The first impacts of inflation on HR policies in 2023
Cautious budgets in 2023, even salary policy freezes for some: here are the first impacts of inflation on HR policies, recognized by human resources managers themselves. “The Deloitte survey published in early March reflects the increases validated by company agreements, but there are also findings of disagreements”, said Monday, March 13, Audrey Richard. The president of the National Association of Human Resources (ANDRH) thus introduced the presentation of the study supposed to describe a more precise overview of salary policies for 2023.
The Deloitte survey of 2023 increase budget forecasts of 160 companies from any sector published on March 2 announced budget levels “historical”although below inflation. “It is rather a beautiful harvest,” , comments Franck Chéron, human capital partner at Deloitte.
The median forecast budget increases (excluding promotion and seniority) allocated are more than 4.4% in the energy, industry, consumer goods and health industry sectors, and 2.1 % (excluding promotion and seniority) in the public sector and non-profit companies. “Cumulating the actual 2022 increases and the planned budgets, the median increases would be 7% for non-executives and 6.5% for executives respectively over two years”says Franck Chéron.
To this assessment, the ANDRH adds a few clouds above companies with less than 1,000 employees. To carry out its “Rethinking the organization of work” survey, the association questioned its 5,600 members in February on the changes in their HR policy linked to the economic context; 513 human resources managers, mostly from companies with less than 1,000 employees, responded. Three quarters of them say that the increase in the cost of raw materials and/or energy has not yet had an impact on HR. These companies remain cautious and are for the moment evoking “investment reports” and a question about “end of year bonuses”.
The diversification map
The remaining quarter have already had to modify their HR policy for 2023. Half of these companies affected are planning recruitment freezes, and a third have frozen their salary policy: 11% of all companies that responded to the ANDRH n have not at all increased the budget allocated to salary increases within the framework of the mandatory annual negotiations (NAO); 10% are below 2%, 13% between 2% and 2.9%, 42% are between 3% and 5%, and only 24% are above 5%, while inflation was at 6.3% over one year in February.
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