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International Internet Magazine. Baltic States news & analytics Monday, 21.09.2020, 06:33

1 in 2 Lithuanian firms set to raise salaries in 2018

BC, Vilnius, 03.04.2018.Print version
Half of Lithuania's companies intend to raise salaries for their employees this year, with majority of top executive and financial officers saying that salaries will grow sharply for at least a few more years, shows the latest survey carried out by the central Bank of Lithuania, cites LETA/BNS.

"The number of companies intending to raise wages is the biggest over the past few years. Amid lack of employees, businesses are forced to fight more and improve their working conditions. With the economy growing, a large share of companies have this potential, as businesses aiming to keep their competitive abilities should focus more on improvement of productivity," Andrius Skarnulis, head of the Macroprudential Policy Unit at the Bank of Lithuania, said in a press release.

Some 49.9% of companies intend to increase pay for staff within the coming six months (37.7% last fall). Over the past six months, nearly 60% raised salaries, up by 6%age points since last fall.

According to the latest forecasts by the central bank, the average monthly salary should grow by 6.7% this year and by further 6% in 2019.

The survey of Lithuania's 509 non-financial companies was carried out for the Bank of Lithuania by Baltijos Tyrimai (Baltic Surveys) pollster.

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