In 2022, wages will increase less quickly than inflation

Faced with inflation, which reached 6.1% at the end of July in France, and even more so in the face of recruitment difficulties, will companies let go of ballast on wages? According to the WTW group (Willis Towers Watson, formerly Gras Savoye), which carried out its traditional global survey on compensation, the salary increases granted by French companies should average 3.1% in 2022. figure clearly lower than that of the price increase, but which remains in significant progression compared to the tendency of these last years. From 2010 to 2019, the average increases did not exceed 2.5% per year, while 2020, the year of Covid-19, even saw the figure fall to 2%.

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In 2023, companies could agree to increases of 3.3% on average, according to the survey. “This figure could even be revised upwards at the start of the school year, given inflation expectations, and reach 3.5%, which would be unheard of since 1985”emphasizes Khalil Ait-Moouloud, director of the compensation survey activity at WTW.

No more misers

The average of 3.1% for this year obviously covers results based on sectors of activity, professions and job levels. Salaries are therefore increasing much faster for digital, data and cybersecurity professionals. For the rest, the finance sector, new technologies (and particularly activities involving semiconductors) and fintech are placed “top of the range” in terms of salary compensation.

If companies agree to make an effort, it is not only to preserve the purchasing power of their employees, but also to succeed in recruiting

Conversely, retail banking, agri-food, tourism and accommodation-catering were more miserly. In terms of job types, managers and executives fared the best, with payroll boosts of 3.1% to 3.2%, while blue-collar and supervisors are content with 2.9% to 3%. It should be noted that French employees are doing less well than their European neighbours, where the anticipated increases in remuneration are higher: for 2023, they stand at 4% in the United Kingdom, 3.8% in Germany and 3 .6% in Spain. It is true that inflation is much higher there. In July, the year-over-year price increase reached 9.4% in the United Kingdom, 8.5% in Germany and 10.6% in Spain.

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