A recent study by Watson Wyatt expects the adjustment rate that companies awarded next year and how close 2009. What factors will affect the increases. Who was it that lost more purchasing power. Which sectors are better off to face what next
A little over three months to the end of 2009, companies have begun to outline their budgets for next year, to sharpen the pencil and slide the percentage of wage adjustments that have to be granted in 2010 that at least so far, on economic matters it is quite uncertain.
course, in addition to the increases, the issues that most concern these days employers are low consumption, which resulted in a sharp drop in sales, the difficulty in obtaining financing and, as if To make matters worse, the pressure of trade unions.
And in a context of accelerating strong inflation and loss of purchasing power for the Argentines, both employees and employers are already thinking of how will the next increase.
In fact, in August the basket of the Professional Executive (CPE) developed by the University of CEMA prices rose 1.8% and increased by 16.5% over the same month last year.
And although rates of the National Institute of Statistics and Censuses (INDEC) estimates that inflation is in single digits, for the next 12 months the majority of Argentines believe that prices will rise by 20%, according to recent estimates by the University Torcuato Di Tella (UTDT). And in the higher classes reach the projected increases to 25 percent.
"According to latest projections, adjustments for 2010 for non-unionized personnel will be between 14 and 16.5%, ahead of the director of the prestigious consulting firm Watson Wyatt Argentina, Marcela Angeli.
Before an audience made up of executives from multinational frontline Angeli explained that most companies are budgeting, looking to next year, between one and three points because they know that, as happened in 2009, will have to negotiate the final number with the parent and complete closing at the same percentage that year.
course also emphasized as the director of Watson Wyatt, there are companies that corporate-wide standard for poor performance or the parent, continue to believe that in 2010 the executive salaries, without exception, will be back in the freezer .
Regarding the criteria that routed the better paid, Angeli said that inflation will be the first place. For some companies will be true for others, the official.
And, based on a survey of HR managers from the study Mayaca & Suarez Battan Asesores emphasized that "wage hikes be more moderate "so" more difficult to retain the internal talent.
Subas 2009 version
The top executives were those who lost more purchasing power this year compared to price increases did not truce.
According to data Recent CEOs perceived an improvement in their basic pay (13 salaries insured without the variable or benefits) of 11% over 2008, while for senior management and middle managers was 12% and for middle 13 percent.
According to a survey conducted by Watson Wyatt, the following are the figures were handled for remunerative levels of senior management of a multinational firm, on a sample that includes nearly a hundred companies of different industries.
"The general managers' salaries are among the least developed. In fact, some companies chose corporate partially implement the effect 'freezer' and he went to the executives of the highest positions in the pyramid, "Angeli said.
At this time of year, between 75% and 80% of firms gave the market and salary adjustments for non-unionized staff (analysts, managers, supervisors, managers, directors and CEO). And, according to estimates by the consultant, the other organizations will do before December.
For this group of employees, improvement in 2009 will be within the range of between 12.5 and 15%. "If I had to risk a number say 14.5%, slipped Angeli. However, he clarified that are averages, as markets are heavily affected by international crisis and recession that caused local increases have not exceeded 12 percent.
Among the most affected, the director of Watson Wyatt said the technology market (IT), while the most competitive in the industry said consumer and pharmaceuticals, which "will about 15% and in some c
asos over. " Meanwhile, oil companies and automakers were among the most delayed their decisions and are only now beginning to make adjustments. Why
increases were
"In 2009, market performance was quite uneven, relied heavily on the industry. This situation was not in 2007 or in 2008, "Angeli said.
However, when granting the increases, employers agreed criteria were used:
* Inflation
* Performance * The competition for the market
According to Watson Wyatt's executive, "this year the price rises again to be a pretty heavy indicator within the three criteria, a situation not seen as highlighted in previous years and will be repeated in 2010." About
saw improvements Based on recent survey of consultant-conducted in 96 companies and 64 were examined executive positions, 62 managers and analysts in person 129 from more than 12 economic sectors in the market There were three types of local settings:
* 57% of companies gave general wage increases and selective. That is, granted an increase As for all staff to recognize the evolution of official prices and in turn arranged for a supplementary budget that distributed selectively, either for performance or because the key positions.
* 28% was limited to give general upload (mainly local groups and some regional companies and not-so-corporate).
* And a third group (15%) gave only selective increases. In this case, some employees left without receiving improvements because although the staff reviewed all ended up giving merit and market value but not for inflation. Thus, sectors such as IT only granted one-off adjustments, as it was one of the most affected in terms of global decisions wage freeze.
What comes
In 2010, when closing the final number of increases, many of the background of this 2009 will not play in favor. Among them, the more weight that will be the loss of real wages and increasing flattening of the wage pyramid after increases achieved by the unions.
"The overlap is again rife and will be deeper than in the past two years," he said Angeli.
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