Results of the Manpower Bulgaria Survey “Salaries and Additional benefits – Trend Research” (SATR H1/2023)

The fifth consecutive study of Manpower – SATR H1 2023, which provides a summary analysis of trends and expectations for compensation levels, is now available. For the purpose of the study, we carried out a survey with 209 companies across various sectors in the country to understand their attitudes towards changes in remunerations and benefits and how external factors are influencing these processes.

The highest response rates we received from companies in the Manufacturing, Information Technology and Retail & FMCG sectors.

With the help of our survey, we identified one of the main objectives of companies, namely to retain their current staff, as well as to create nurturing conditions for attracting the right talents. Thus, companies that did not make any changes in their remuneration in 2022 are planning to make up for the difference with promotions in the first half of 2023 for their employees.

Data derived from surveying companies in the Manufacturing sector show that a large majority of businessess are planning increases of 6% to 11%. Again, the main goal of businesses is to retain their current employees through financial incentive and present themselves as attractive employers for potential talent in the field. The situation is similar for companies in the Information Technology and Retail & FMCG sectors, which plan to increase their remuneration by 6% to 10%, albeit on a smaller scale. One factor influencing the changes is the high inflation rate, which remains relevant in 2023.

Due to the great interest in the regular SATR survey, we dedicated the first episode of HR Navigator for this year to the latest findings. On 21.01.23, Maria Dineva, Business Intelligence Team Lead at Manpower Bulgaria, presented in detail the data for the first half of 2023. In the company of Milena Karailieva, Director of “Human Resources” – Kaufland Bulgaria, and Assoc. Dr. Ralitsa Simeonova-Ganeva, lecturer at Sofia University and head of the master’s program in Applied Econometrics and Economic Modeling, we commented on what changes in remuneration, bonus systems and additional benefits employers plan for the next six months.

You can watch a recording of the event in our YouTube channel

You can find out more about the changes that have taken place in the full report here