Worldwide companies are planning to supply a median of 5% improve this yr.
In South Africa that determine is considerably increased coming in at a deliberate common of 6.1%.
That is based mostly on a survey (by WTW) of 440 massive organisations throughout SA.
‘In South Africa that determine is considerably increased coming in at a deliberate common of 6.1%’
This determine is after all a median which means that some companies might supply 12% whereas others might supply 0% will increase (and even diminished salaries equivalent to occurred in the course of the Covid Pandemic).
Whereas most companies reported feeling optimistic about 2024 there are elements at play that will have an effect on native inflation and the financial system such because the wars in Europe and the Center East (and the political manoeuvring happening about these conflicts) and upcoming native elections.
Mixed with these elements are the weakening Rand and elevated delivery and gas prices.
This will imply that workers sadly see inflation outstrip their will increase.
