09/09/2021 12:36
Clarín.com
Economy
Updated 09/09/2021 12:39
Year after year, the consulting firm Mercer conducts a survey among companies to find out
what are the percentages of salary increases
that they have already given and that they plan to grant to
employees who are outside the parity
.
And, year after year,
the projections collide with the Argentine reality
, where inflation never reaches December with the values that had been estimated in January.
2020, the year of the pandemic, was the only one in which the increases that were foreseen
finally ended up being lower
than those actually granted.
The rest of the last years the reality always ends up exceeding the initial estimates.
For example,
by 2021
, companies calculated that they were going to give an increase of 40% and will
end up giving an average of 46.3%
, with
peaks of 53%
in fintech companies and
floors of 43%
in engineering and construction.
And is that the inflation estimated by the Latin Focus Consensus is 48.9%.
Thus, wage increases will be below those of prices.
Except for last year, this is what also happened in 2018 and 2019.
P
ara 2022, companies expect an increase of 42%,
with annual inflation of 43%, according to
the consultant presented Thursday as part of the
Mercer Journey 2021.
“Typically, companies start their budget for next year in the last quarter of the current year and budget for increases close to the estimated inflation for the following year.
Then, with the passing of the months, they adjust it and, in some cases,
'running'
against inflation.
Very likely in a few months that percentage will change
depending on how inflation evolves ”, highlighted Ivana Thornton, director of Career at Mercer.
v 1.5
Salary increases vs.
inflation
Tap to explore the data
Source:
Mercer
Infographic:
Clarín
For the human resources specialist, a sign of the volatility of the context and the need to review the increase patterns is that companies
increasingly distribute increases throughout the year
.
"Historically, in Argentina, there were two increases, in April and October. Although these months are still the most chosen, there are more companies that give
three or more increases in the year,
" he explained.
Put in numbers, while in 2017 80% of companies gave two annual increases,
now that percentage has dropped to 30%.
Sector by sector
The high demand in the technology and fintech sectors - which always maintain vacant positions that they cannot fill - remain as those that offer the best salaries and increases.
v 1.5
Increases in 2021, by sector
Tap to explore the data
Industries
Source:
Mercer
Infographic:
Clarín
In 2021, this group will give
salary increases above the market median of 46.3%
.
Fintech companies expect to grant an increase of 53.2%, while financial services firms will give 50% and high tech firms, 49.5%.
Also above the median will be the automotive / auto parts sectors (48.9%);
media and entertainment (48.2%);
packaging (48%);
energy (47.5%) and logistics (46.4%).
“The growth of these businesses and the“ war ”for talent, makes it necessary for companies in this segment to have more aggressive payment practices than in other sectors.
And this materializes, for example, in salary increases.
In the last 3 years we have seen this sector grant increases greater than the
general market
median
”, added Thornton.
These data come from the Spot # 3 survey conducted between August 9 and 20 among 466 companies by the consultancy.
Mercer also compared the salaries of a manager-level employee in Argentina against his peers in the region.
The country has the lowest wages measured in dollars
, followed by Mexico, Brazil, Colombia, Chile and Peru.
This analysis is complemented with cost of living information and although
Buenos Aires is the cheapest city,
the relationship between the difference in cost of living between cities and the difference in payment level between countries
is not proportional
, explained the directive by Mercer.
NE
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