Free Newsletters - Space - Defense - Environment - Energy - Solar - Nuclear
..
. Earth Science News .




POLITICAL ECONOMY
S. American growth set to cause wage hikes
by Staff Writers
Buenos Aires (UPI) Dec 10, 2012


disclaimer: image is for illustration purposes only

A continuing boom in commodity prices and associated economic growth is set to push wages in emerging markets, with some rises likely to be dramatic, in contrast to pay cuts or pay freeze in the industrial world, a study indicated.

Findings by global management consultant Hay Group focused on the high-growth markets worldwide but also revealed that some pay hikes will happen despite slow growth, as in Venezuela.

The oil-rich Latin American country has been in recession for more than two years but has been able to keep most economic activity going with state funding and subsidies.

With pay rates barely outstripping or in some cases falling behind inflation, organizations need to pay more attention to variable pay and non-financial recognition programs and career development opportunities designed to retain key talent, the study said.

Salaries in developed Western economies will experience the smallest increases in 2013, as gross domestic product growth remains broadly flat.

In contrast, Latin America is experiencing an intra-regional brain drain, with skilled labor moving from slow-growth and poorer countries to richer neighbors. Argentina, Brazil and Chile top the list of countries facing migration from neighboring countries, analysts said.

Latin American firms are expected to be the big spenders of 2013, with average pay raises of 9 percent expected across the region, the study said.

Venezuela will enjoy the highest pay increases -- 29 percent -- and Argentine organizations will also implement considerable wage hikes of up to 24.5 percent.

Developed economies can expect more cautious increases -- 3 percent in the United States, said the study.

With annual consumer price index growth factored in -- 2 percent in the United States -- employees are set to see a net gain of 1 percent.

"Ongoing economic uncertainty in North America and Europe has caused organizations in these regions to take a more cautious approach to salary increases than their high-growth-market counterparts," said Jeff Blair, Hay Group's U.S. productized services leader.

"Global organizations trying to attract top talent across both markets will have to pay careful attention to reward program design and focus more than ever on creating positive cultures with strong values to attract, engage and retain high-performing employees in each region," Blair said.

Hay Group based its research on the salary expectations of more than 20,000 reward specialists in 69 countries worldwide, representing 14 million employees.

The data were drawn from Hay Group PayNet, which contains data for more than 14 million job holders in 20,000 organizations across more than 100 countries.

GDP and consumer price index figures were sourced from the Economist Intelligence Unit in November 2012, the company said.

Hay Group, which has headquarters in Philadelphia, has more than 2600 employees working in 85 offices in 49 countries.

.


Related Links
The Economy






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





POLITICAL ECONOMY
Japan economic data sparks recession fears
Tokyo (AFP) Dec 10, 2012
Japan confirmed Monday the world's third-largest economy shrank in the three months to September, stoking fears the country was slipping into a recession and fuelling speculation about fresh easing measures. Financial turmoil in Europe, an export-denting strong yen and a diplomatic row with major trade partner China have hurt Japan's economy, dousing hopes it had cemented a recovery after la ... read more


POLITICAL ECONOMY
Thirteen killed in S.Africa bridge collapse

Fire, flood or giant calabash... pick your apocalypse

N.Z. probe finds numerous flaws in killer quake building

UN seeks $65 mn aid as Philippines typhoon toll tops 600

POLITICAL ECONOMY
Malaysia orders Australian miner to ship out waste

$99 Google laptops for schools sold out

Microsoft to sell Surface at retail stores

Google sells off more Motorola assets

POLITICAL ECONOMY
Mercury in coastal fog linked to upwelling of deep ocean water

French move boosts shark sanctuaries

Big nations block curbs on tuna overfishing

Probiotics help fish grow up faster and healthier

POLITICAL ECONOMY
Clearest evidence yet of polar ice losses

Adventurer to recreate Shackleton's Antarctic exploits

Adventurer to recreate Shackleton's Antarctic exploits

Ice Sheet Loss At Both Poles Increasing, Study Finds

POLITICAL ECONOMY
Typhoon reduces Philippine farmers to beggars

Japan firm recalls China tea on pesticide fears

EU ag interests disagree on supply chain

Environmental hangover from Indonesia's palm oil thirst

POLITICAL ECONOMY
Scientists pinpoint great-earthquake hot spots

At least 13 dead after flood in Congo capital

Philippines braces for return of killer typhoon

Tsunami hits Japan after 7.3-magnitude quake

POLITICAL ECONOMY
Mali crisis deepens as PM quits under pressure from ex-junta

US general in Nigeria after warning over African Islamists

Mali PM resigns after being arrested by troops

South Sudan soldiers kill 14 in volatile state: officials

POLITICAL ECONOMY
Africa's Homo sapiens were the first techies

Skeletons in cave reveal Mediterranean secrets

World's tallest woman dies in China: authorities

Native Americans and Northern Europeans more closely related than previously thought




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement