A striking 84% of Czech companies have ambitious plans to elevate employee salaries this year, signaling optimism and a commitment to investing in their workforce. According to a survey conducted by the personnel company Randstad, salary increments of up to five percent are anticipated by over two-fifths of companies, with a similar proportion eyeing increases of up to ten percent. Remarkably, the number of firms intending to hire new employees exceeds those contemplating layoffs.

Martin Jánský, General Director of Randstad, underscores the significance of this trend, emphasizing that companies recognize the value of investing in their employees to foster talent retention and development within their teams.

The survey findings reveal that a significant challenge for 64% of respondents lies in retaining top talent and nurturing future leaders. Salary adjustments are deemed the most effective solution, followed by training initiatives and tailored employee benefits.

Lifestyle-oriented perks such as additional vacation days remain popular among companies, although there has been a slight decrease compared to the previous year. Similarly, offerings such as remote work options and flexible schedules continue to be favored benefits, albeit experiencing a marginal decline year-on-year.

In terms of financial benefits, meal vouchers or catering contributions remain prevalent, with 92% of companies offering such perks, albeit marginally lower than the previous year. Additionally, three-quarters of firms provide selected employees with mobile phone usage, while two-thirds contribute to life insurance premiums.

A notable aspect of the survey is the significant hiring intentions among Czech companies, with a quarter citing increased sales as a key driver for recruitment. This underscores a positive outlook for economic growth and job creation within the Czech Republic.

The survey results reflect a buoyant sentiment among Czech businesses, with a strong focus on nurturing and rewarding talent amid evolving market dynamics. As companies prioritize employee well-being and development, they position themselves for sustained success and competitiveness in the marketplace.

Article by Prague Forum