In 2022, companies plan to increase basic wages by 3.1%
PayWell 2021 Remuneration Study
Is your employee remuneration competitive?
The PayWell Remuneration Study analyses the overall remuneration strategy at companies and current trends in employee benefits.
In 2021, the study covered 283 companies from 16 sectors,
with more than 500 job positions analysed.
“Remuneration benchmark with the market was a top priority in recent years for majority of employers at slovak market. Based on the impact caused by pandemic situation, having relevant data and information is much more important nowadays.”
Ľudmila Guerin, CEE Strategy & Transformation Senior Manager.
Wages of slovak companies according to PayWell 2021
Planned wage raise of base salaries in 2022: 3.1%, which is almost in line, but lower than the 2021 plan (3.5%)
In 2021, planned total pay increase was 3.5%, meanwhile companies increased total pay of their employees by 4.1%, which is more than originally planned.
Selected statistics
13th and 14th salaries are paid in the automotive, mechanical engineering, production, and energy sectors and are still a significant part of remuneration components. Depending on the policy of individual companies, these wages are guaranteed or non-guaranteed.
More than a half or participants in our study perform their performance evaluation process once a year, 18% prefer doing this process twice per year.
14th salaries are paid in one fifth of participating companies.
About PayWell 2021
PayWell is a remuneration study and remuneration planning tool providing an up-to-date view of remuneration in Slovakia, including HR policy and strategy information and trends. The PayWell survey has been undertaken by HRS at PwC for 30 years in Slovakia.
The basis for the evaluation of remuneration data and information relating to remuneration policy, social policy, and employee benefits in 2021 is taken from an extensive diverse data sample from 283 companies in 16 business sectors. There is a higher demand from employers for information about the labour market and projections of its future development, as they constitute an important basis for making decisions and preparing future business strategies, including investments into growth and product portfolios.
* Guaranteed salary = base salary + all guaranteed benefits independent of the individual’s or company’s performance.
** Methodology or guarantee of an unbiased comparison: indexes are calculated based on a standard package of job positions which includes only those positions that are typically present in all firms regardless of the firm’s purpose or the sector in which it operates.
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