This is one of the conclusions of the Manpower Bulgaria survey "Salaries and additional benefits - trends" (SATR H2 / 2021), which analyzes what changes are planned by employers from all sectors and regions of the country in terms of monthly wages and bonuses over the next six months.
Salary projections
Almost half (49%) of the 513 employers surveyed say they will increase wages up to 20%, two percent predict higher growth, and in most companies the planned changes will affect all employees regardless of the position they hold.
"It is encouraging that less than one percent of the Bulgarian employers plan to reduce monthly salaries, while every second company plans an increase. An interesting trend is also observed in the equalization of wage levels in Sofia and in the country - a development largely caused by the opportunities for remote work, which have become the norm in the last year, "said Maria Stoeva, Sales and business development team lead in Manpower Bulgaria.
The talant shortage for deficit positions is one of the main reasons why employers from various industries are planning to increase salary levels. Massive increases are expected in the sector with the highest demand for specialists - "Information Technology", where less than a third of respondents say they will not change pay levels.
In the Manufacturing sector, 49% of employers plan to increase the salaries of their employees, 44% forecast growth in the Trade sector and 58% in the Consulting sector. Mass increases are also planned in the Tourism and Hospitality, Health and Pharmacy and Automotive sectors. The highest growth of monthly wages is expected in the regions of Sofia, Burgas and Varna, where employers forecast an increase between 10% and 20%, as well as in Plovdiv with a planned increase of 10%.
Additional benefits
Regarding additional benefits packages, the employers share more moderate plans - 76% do not forecast significant changes in this direction and 23% plan to add new benefits to the monthly packages of employees or to increase the size of the existing ones.
"As a result of COVID-19, more and more companies have started offering home office options for positions that allow it and additional health services such as psychological counseling. These have become sought-after benefits from the candidates, but we must not forget that excellent working conditions, good organization of work processes and custom work proposals, adapted to the expectations and needs of employees remain a priority for talents looking for long-term career opportunities" added Maria Stoeva.
The study "Salaries and additional benefits - trends" is the first in a series of regular surveys of Manpower Bulgaria on the plans of employers in this area. They will be held at the end of each six-month period to identify their attitudes for the next half year.