Wages: flat growth with some (significant) exception
Wages: flat growth. The pay sector is shaping up to be considerably reduced. In fact, in particularly healthy companies the growth is stable, to be rounded down: an increase of 1% last year year, and for the next year an increase of 1.5% against the 1.6% expected in 2018; in 2016 the increase was 2.7%. The sample of 508 companies with an average of 493 employees and 220 million in turnover is selected in the research of the Observatory on the remuneration policies of WTW, Will Towers Watson.
Purchasing power. More and more reduced. The Italian workers portfolio loses weight and consistency due to wages that do not hold up the pace of inflation: if in 2017 the dyscrasia was more contained thanks to inflation to 0.9%, when next year will rise to 1%, the purchasing power of Italians will be even weaker.
A search of the WTW. According to the experts of the WTW the negative conjuncture is still there and it is felt, especially in some sectors and affects indistinctly companies of household products, appliances, luxury cars and produces 70 crisis in progress according to the ministry of economic development, with more than 85000 workers involved.
But other factors affect this average. The entry into the system of increases due to renewal of contracts, seniority shots, strong digital salaries, which are based on values related to increases of 15-20%. While some salaries rise by force of inertia, in some sectors of the economy the reduction is due to the turnover for which young people take over from pensioners.
Sectors that are the exception. In general, the Oil & gas, banks and manufacturing are sheltered for now by these contractions: with values for the current year and the next ranging from 1.4 to 1.7%, with the retail at the top of the ranking with 1.9%.
The forecasts are not rosy. In general the trend sees bonuses below the goals and a predominantly masculine business environment, in which women in apical roles are only 15%. Not to say wages significantly lower than equal duties. For the next year only one company out of four predicted a 2% increase in salaries.