CEE business leaders plan to raise salaries in 2015

The most likely increase, as indicated by 37 percent of respondents, in the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania and Slovakia (CEE8), will be from 2.0 percent to 4.9 percent, KPMG reports.

This is partly due to the fact that qualified workforce in becoming increasingly difficult to come by, with 41 percent of those polled giving this reason.

As many of 28 percent think wage hikes should be based on higher productivity and aquarter of those polls quoted improved financial performance.

“According to the survey results, CEE8 economies are following a path of healthy GDP growth and rather contained inflation, but as skilled labour and export ability are the key drivers of economic competitiveness, the focus at these enterprises is increasingly being trained upon the employee factor,” said Armine Movsisjana, Partner at KPMG in Latvia. (rg/jb)