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The first three months of 2017 brought again increases of the salaries and bonuses for private employees, compared to the same period of the previous year, according to the Smartree Workforce Index, an analysis made by Smartree, one of the leaders on the Romanian market of outsourcing of HR processes. Well-being of the employees has also grown significantly, following the trend of the economy, in general.
Thus, in the first quarter of the year, employees in private companies experienced an average salary increase of about 14% compared to January-March 2016. This was mainly determined by the positive evolution of the Romanian economy, the rise of the minimum gross salary starting with 1 February, and the upward trend of employment in several market sectors.
“The labor crisis on segments such as IT&C, medical, automotive also had a positive impact on wage growth in the first three months of this year. Companies have developed clear strategies for employees’ retention or attraction, and providing motivating salaries was one of the most important factors”, said Adrian Stanciu, Smartree CEO.
He also pointed out that the main companies in Romania that offered salary increases for employees in the first quarter of the year are those in the electronics and hardware industry, technology products and services, automotive production, pharma industry and the medical sector.
6% increase in total bonuses to Romanian employees
Also in terms of bonuses offered by companies, the first quarter of 2017 brought an increase compared to the same period last year. Thus, in the first months of this year, employees received higher bonuses of about 6%, according to Smartree Index.
Beyond cash benefits, many companies also offered to the employees other benefits. The most common, according to the Smartree analysis, during the mentioned period, were meal vouchers, medical subscriptions at private clinics, travel expenses, sports clubs subscriptions, relaxation halls, gift vouchers, bonuses on various occasions, gifts for children on special days.
The first quarter of 2017 also meant an increase in the number of days of rest leave, taken by employees. Thus, compared to Q1 2016, they grew by over 18%.
New hires, rising by more than 13 percent
The Smartree Index for the first quarter also shows how the number of employees in the private sector evolved in the first part of this year. Thus, on the labor market, in private companies, during the mentioned period, the number of new employees increased by over 13%. “The main industries that have absorbed new employees in the first part of this year are pharma & medical, software development, shared services, automotive and retail, including FMCG. This has been driven by increasing investments in the Romanian market, the opening of new production facilities and the constant demand for IT specialists, as Romania remains one of the most attractive IT hubs in the area”, concluded Adrian Stanciu.