Wage projections for 2021 vs. coronavirus

As we know, the situation in the labor market is difficult and at the same time dynamic. Entrepreneurs have quite a conundrum where to invest the capital of their companies, or perhaps save it, because no one really knows how it will all turn out next. Despite the numerous uncertainties that arise, the situation does not frighten our domestic employers - quite the contrary!

Grant Thornton

According to a report published by Grand Thorton, two out of five heads of large and medium-sized companies are confident that they will raise the salaries of their employees in 2021. Unfortunately - despite the positive declarations of raising salaries, the poor figures are those for hiring new people. Only one in four medium and large companies surveyed by Grant Thornton plans to hire new employees in 2021 (24 percent), however as many as 17 percent anticipate layoffs. The aforementioned two out of five companies and their declarations regarding their willingness to increase wages for their employees in 2021 is a result, as much as six and a half times better than companies that declare wage cuts. Pinning this information down to net pay, it means that only 33% of employers intend to "cut" pay

Hays Poland

Another company presenting a salary report, in a pandemic situation, is Hays Poland. Its research shows that 57% of companies have included pay increases for their employees in their 2021 strategy. The companies that appear most often in the list are those in the life sciences, manufacturing, finance and accounting and IT industries. Employees themselves, on the other hand, show moderate optimism about salary changes in the current year. Raises are expected by 34 percent of respondents, while 28 percent expect earnings at least at the same level. Uncertainty in the labor market meant that as many as 36 percent of survey participants could not answer this question.

As can be seen from both statements, the situation looks strongly uncertain, but there are positive "bells" as well. In recent times, our government has loosened restrictions, and let's hope it's for good and that they are a harbinger of an imminent return to our old daily..