Romanian Salaries To Grow By At Most 10% In '09Publish date: 12-12-2008
The growth pace for salaries in the Romanian private sector will slow down next year by at most 10%, due to reductions in human resources budgets and delays in recruitment, while the number of benefits will be reduced, as benefits will be selected depending on staff needs and performance.
"Salaries have grown too fast in Romania and I believe the current crisis will ease the situation. For example, the salaries of people in Bucharest have grown, from one year to the next, by 10%-20%, depending on sector and level. I expect the increase to slow down considerably in 2009 and 2010," said Steve Moroz, country manager with recruitment company Hudson.
He added the current financial crisis determined a large part of the companies to stop hiring, and the sectors with the most visible tendencies in this respect are banking, real estate, construction and human resources consultancy, respectively recruitment and training.
According to HR specialists, companies will try to pressure the results of employees, and focus less on their stimulation through salary hikes and other benefits.
"Companies will realize they need competent specialists to navigate this crisis well," according to Silviana Boian, head of the research department within the executive search consultancy company Alexander Hughes.
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