But for companies, that gap could be extended depending on the sector, to a difference “of at least 2 or 3 points,” said Marcela Angeli from WTW.
On the other hand, from WTW they highlighted that companies modify the budget that will be allocated in salary increases trying to be in line with inflation: “We started 2021 with a salary budget different from what the year is going to close. We started with a 44% budget for salary increases and we are going to end the year with 46-47% for personnel outside the accumulated agreement ”.
Another point to highlight unlike previous years (2017-2018) is that most of the companies gave between three to five annual increases. What can be observed this year that is also replicated from last year is the granting of two to three increases throughout the year instead of three to five increases.
“These adjustments are the same as inflation or less than inflation,” they expressed from WTW.
How is the behavior by sectors?
The five sectors that had the highest percentage of salary increases were – once again- Fintech (50.9%), Financial institutions (49.4%), Communications and Entertainment (49%), Construction (48%) and Iron. aluminum, mining and metallurgy (48%).
The sectors with the smallest increases are tourism (38.7%), followed by retail (43%), oil (43.7%), logistics and transport (44%) and services (45%).
What is expected for 2022
69% of the organizations are already working on the budget for next year, where they plan to grant an average increase of 45% in the salaries of personnel outside the agreement. Through the 2022 Budget, the government estimates that inflation will be around 33%, so it follows that companies are re-estimating inflation above the official estimate.
“The range of increases contemplated for next year is between 42% and 47%,” said Marcela Angeli, director of Talent Management and Compensation at WTW.
The 45% salary increase that companies plan to give in 2022 for the non-unionized workforce will be divided into two sections: 60% will take effect in the first semester and 40% in the second semester.
Projected increases for 2022 by sector
In line with what happened this year, it is expected that next year the winners will be Fintech, financial services, High Tech, energy, oil, communications and entertainment, and automotive. These industries would end 2021 with increases above the inflation estimate and will repeat the same situation in 2022 with increases of more than 45%.
Below the market average, services, mass consumption, retail, health sciences, tourism, agriculture, engineering, construction, transportation and logistics will be located with increases between 40% and 45%, lower than expected inflation.
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