Almost nine in ten Belgian employers (89%) do not plan to raise salaries in 2022, according to recruitment agency Robert Half’s 2022 Salary Guide.
“Although the majority of companies (60%) forecast positive growth in their activities, numerous Belgian employers face a tough challenge as they will not be in a position to give employees a pay rise,” Robert Half explained.
Barely 14% of surveyed employers foresee giving out bonuses in 2022 or showing their gratitude to employees by granting additional benefits, but an increase in wages is not on the cards with most managers Belga News Agency reported.
“Businesses do want to reward staff for their hard work carried out at a difficult time. But they often don’t have the financial means to show their gratitude with a pay rise. It is important that employers focus on what they are able to do, particularly in a job market saturated with talent. Alternatives to raising salaries can include bonuses, employees perks, and an appealing work environment that grants flexibility to employees,” said Joël Poilvache, director at Robert Half.
Employers are aware of the surplus of highly-skilled workers in a job market where many have lost jobs owing to the pandemic. Indeed, 37% of managers expressed their concern that the impossibility of raising salaries right now will prompt some employees to look for work elsewhere. 9% said that not being able to respond to expected pay rises makes it difficult to attract new talent, the study showed.
The Brussels Times