The main goal of wage increases this year is to retain employees

By: Trademagazin Date: 2023. 02. 28. 10:22

While eight out of ten companies had wage increases last year, six out of ten companies are calculating this for this year. In accordance with the previous year’s plans, salaries were increased for the majority of employers, but the amount was higher compared to the calculation at the beginning of the year.

Companies that previously expected a 5 percent wage increase typically ended up increasing it by a higher amount, 6-10 percent. In 2023, fewer, but still the majority of companies (62%) are planning a wage increase, which will typically affect the entire organization, and the amount is more likely to fall between 6-10% even based on plans, according to the latest survey by Profession.hu.

In the latest research, Profession.hu examined the wage development plans of companies and, in parallel, the expectations of employees in this regard. In 2021, 70 percent of companies, and 70 percent a year later, stated that they planned to increase their employees’ salaries. Companies mentioned an average wage increase of 9.2 percent in 2021 and 9.7 percent in 2022 at the beginning of the year, but in the end, last year’s average wage increase was higher, at 12.7 percent. This year, an average of 12.2 percent is planned.