The unstable economic situation, lack of financial support, rising cost of living and wages not meeting expectations have increased anxiety and uncertainty among workers. Many workers are worried about keeping their jobs as companies face difficult economic conditions and possible layoffs. /nginx/o/2024/05/20/16086903t1heb56.jpg)
Wallet. Photo: Aivar Aotäht / Sakala
The unstable economic situation, lack of financial support, rising cost of living and wages not meeting expectations have increased anxiety and uncertainty among workers. Many workers are worried about keeping their jobs as companies face difficult economic conditions and possible layoffs.
A labor market study conducted by the portal CV.ee showed that 77% of workers are worried about future salary changes.
“It’s clear that employees’ sense of financial security is at risk,” says CV.ee recruiter Andra Rand. “Although the number of job seekers in the labor market has increased significantly, finding suitable employees is becoming increasingly difficult, as people's salary expectations are often too high compared to employers' capabilities.”
The survey showed that 75% of workers are not satisfied with their current salary and plan to approach their employer in the near future with a request for a salary increase, expecting an increase of up to 20%.
Most employers do not plan to make any changes to wages in the coming months. Those who promise to increase wages will do so by no more than six percent, which indicates a large gap between the expectations of employees and the ability of employers to meet them.
Compared to last year, the figures remained virtually unchanged. But even then, most employers did not plan to increase wages, despite the high expectations of employees. This suggests that despite continued worker dissatisfaction, employers' resources and ability to raise wages remain limited.
Every eighth employee is ready to immediately change jobs if he is offered the opportunity to receive a higher salary. The high willingness of employees to change jobs indicates that pay issues have become a decisive factor in maintaining job satisfaction and loyalty.
For companies, this means they need to overhaul their pay policies and make strategic decisions to keep employees motivated and satisfied.
