The latest labour market monitoring by CV-Online, an Estonian job portal, shows that 75 per cent of employees do not consider their salary to be sufficient and are still waiting for a salary increase from their employers.
The survey reveals that employees can no longer wait for a salary increase, because almost 50 per cent of respondents have already decided to look for a new job. When choosing a new job, 81 per cent of the employees who responded considered the amount of salary to be the most important.
Estonian employers are working hard to remain competitive on the labour market and offer fair wages to their employees.
“Taking into account the effect of inflation, employers have already made internal salary adjustments in previous periods,” CV-Online marketing manager Karla Oder said. “However, the current general labour market situation rather supports a slowdown in wage pressure and this is due to a decrease in the number of vacancies.”
Altogether 46 per cent of employers have increased their employees’ wages in recent months, and just as many have managed to keep wages the same. Only 12 per cent of employers have the long-awaited salary increase planned for the near future.
Most employers don’t dare to promise large salary increases
Loyal employees are highly valued by employers, and with 73 per cent, this has also largely been the motivation for salary increases. Altogether, 46 per cent of employers state that wage pressure from employees has caused them to increase wages. A little over a quarter of respondents, or 26 per cent, wanted to help employees better cope with inflation and therefore increased wages.
However, 80 per cent of employers do not dare to promise large salary increases in the coming months and the salary figures are planned to be kept at the same level as they have been until now. However, there are 12 per cent of employers who plan to increase their employees’ basic salaries in the coming months.
Although the 16-20 per cent salary increase anticipated by employees is not to be expected yet, employers are able to carry out salary increases of three-four per cent, while a slightly smaller share, 26.7 per cent, of employers have set their goal to increase the total salary by five-six per cent, and the same share of respondents are planning an increase of seven-eight per cent.
CV-Online conducted the survey in July.