Salaries in dollars, raised by 100% and special “prizes”: war between companies to retain key employees

Technology companies want the government to allow them to enter part of their exports through MEP dollars in be able to pay a salary in dollars and thus prevent their employees from resigning, tempted by overseas jobs that are paid in blue.

Although it seems to be a request there is not much future due to the lack of foreign exchange, in fact many IT firms and others are highly dependent on that technology they pay part of the salaries in dollar amounts. And others who had no intention of doing so, began to do so so as not to lose attractiveness in the face of competition.

Another group that receives salaries tied to U.S. currency are the regional directors based in Argentina and who, due to the depreciation of the peso, receive lower wages than their counterparts in other countries, measured in dollars.

So, multinationals are making dollar payments to the regional managers who live here they are not paid less than the teams they need to manage in another country. Also to their executives is not subject to offers of companies from other markets which pays more explained Ivan ThorntonCareer Director for Argentina, Uruguay and Paraguay at Mercer, a consulting firm that specializes in Human Resources, at a conference with journalists.

The fee it’s not a dollar bill. “There are two mechanisms,” said the specialist. The most common is what we call split salary o Divided payment: companies determine the salary in pesos, pay a corresponding contribution, but a portion of the net is converted into dollars at the official exchange rate. This means they have access to a higher dollar value than if they were shopping alone. “

“Another smaller percentage of companies can set compensation in dollars. They are sectors that typically do this, such as investment banking or Clinical research. There they use the official change, although some also change the MEP. “

Bonds of all colors

In addition to paying in dollars, grow so -called “recruitment bonuses”.a type of “reward” that the hiring company pays to the new employee once “the cost” of changing companies and the benefits you will lose in the move.

East “hire bonus” is usually the equal to two salaries, Thornton’s explanation. According to a survey of 421 companies conducted by the consultancy, 25% of companies there are already hiring bonus policies.

It is also growing as a trend the “retention bonus”: one or two additional salaries are paid as certain objectives of staying in the company are met. Goals that used to be in years are now in months. 18% of companies have a retention bonus.

both bonds is further in the traditional bonus paid by large companies for personal and corporate performance.ang

These special bonuses, previously provided almost exclusively at the management level, is spread to lower levels, due to the need to attract and retain employees with digital profiles. And they are not only happening technologically, but also in IT areas of companies of any category increasingly relying on digital developments.

The positions and roles with the highest turnover within the field of technology, according to Mercer, are functional analyst, cyber security engineer, developers (front and back end), mobile development, solutions/technical architect, contact center , service desk, data analytics, web UI, Big Data, data scientist, UX designer, IT recruiter, tester, cloud (devops, migration, architect), QA, UX researcher, network support and Project/program Management.

Companies can offer these profiles double the wage that they charge to close a contract, while the normal thing is to change companies with a 30% increase, Thornton recalls.

According to data collected by Mercer, these imbalances are caused by salary differences between “digital” and “analog” positions within the same company. These gaps can be between 23 and 43%, depending on the family of work and the seniority of the position.

NE