Salary increases by above 100% at an annual level, high labor turnover and companies that, despite the challenging inflationary context, they are committed to continuing to incorporate personnel. These are some of the main conclusions reached by the Adecco Argentina survey about him salary outlook and work of the first 8 months of the year and the projection of the coming months.
To prepare this survey, we included 318 companies and 198 positions of different industries, profiles and geographic locations.
Salaries: how have they evolved in the face of inflation?
Behind the devaluation and the move to post-primary prices, the unions are demanding the reopening of the joint ventures. For the moment, the most unions will close the year above 100% salary adjustment. Banking, Truck Drivers, Commerce and UOCRA are some of those who They have already started asking for adjustments and fixed sums.
The unionized employees and under agreement are the ones that can best alleviate the effect of inflation hand in hand with the settings.
As for the staff outside the agreementof the participating companies, almost 52% is planning a annual adjustmentwhich ranges between 91% and 154%, with a average of 90.4%. If so, workers who are outside the agreement would lose against inflation.
On periodicity of increasesthe report revealed that for out of agreementhe 35% of the companies that participated in the Salary Guide make salary adjustments in a manner quarterly.
Product of inflation, salary adjustments are made in shorter periods of time. Compared to the previous report, the document warns that there was a monthly, bimonthly and quarterly adjustment growthand a decrease in the quarterly and semiannual increase.
Regarding the amount of the increases, the report emerged that mainly They rely on inflation indicatorsand the increases in joint agreements of the corresponding industry agreement. Also, they explain from Adeccothat there is a growth of the remuneration for performance.
How does the labor market react to economic uncertainty?
For the remainder of 2023 and early 2024although the level of uncertainty is high, the 70% of companies participants stated that they would continue hiring staff. A 51.7% of the positions to be filled mentioned have to do with productive areas. The rest are corporate roles.
Based on the survey, it appears that the 84% of the companies hired staff in 2023and the 50% will increase their endowment by up to 5%.
On the other hand, the turnover rates are largely related to the degree of worker satisfaction. He 46% indicated having a average turnover equivalent to 9.5% of your workforce.
In that sense, the 38% of the companies claimed to have a retention policy of key talents through packages benefits, differentiated adjustments and career plans.
Source: Ambito
