was significantly influenced by statistical factors
Read the article
Another 23 percent want to improve the employees by one to three percent and five percent by one percent at most. They did not state other specific plans for raising wages.
Inflation around 2.5 percent
Due to the slowdown in inflation, according to analysts, wages should also grow in real terms next year.
“While inflation will hover around 11 percent in 2023, it should slow down significantly next year. Even though the uncertainty associated with the estimates remains high, inflation should fall to lower single-digit levels at the beginning of the year and may hover around 2.5 percent for the whole year 2024,” said Patria Finance analyst Jan Bureš.
Overall, however, next year due to the inertia of nominal wage dynamics, he assumes that even real wages will start to rise year-on-year after more than two years.
60 percent of companies want to raise wages next year. They may reconsider the plans because of the austerity package
Read the article
“Every year we carry out some kind of valorization, so within the inflation level,” stated the owner of Varistar Jan Semrád, who works in IT for agriculture.
“We expect wage growth in the next year as well. Our decision on the amount of wage increases will depend on several key factors. The first factor we are guided by is the productivity of our companies,” said co-owner of the SkyLimit engineering group Michal Bakajsa.
The survey was conducted by the Datank agency for the ČSOB group on a sample of more than 400 small and medium-sized companies and entrepreneurs.
CTK
Share on Facebook
Share on LinkedIn
Print
Copy the url address
Abbreviated address
Copy to clipboard
Close
Tags: Raise employees wages twothirds companies small percentages survey showed iRADIO
