Did you think there was a slowdown in high-tech?
You should listen to the managers' expectations
Against the backdrop of a slowdown and even layoffs in the industry, which until recently was considered to have the best employment conditions, the CBS publishes surprising data regarding what managers think about hiring employees
Bini Ashkenazi
10/08/2022
Wednesday, August 10, 2022, 12:43 Updated: 12:55
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Managers in high-tech companies (illustration).
The slowdown in the industry did not harm the hope for the future (Photo: ShutterStock)
The cuts in the high-tech industry worry many in the Israeli economy.
Against this background, the Central Bureau of Statistics (CBS) publishes a summary of a survey sent to managers in the industrial and service sectors in the Israeli economy.
The results of the survey show the expectations for hiring employees, for a change in the economic activity of the company they manage in the coming year, as well as expectations for raising credit capital in the coming year, and the expectations The level of wages of the employees.
In relation to the expectations for hiring employees, more than 40% of the managers in the high-tech sectors in industry and services expect that the scope of hiring employees in their company will increase in the coming year, compared to about 21% of the managers in the other branches of industry. On the
other hand, the other managers in the high-tech sectors in industry and services expect a decrease in the recruitment of employees (29% and 17%, respectively), compared to less than 9% of managers in the other branches of industry and services.
In relation to expectations for a change in workers' wages, the changes in inflation in Israel and in the world affect many economic variables, including workers' wages.
In the survey, the managers were asked about the expected change in their assessment of salary payments to employees in the coming year compared to the previous year.
Hi-tech employees can be satisfied.
Despite what at first appears to be a wave of layoffs, many managers anticipate not only an increase in activity, but also in employee wages (Photo: ShutterStock)
Expect an increase in activity and wages
The data shows that more than 55% of the managers in the high-tech sectors (in industry and services) expect that salary payments will increase in the coming year and that less than 4% of managers expect a decrease in salary payments in the coming year, with the exception of the managers in the industrial sectors, about 10% of whom expect a decrease in salary payments to employees.
In relation to the expectations of a change in the economic activity of the company they manage in the coming year, it appears that in all the industries included in the survey, a higher percentage of managers anticipate an increase in the economic activity of the company in the coming year than managers who anticipate a decrease in economic activity.
So while approximately 52% of the managers in the high-tech sectors in services anticipate an increase in economic activity in the coming year, only 22% of the managers in the industrial sectors (without high-tech) believe so.
In all industries it is evident that the more the company employs, the more positive the expectations of its managers regarding the expected change in economic activity.
About 18% of managers in the industrial sectors anticipate a decrease in economic activity, and about 13% answered that they do not know how their economic activity will change in the coming year.
With regard to the expectations for raising capital and credit in the coming year, there is a large difference between the high-tech branches in services and the high-tech branches in industry regarding capital raising:
while about 42% of managers in high-tech branches in services expect a continued increase in capital raising in the coming year, only about 4% of managers in high-tech branches in industry expect an increase in capital raising, and about 19% expect a decrease in capital raising compared to the previous year.
However, more than 50% of managers in all industries expect that credit mobilization will remain unchanged compared to the previous year.
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