Employers in South Africa expect average wage increases of 5.4% to be awarded in the next rolling 12-month period – below the inflation – leading companies to try and find new ways to keep staff happy in the face of record labour turnover.
“The historical average CPI for 2021 of 4.5% presented a more positive view in terms of the differential, but we need to be guided by the current information, which shows a worsening of the gap between increases and CPI,” the report’s authors said. The effects of inflation on worker attitudes can already be witnessed as unions, demanding increases of 7%, 10% and even up to 15%, are prepared to go on strike against employers offering 6%, she said.
According to the Old Mutual survey, 36.4% of the labour turnover resulted from resignations over the past 12 months.
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