According to a study published by the firm Willis Towers Watson (WTW), the average revaluation of remuneration in seven major economies of the world should exceed 4% next year. Inflation partly explains the decision to grant a more generous raise.
Increases above 4% in 2023
In response to the galloping rise ininflationbut also to tensions in the labor marketcompanies are revising upwards the salary increases for 2023. In seven major world economies, the average increase in compensation is expected to exceed 4% next year, according to a study published Tuesday, November 6 by the consultancy and insurance brokerage firm Willis Towers Watson (WTW).
Up to 6.6%
Employers in France are reportedly considering a 4% increase in wages next year. The United States is considering a revaluation by 4.6%. The increase would amount to 5.67% in China. The planned percentage in 2023 is higher than in 2022 in six countries (Germany, Canada, China, France, United Kingdom and United States). Brazil is an exception, as the average rate of its Salary increase will be 6.6% next year while it reached 7% in 2022.
Difficulties in hiring and keeping employees… forecasts for 2023
This year, companies have had a much harder time recruiting and retaining their employees than in 2021. Forecasts are more divergent for next year. While Chinese companies expect recruitment tensions to continue, Canadian and US entities see an easing. Germany, Brazil, France and the United Kingdom still fear difficulties in hiring and retaining their employees.
