83.5% of workers would be willing to change jobs if they were offered a higher salary than at present. However, it turns out that 68.4% of organizations do not plan to increase the salaries of employees in the near future.
The summary of the salary survey is based on a survey conducted by CV-Online Estonia (CV.ee) in June 2022, which examined whether organizations plan to increase the salaries of employees in the near future. In addition, people of working age were asked whether they were satisfied with the current salary. The survey involved 254 organizations from different fields of activity and more than 4,000 people of working age.
New job only in extreme cases
The survey showed that people of working age usually expect a 10-11% increase in wages. Respondents expect stable wage growth in line with inflation. Professionals, skilled or unskilled workers, service or sales workers and managers have the greatest dissatisfaction with the remuneration they receive. Respondents also agree to change jobs, provided that >30% higher wages (54.6% of respondents) or 16-30% higher wages (25.4%) are offered. 12.8% of respondents are not willing to change jobs for a higher salary. To a lesser extent, it is pointed out that there are no suitable higher-paid jobs on the labor market and everything depends on supply (availability of other additional benefits, working environment etc.). In addition, they do not necessarily agree to do any kind of work for higher pay.
"The results clearly reflect the situation in the labor market, where jobseekers are extremely passive in the market and are only ready to apply if the new employer is willing to offer significantly better wage conditions. Although they are not satisfied with their current salary, they are not in a hurry to apply, as there is a wait-and-see attitude, "says Karla Oder, Head of Marketing at CV-Online Estonia.
The chaotic market situation makes cautious
However, the survey revealed that organizations usually plan to increase wages by 7-9%, which may not directly meet the expectations of employees. Organizations forecast salary increases for professionals, skilled or unskilled workers, service or sales staff, and managers. Organizations are mainly driven by wage and labor market changes and inflation, which shows that organizations care about maintaining the motivation and job satisfaction of their employees.
68.4% of the responding organizations do not plan to increase the salaries of their employees in the near future. The main reasons were the salary adjustment at the beginning of the year and the arrival of the next salary review. Secondly, the chaotic market situation and the decrease in workload were pointed out.
The survey was conducted by CV-Online Estonia (CV.ee) - a recruitment partner with long-term experience, who offers a wide portfolio of services and special solutions aimed at employers and jobseekers.