Salary rise is outlined for 2023, study shows that 86% of companies surveyed will do so

Unlike this 2022 in which 45% of a sample of companies made salary increases, for next year 86% of these companies will increase the salaries of their workers.

And it is that 2023 is emerging as a favorable period for the Ecuadorian labor force, according to the recent study by Andeanecuador Consultores Estratégicos CL, from the network of Deloitte consulting firms, which shows the economic recovery of the national productive apparatus after three pandemic years.

The research was carried out with 155 companies that together represent 110,496 workers: 67% Ecuadorian and 33% multinationals. The results show that 86% plan to increase salaries by 4.07% on average and that it is higher in national companies (4.45%) than in multinationals (3.59%). 11% of the sample will not make increases and 3% have not yet defined whether they will or not. In these projections, the sectors with the greatest increases are financial with 5.59%, construction and insurance with 4.70% each.

Another indicator of how the economic performance of the companies is going is the profits and this 2022 the paid grew 33% in relation to the previous year. The highest value reported by one of the surveyed companies was the payment of 10% of profits to each worker of $30,000 and $11,500 for each load.

“That is a very clear reflection that 2021 was much better. In the profits that are paid in April 2023, I would expect another growth, because the results that we have seen are going to be higher than those of 2021,” says Roberto Estrada, a consulting partner at Andeanecuador.

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In order to overcome the adversities of the pandemic and the recession, companies had to adapt and make big changes in order to continue their operations and recover from the negative impact. The research highlights that 89% of the companies report having changes in the functions of the positions, mainly focused on the areas of technology and operations.

These changes occur in positions that have to do with development and technology and those that are now the best paid, such as community manager, innovation and digital transformation coordinators, innovation specialists, engineering engineers software, sales executives in digital channels, managers of business intelligent. Here it is given that there is a reduced supply and a need for a wide requirement.

And although the digital transformation seemed distant in 2019, after three years in a post-pandemic 2022 it shows that 79% of companies consider that they now have a level of digital maturity between intermediate and mature. And this is because they have rapidly implemented technological changes, with an emphasis on digitizing their processes and constant updating.

Another factor that elucidates the digital transformation is the way of working: 68% of the companies have collaborators working remotely. 61% of organizations implement new work trends such as collaborative spaces.

Around this, three types of companies are identified: the traditional ones, which want to return to March 2020 and to 100% face-to-face; the most progressive, who understand that hybrid models work and can be combined and effective depending on how they are used; and the visionaries, who give the worker freedom to fix his way of working, his schedule, understanding that he will be productive with that freedom. And although there is the idea that in teleworking there may be some room for irresponsibility and non-compliance, Estrada indicates that it is not a problem of teleworking but of people.

For Estrada, in this 2022 there has been an improvement in most of the economic sectors of the country that could have been much better if they had not had those spaces of social imbalance, the protests that affected many businesses in what they were projecting for this year. Despite that, it is a year of growth. And it leaves the learning that by 2023 “we have to prepare ourselves beyond the projections we make, the goals we set for ourselves, that they cannot be non-ambitious goals, that there may be surrounding factors, both local and international, that play a role, an organization sets an objective and monitors to see if there is any situation that was not projected and could affect that forecast and take immediate action”.

He considers that if the conditions are not abnormal, it should continue on this path of growth, with investment, new products, the brands that continue to arrive in the country and with the commercial agreements that open doors for the companies that are in these lines of production and that imply hiring more people, innovating, “they are of great benefit and there is no need to be afraid of competition.” (YO)