Wages in the private sector recorded an 8 percent increase in the third quarter, and bonuses by 22 percent, the evolution being felt in all areas while the competition on the labor market became stronger nowadays, according to the Smartree Workforce Index shows.
“The evolution of salaries was felt in all areas, regardless of whether we mean white collars or blue collars. This is explained by the increasingly stronger competition between companies on the human resources market. Right now, a lot of employers are facing big difficulties in finding the staff they need, in the first phase, and in retaining them, in the second phase,” CEO Smartree Adrian Stanciu explained.
This thing happens especially in IT and Retail sectors, which are continuing their growth in Romania, but which are hampered by lack of staff. As a result, companies resorted to headhunting, which led to an increase in wages.
On the other hand, in the banking and insurance sectors, the wages increased the least.
According to Smartree Workforce Index, the wage increase by almost 8% in Q3 2016, compared with Q3 2015. Comparing Q3 2015 with Q3 2014, the wage increase stood at only 3 percent
Due to the lack of staff, bonuses have become a way of retaining staff. That is why, the Smartree Index recorded a 22.34 percent year-on-year increase.
“The companies started to offer bonuses to employees to retain them, but also to motivate them to be more efficient. In addition, another reason for this significant growth has to do with the evaluation of employees’ performance, which is increasingly conducted in real time, according to projects,” Stanciu explained.
According to the Smartree CEO, managers no longer wait until the end of the year to offer bonuses to employees according to their performances, instead they do so on the spot, following the international trend. In practice, bonuses are offered more often, and this increases efficiency within teams, the study shows. Also, this practice is strongly related to the fact that the business performance and results are also step by step evaluated, in real time, not only at the end of the year.
At the same time, even if the request for new employees increased, the number of recruitment also increased by 7% in Q3, comparing with the same period of last year. This indicator recorded an advance of 10% in Q3 2015 vs 2014. ” This is due to the lack of candidates in some sectors of the market”, mentioned Adrian Stanciu.
Industries that were reported most hiring are retail shared service centers.
A trend observed in this final year is the increase of the number of annual leave days requested, which rose by 13%, while the number of sick days taken by employees increased by a significant percentage of about 17%.
“These data show that the labor market is becoming more active and effervescent. At this point, analyzing the indicators we take into the quarterly index Smartree account, we notice that we are witnessing, on the one hand, to an increase in dynamism in the market, and, on the other hand, to a positive development of the economy ” Adrian Stanciu concluded.
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