Companies Reluctant to Raise Wages Above Inflation
- 12 Jul 2021 10:36 AM
- Hungary Around the Clock
Most companies are ready to raise the wages of their employees to match inflation, the research institute of the Chamber of Commerce and Industry found in a survey.
Among respondents, 30% do not intend to change wages and 35% would increase them by 5% at the most, while 33% are ready to increase them by more than that.
Some 68% of companies are planning to increase pay this year, slightly down from 71% in 2020.
Last year, 45% of the companies planned a wage hike of over 5%.
Another 6% of companies lowered wages in 2020 but only 2% plan to do so this year.
Inflation is forecast to be in the 4-5% range this year, Portfolio adds.
XpatLoop Media Partner
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