Smartree: In the third quarter, salaries rose by 8 per cent, bonuses by 22 per cent
The third quarter of this year brought a rise in the employee salaries, especially related to bonuses offered to employees working in the private environment, according to Smartree Workforce Index.
Hence, the data offered by the study show that, compared to the same interval of last year, the salaries reported a growth of 8 per cent in Q3 this year, while the bonuses advanced by 22 per cent. "The evolution of salaries has been reported in all areas, either white collars to blue collars. The rise is due to a tightening competition among the companies in recruiting and retention of employees. Currently, many employers face significant challenges in firstly, finding the right personnel, respectfully, in retaining them," said Adrian Stanciu, CEO Smartree.
The trend is obvious especially in retail and IT sectors, fields registering a major growth currently in Romania. In this context, these industries also have to push the break in their development pace due to the lack on the workforce. The situation triggered the fast solution of recruiting from competitors, with the main incentive related to a raised salary. At the other end, the financial and banking industry and the insurance reported the smallest rise in salaries. According to the Smartree workforce Index, the salaries evolved with an average of 8 per cent in Q3 this year. In 2015, the advance has been reported at only 3 per cent compared to Q3 of 2014.
Due to the major lack of candidates for the opening jobs, the companies also use the option of offering increased bonuses, with a rise of 22,34 per cent registered in Q3 this year compared to the same interval in 2015. "The companies started to compensate through bonuses the employees in order to retain them and as a method to increase the motivation and efficiency. Also, this trend is due to the current performance measurement methods which are done in real time and more and more, project-based," said Adrian Stanciu.
The same study indicates that the volume of new employment increased by 7 per cent in Q3 this year, compared to 2015's third quarter. In the current increased demand for workforce, the pace has slowed a little bit, because in Q3 2015, the increased was reported at 10 per cent. The disparity is explained through the lack of fit candidates available on the market. The most active employers were the industries in retail and shared services. Also as a trend, the employees asked for more holidays and medical leaves, as the two indicators reflect the wellbeing and wealth of professionals. The number of holiday leaves advanced in Q3 this year by 13 per cent compared to the same interval last year, while the number of medical leave increased significantly, by 17 per cent in the same interval.
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