A never-before-seen wage increase is possible for SMEs
In line with the increase in inflation, SMEs are preparing for an unprecedented wage increase of 11 percent, according to the second quarter results of the K&H SME Confidence Index 2022. In addition, more and more companies plan to give their employees fringe benefits, primarily transportation reimbursement, 13th month salary and meal allowance. Employment is stable in the sector, but the labor shortage in industry is becoming more pressing.
Wages may increase in the SME sector
Employees of the SME sector can earn more money. According to the K&H SME confidence index, which shows the expectations of Hungarian micro, small and medium-sized enterprises for the next year, companies are preparing for a record wage increase.
“On average, businesses expect an 11 percent higher salary in the 12 months ahead, which is the highest value in the history of the index so far. This means that the companies are planning an increase in line with inflation, since according to the MNB’s latest report in June, inflation may be between 11 and 12.6 percent in 2022”
– said Zoltán Rammacher, head of K&H SME marketing and sales support.
“Nowadays, it is not only the salary that is important to employees, but it still has a serious effect on retaining employees. A stable workforce is becoming more and more important for companies in the current economic situation”
– added the specialist.
K&H Press
Related news
Fruit yogurt has become cheaper, but the price of orange juice has gone up
The prices of products frequently consumed by children have increased…
Read more >
Generational change is increasingly a concern for Hungarian businesses
Surveys in recent years have shown that while Hungarian private…
Read more >
K&H: middle-aged Hungarians are more shy, despite their higher income
The income of middle-aged people shows a gradual increase over…
Read more >Related news
Why are parcel locker providers getting stuck? This data points to the reasons
Parcel terminals are becoming increasingly popular: this year, nearly three-quarters…
Read more >
Using 30% less materials would be a solution to the climate crisis
The circular economy is a global imperative: it transcends geographical…
Read more >
Sustainability and health: the rise of plant-based dairy products in Hungary
In recent years, plant-based dairy alternatives have gained significant popularity…
Read more >
