Inflation in the Czech Republic now exceeds 14 percent, so real wages are falling sharply.
The survey shows that 16 percent of respondents have already seen higher wages this year, while 27 percent expect their current employer to add them to their wages during 2022. 26 percent of respondents are currently changing jobs and expect to take up a new position on better financial terms. 31 percent of respondents do not expect a wage increase this year at all.
According to the Czech Statistical Office, the average wage in the Czech Republic increased by four percent year-on-year to CZK 40,135 in the last quarter of last year. In real terms, however, taking into account rising consumer prices, monthly earnings fell by two percent. The median, ie the average value of wages, rose by 4.9 percent year on year to 34,360 crowns.
“The Czech survey completely copies the world trend. The same percentage of people, ie 31 percent, do not expect a higher salary this year. It has already recorded an increase of 57 percent, or it will happen this year. 12 percent of global survey responses are neutral. People do not yet know what strategy they or their employer will be interested in, “commented Sándor Bodnár, Director of Hays for the Czech Republic and Romania, on the results of the survey.
Given that inflation is a global problem, according to him, applicants can expect further pressure to accelerate wage growth this year. “Despite the difficult situation on the labor market, many employers choose a more cautious approach and prefer individual increases instead of widespread wage increases, usually when recruiting a candidate for a role that is critical to the company’s functioning,” added Bodnár.
