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A study carried out by the British-American multinational company Willis Towers Watson Public Limited Company (WTW) warns that next year hundreds of companies in the American Union could increase the wages of their workers by 4.6%.
After consulting 1,550 companies from various sectors, the insurance consultant determined that, cWith the objective of retaining their best workers in the midst of a highly competitive labor market, several companies are willing to resort to laying off unproductive workers and increasing prices for what they produce or sell.
The strategy consists of raising a certain amount of money and allocating it to increase the salary of the best-performing collaborators in the workplace so that they can face inflation without the need to look for new jobs.
According to Hatti Johansson, research director of rewards data intelligence at WTW, companies want to anticipate a possible recession and therefore seek to win the loyalty of their most efficient employees.
“As inflation continues to rise and the threat of an economic downturn looms, companies are using various measures to support their staff. In this sense, organizations must prioritize their actions based on the needs of both employers and employees,” he said in a press release.
According to its analysis, WTW noted that about 77% of the companies it consulted acknowledged that the salary increases granted to their employees this year were due to inflation in the midst of an increasingly competitive labor market.
Nevertheless, 70% of these companies also accepted having spent more than expected in recent months, since so far this year their salary budgets have increased by 4.2%.
In addition to pay increases, nearly two-thirds of the companies surveyed had to give their employees more flexibility in the workplace, and nearly half agreed they were considering further improving their employee experiences in other ways.
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