Survey: Companies expect significant wage increases

Many employees can expect significant wage increases in the coming year.

Survey: Companies expect significant wage increases

Many employees can expect significant wage increases in the coming year. The vast majority of HR managers surveyed by the Ifo Institute and the personnel service provider Randstad expect wage increases of an average of 4.7 percent in their own company.

For the study, the economic researchers surveyed 686 HR managers from industry, trade and service companies. 82 percent of those surveyed expect wages to rise and 17 percent expect them to remain the same. The industrial companies surveyed are planning on average 4.0 percent higher wages. The trading companies are calculating 4.9 percent more, the service providers surveyed are calculating wage increases of 5.2 percent.

Half of the companies surveyed stated that their workforce will remain the same in the coming half-year. 19 percent want to cut jobs, 32 percent plan to add more staff. Of the companies looking for staff, half said there were too few applicants.

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