55% of companies will not raise salaries

55% of Peruvian companies do not plan to raise salaries this year, according to the regional report carried out by Boomerang. This result reflects a decrease compared to the previous year, in which 69% of the human resources specialists surveyed planned to make an increase.

“This decision It is mainly attributed to the recessive economic context experienced during 2023,” said Dora Pinedo, Head of Marketing at Bumeran Perú to La República.

The study also reflects that last year 58% of companies in the country did not raise salaries, in contrast to 42% that said they did. Other countries that confirmed that the increases did not materialize were Panama (65%), Ecuador (58%) and Chile (45%); while in Argentina only 14% affirmed it, so 86% would have raised salaries.

Other results of the report reveal that 71% of employers is considering hiring new personnel in 2024, which is the highest percentage in the region, followed by Ecuador (67%), Argentina (65%), Panama (65%) and Chile (54%).

“Companies plan to hire new workers due to factors such as the progressive growth of the economic and business sector in the country, the implementation of new projects in organizations, changes in working conditions, labor market demand, personnel turnover and adoption of new technologies,” explained Pinedo.

It is worth specifying that Hiring expectations for human resources specialists for 2023 were higher, reaching 93.33%; But due to the recessionary period that the country went through last year, this intention has been reduced by 23.8%, said Bumeran.

What do workers expect?

About the job prospects Of Peruvians, 43% hope to get a job, while 20% would like to change jobs.

When asked if they are satisfied with their current salary, 67% said no.

Regarding the work goals achieved last year, 64% said that they did achieve it. The main objective was to change jobs (47%), followed by getting a salary increase (34%).