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deRainfall December 13, 2007

The Labor Market in 2008

The changes that the companies policies related to salaries will undergo in 2008, not only will attract and retain the employees, but they will also increase their loyalty.

This all happens due to continuous expansion of the companies, the increased deficit of personnel, and the increased personnel fluctuation (in 2007, the voluntary personnel fluctuation increased to 21% compared to 15.9% in 2006).

It is estimated that, in case the level of inflation will continue to increase in 2008, the salaries will also rise up to 15%.

In 2008, the average values of salaries increases for top management positions will be between 10% and 15%, for executive positions up to 11%, while the salaries for unqualified positions will rise up to 25%, because of the increase of the minimum salary.

Besides these increases, employers become more and more inventive in granting benefices in order to keep their employees’ loyalty:

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The changes that the companies policies related to salaries will undergo in 2008, not only will attract and retain the employees, but they will also increase their loyalty.

This all happens due to continuous expansion of the companies, the increased deficit of personnel, and the increased personnel fluctuation (in 2007, the voluntary personnel fluctuation increased to 21% compared to 15.9% in 2006).

It is estimated that, in case the level of inflation will continue to increase in 2008, the salaries will also rise up to 15%.

In 2008, the average values of salaries increases for top management positions will be between 10% and 15%, for executive positions up to 11%, while the salaries for unqualified positions will rise up to 25%, because of the increase of the minimum salary.

Besides these increases, employers become more and more inventive in granting benefices in order to keep their employees’ loyalty:

The changes that the companies policies related to salaries will undergo in 2008, not only will attract and retain the employees, but they will also increase their loyalty.

This all happens due to continuous expansion of the companies, the increased deficit of personnel, and the increased personnel fluctuation (in 2007, the voluntary personnel fluctuation increased to 21% compared to 15.9% in 2006).

It is estimated that, in case the level of inflation will continue to increase in 2008, the salaries will also rise up to 15%.

In 2008, the average values of salaries increases for top management positions will be between 10% and 15%, for executive positions up to 11%, while the salaries for unqualified positions will rise up to 25%, because of the increase of the minimum salary.

Besides these increases, employers become more and more inventive in granting benefices in order to keep their employees’ loyalty:

  • Optional pension programs could be a benefit with a powerful entrance in the employee’s packages. According to the law, employers can contribute in the benefit of their employees at the optional pension funds.
  • Another tendency regarding the next year’s salary market could be the extention of long term benefits, such as stock option plans for managers or key-employees.
  • Training programs are also a major motivational component for the employees and for this an important increase for 2008 is expected.

The training market – 50 million Euros in 2008

The training market will increase from 30 million euro in 2007, up to almost 50 million euro in 2008.

Clients started to prefer training programs specific to the Romanian market, compared to imported and translated programs.

Also, experiential learning will increase compared to the classic training. At the courses, the participants are encouraged to learn from other’s experience, and especially to build their own experience.