Salaries in Moldova still much lower than in region

Managing the human capital and its efficient development is the key of success. This is realized better and better by managers in the world and in Moldova. The priority of every company willing to develop is to invest in people, while the wage policy is one of the most important aspects, directly influencing the staff’s efficiency and motivation, said Csaba Gergly, a senior manager with Pricewaterhouse Coopers Romania. He presented a research called “Salary Study and Pay Well Benefits in Moldova 2008”, on October 16. As Info-Prim Neo News Agency reports, the research has been carried out on 24 companies, 83% of them having foreign investment only or mostly, which operate in four sectors of economy: Industries, IT & Communications, Finances and Oil & Gas. Some 74% of them have a turnover of over 50 million lei, while the average number of employees is 350 per company. Gergly says a similar research was made last year and the number of companies tested rose 40%. The gross average salary was 4,228 lei, that is 66% more than the average salary in Moldova ( in May is was 2,537 lei). The highest salaries are reported in the IT & Communications sector 307%, as to the average. All the researched sectors project to rise the salaries in 2009: in FMCG and Industries – by 16, in IT& C by 17%, in finances by 13%, in gas and oil – by 14%. A strange thing met only in Moldova, according to Csaba Gergly: the pace of raising the salaries of managers and specialists is smaller (15% and, respectively, 14 %), than the salaries of the so-called supporting sectors, as accountancy by 19%. The survey also uncovers changes in the structure of the wage packet – the size of the fix salary is down, while the awards for performance are up. The bonuses offered to the employees are kept: paying for travels, meals, selling the company’s goods at lower prices, as new ones emerge: paying contributions to private pensions, participating to the company’s profit, offering life insurances by the company, etc. One of the conclusions of the study is that the 16% growth pace of salaries, year in year, is maintained in Moldova, this being a natural consequence of the economic growth recorded by the country. But in Moldova the salaries are much lower than in Slovakia, the Czech Rep., Hungary, Romania and other countries in the region. For example in Hungary the salary is twice as big as in Moldova.