In the race to maintain salaries against inflation, not even the salaries of non-contracted staff – that is, those categories that do not break even – are able to cover the effect of the price increase.
This year, companies hope to grant adjustments on more occasions than in previous years, although the increases would remain below general inflation. In 2023, only 28% of companies reached the official CPI curve with wage adjustments made.
This year the situation is not much different: company budgets They start with a forecast of a cumulative total increase of 180% on average with an inflation base estimated at 192% this is what emerges from a survey conducted by the specialized company WTW among 441 companies operating on the local market. And even further from the 213% inflationary increase estimated in the Market Expectations Survey published by the Central Bank.
According to this survey, we need to go back to 2020, the year in which the pandemic began, to see that the wage curve has flattened the cost of living.
From WTW they explain that the salary adjustments expected for 2024 range from 145% to 210%. There are 31% of companies that plan to grant six adjustments in the year, 23% plan to give more than six, and some companies plan to make monthly adjustments.
“Since inflation is estimated to be higher in the early months of the year, many companies plan to make monthly adjustments in these months and then begin to space them out further,” they explain to WTW.
What happened in 2023?
Last year, Salaries were 26 points behind inflation. According to INDEC, non-agreement employees obtained an average increase of 185%, while inflation closed at 211.4%.
This is an approximately January, mainly, and February. In this way, if we only consider the average adjustments granted during the calendar year There were 165 of them% and if we add compensatory adjustments we reach 185%“he clarifies.
The sectors that came closest to the CPI increase, taking into account the wage adjustment accumulated over the year, were Fintech (173%), oil (184%), industry (177%) and energy (180%). Meanwhile, agriculture recorded progress (177%) and iron, aluminum, mining and metallurgy (181%). For his part, Those with the smallest increases were educational institutions (130%), professional services (145%) and healthcare providers (152%).
This year, when asked about the intention to grant adjustments equal to real inflation, the survey found that 34% of companies have this idea “under analysis.” 33% categorically answered “yes” and an equal percentage said “no”.
Between other mechanisms that companies evaluate to offset wages against inflation and devaluation, include: delivery salary advances or advances; communicate in advance to employees the salary adjustments to be granted in the following months and grant additional amounts to the salary through payment platforms (for example for consumption in supermarkets, fuel, etc.).
Another example is “paying a one-time tip or an extraordinary bonusIn this regard, the WTC states that “companies are clearly getting approval to apply some measures that do not imply a loss compared to inflation when the employee actually receives the payment.”
Source: Clarin
