Do you want to know about the current situation on the remuneration market?

View this page in: Slovenčina

Would you like a tool that will assist you in human capital management? Are you interested in trends in personnel policy and strategy?

The interactive PayWell study – a tool for remuneration planning – gives a current overview of remuneration on the market, including information and trends relating to HR policy and strategy. We have mapped almost 500 job positions.

The survey outputs are an important tool for effective remuneration planning in companies striving to succeed in the competition for recruiting, retaining, and motivating high-quality staff. They are also helpful in reviewing your remuneration strategy (including the classification of job positions), preparing the staff costs budget, setting-up the salary structure and salary levels, identifying in-kind incentives, proposing solutions for tax optimization, and providing linkage between remuneration and staff performance evaluation.

What will you get?

The outputs of the PayWell survey are available online as well as on a CD ROM in both Slovak and English. The complete output contains:

  • JobPage – a clearly arranged analysis of wages and salaries for a given position on a single A4 sheet. It is a comprehensive overview of how individual job positions are remunerated;
  • Individual comparison – a tool allowing interactive comparison of salary information with market data and its modification, if needed;
  • Report on employee benefits – clearly arranged (as regards contents and graphics) analyses provide an overview of employee benefits offered on the Slovak market, by sector and job categories;
  • Individual comparison of offered benefits - comparison of the benefits package offered by your company with the market and sector;
  • Materials dealing with the current labour law;
  • Job position catalogues, together with job descriptions; and
  • Appendices – current trends in managing human capital.

What is your position compared to your competitors?

Compare yourself with other companies in your industry and find out which HR management indicators affect the financial performance of your company.

Find out more about HR Controlling.

This year, 290 companies from 18 industries participated in the survey. The ICT sector offers the best salaries to its employees, and its salaries are more than one-fifth higher than the market average. The pharmaceutical industry previously ranked first for several years. Salaries in the banking sector are also above average. The lowest paid employees work in the engineering sector.

Sectoral indexes – ICT salaries are more than one-fifth above the Slovak market average

  • This year, a change occurred in the top rank where after long-term leadership, the pharmaceutical industry was replaced by ICT. The remuneration of ICT staff is 22% higher than the Slovak market average.
  • This sector is followed by banking, the automotive industry and energy.
  • Engineering is the least well paid industry at 22% below the Slovak market average.

“The results of this year’s survey show that base salaries in the automotive industry were higher than in the energy industry, compared to last year. A slight improvement in base salaries was recorded in the ICT and banking industries”, added P. Lackó.

Actual and planned salary increases

  • In 2016, Slovak companies plan to increase base salaries by 2.9%, which is at the same level as the plan for 2015.
  • Originally they planned a 3.2% increase in 2015. However, in accordance with PayWell, the actual increase was 2.8%.
  • In accordance with PayWell, the highest salary increases in 2015 were in the insurance and automotive sectors.
  • The slowest salary growth was reported in the energy industry.
  • In 2016, the highest salary growth is planned in the service sector and ICT.
  • The lowest salary increase is planned in the banking and energy sectors.

Salary increases (average)

Base salary

Original plan 2015

Actual increase 2015

Original plan 2015

Total sample

3.2%

2.8%

2.9%

Banking

1.4%

-

1.9%

Insurance

3.4%

3.8%

3.1%

Financials services

2.7%

2.7%

2.4%

Information and communication technology (ICT)

4.0%

2.3%

3.9%

Shared Service Centers (SSC)

3.0%

-

3.3%

Logistics and forwarding

2.1%

-

2.3%

Trade and distribution

4.1%

3.3%

2.8%

Fast moving consumer goods (FMCG)

2.7%

2.7%

2.3%

Services

3.8%

-

4.7%

Energy

1.4%

1.0%

1.6%

Car importers

2.3%

-

2.3%

Automotive industry

3.8%

3.8%

2.8%

Electrical engineering

-

-

3.0%

Machine engineering

3.3%

2.4%

2.9%

Manufacturing

3.4%

3.2%

2.9%

Pharmaceutical

2.9%

2.9%

2.8%

Regional differences in salaries

  • The PayWell survey confirms once again that the highest salaries are in Bratislava and/or in the West Slovakian region.
  • The level of guaranteed salaries in West Slovakia is 14.7% lower than in Bratislava. East Slovakia is just behind West Slovakia (16.5% less than Bratislava), then follows Central Slovakia (16.6% less than Bratislava).

Most frequently offered benefits

In 2015 (May 2014 – April 2015), the costs of employee benefits amounted on average to EUR 829 per employee per year. Compared to last year, this is a 15% increase per employee.

The most frequently offered employee benefits include provision of:

  • meal vouchers;
  • mobile phones and coverage of costs of private calls;
  • support of social, cultural and sports events for employees;
  • extra days off;
  • insurance contributions;
  • training courses (not directly related to the area required for particular job performance),
  • discounts on the company’s products or services.

Do you want to find out more? Contact Patrícia Šimák, on +421 2 59350 297 and get PayWell 2015 – the remuneration and planning tool.