All the Answers
Well-known member
Eight out of ten professionals consider that they were unable to rebuild their income due to the effect of inflation - Infobae
Source:
Ocho de cada diez profesionales considera que no pudo recomponer sus ingresos frente al efecto de la inflación
Si bien la mayoría tuvo ajustes salariales en los últimos tres meses, los aumentos no alcanzaron a cubrir lo perdido por causa del aumento de los índices de precios
www.infobae.com
May 17, 2024
Although the majority had salary adjustments in the last three months, the increases were not enough to cover what was lost due to the increase in price indices
By Mariano Zalazar
51% of professionals are dissatisfied with their current salary level.
According to a study carried out by the global recruitment company, PageGroup, eight out of ten Argentine professionals consider that their salaries have not risen enough to counteract the effect of inflation in the last year, including the peak that occurred in December and January. .
“In the challenging economic context in the country and the world, professionals still expect higher salaries to keep up with the increasing cost of living. In Argentina, 79% of professionals consider that they received an insufficient adjustment against inflation during 2023. 51% are dissatisfied with the salary and 63% consider this dissatisfaction as the main reason for actively seeking a new position,” They explained from the consulting firm.
“This disparity highlights the difficulty that companies face in meeting the salary expectations of their employees in a complex economic context. That is why it is crucial to offer competitive salary packages aligned with the expectations of the labor market,” said Miguel Carugati , Managing Director Argentina & Uruguay of PageGroup.
Indeed, data published by the National Institute of Statistics and Censuses (Indec) demonstrate that workers' dissatisfaction with their salaries goes beyond a simple perception. In 2023 the Consumer Price Index (CPI) advanced 211.4% and salaries did not even come close to the 200% barrier. In detail, during 2023 the salaries of formal private workers - where the majority of professionals are found - increased 165.8%, while the income of public sector workers had a nominal increase of 148.6%. Informal wage earners, for their part, achieved an increase of only 115.3%.
Salaries lost against inflation in 2023 and in the first quarter of 2024. (Franco Fafasuli)
Nor was there parity between salaries and inflation in the first quarter of this year. According to the values reported by Indec, the income of employees rose on average 45.5%, compared to inflation that reached 51.6%. Those who lost the least were workers in the registered private sector, who had an adjustment of 50.5%. Further behind were public sector employees (43.2%) and informal workers (29.1%). This means that, at least for now, salaries have not been able to recover the ground lost in 2023.
Despite this, companies in Argentina are making efforts to address the impact of inflation on wages. According to the study, 79% of employees have received an adjustment in the last three months.
Home office or in-person?
The PageGroup study also revealed that 87% of candidates consider work-life balance to be the most important factor in their employment, even more than salary. As part of this trend, 72% of Argentines prioritize having a hybrid or flexible work arrangement. However, only three in ten employers consider it relevant to recruit or retain talent. In fact, more than a third of candidates are working in the office more than they did a year ago and 52% are currently working in a hybrid scheme.“Argentinians are demanding autonomy and the ability to work flexibly, no longer as an optional benefit but as something they expect from a job, which represents a challenge for employers who want to get people back to the office,” said Carugati. .
Use of AI
Although AI tools are not yet fully implemented in all roles, they are already impacting people's career decisions. In the country, 24% of employees are using them in their jobs, while on a global scale 33% do so. 40% of Argentines believe that AI will affect their long-term career plans.“Providing a clear vision on the future role of AI, and offering growth opportunities in an environment where these tools improve efficiency and productivity, will help retain professionals and attract new talent,” said Carugati.
