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Wednesday 17.01.2018 | Name days: Tenis, Dravis

69% of company managers plan to raise wages of their employees

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUCompanies in Central and Eastern Europe are having more and more difficulties hiring and keeping skilled employees. An increase of wages is therefore expected to come in 2015, according to the latest corporate survey by KPMG Economy’s pulse 2014.

Corporate managers from Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania and Slovakia were interviewed as part of this survey. 69% of them plan to increase wages of their employees in 2015. 50% of them expect a 5% increase. As stated by 37% of respondents, the average increase will range within 2% to 4.9%. 41% of respondents believe the main reason for wage increase is the lack of skilled employees and requests from employees. 28% of respondents believe this can be explained with increased productivity. 25% of respondents mention improved financial state. 50% of respondents do not plan any significant changes to their staff and 17% of respondents believe their number of employees will increase by at least 5% to 10%.

Matters of employment have become rather optimistic in regard to 2015. This is largely because of positive outlooks for the state of economies of Central and Eastern European countries. 52% of respondents expect a 1% to 2.9% of GDP growth in their country. 9% of respondents believe GDP will decline. 52% believe inflation in their country will remain below 2%.

«According to results of this survey, GDP will continue to grow in CEE region. Inflation will remain within acceptable borders. Because skilled labour and exports are two main engines that provides economies with competitiveness, attention will be drawn towards matters of employees,» – comments KPMG Baltics partner Armine Movsisjana.

«Corporate managers support the raising of the threshold for labour social insurance tax. This will only benefit the competitiveness of different companies. At the same time, they agree that it is necessary to make it easier to administer taxes and give preference to a fixed, not progressive tax rate,» – says KPMG Baltics Senior Manager Edgars Voļskis.

75% of respondents in Central and Eastern Europe believe the shadow economy is a problem and the most painful matter is tax avoidance.

69% of corporate managers who took part in KPMG’s survey also plan to perform investments specifically aimed at the domestic market and neighbouring states.

Ref: 102.109.109.6783


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