MKB Romexterra Bank increased its salaries by seven percent since the beginning of this year. In the banking system, HR specialists expect a drop in salary growth rates, which amounted to 20 percent in the period of territorial expansion of lenders. “The trend is to reduce salary growth rates. These will not increase as sharply, by 16-20 percent, as the average growth pace in previous years. Now, the growth will be 7-8 percent, at best,” said Virginia Otel, HR Manager for GarantiBank, a company that froze salaries this year at their 2008 level.
The Lafarge Romania construction material producer revised salaries as early as January. “The revision was made in accordance with terms negotiated in the collective work contracts. The negotiation took place in November 2008. The growth had two components: covering inflation, applicable to all employees, and a merit-based rise, intended to distinguish employees based on individual performance,” said Gabriel Matauan, HR&Public Affairs Director for Lafarge Romania.
The Blue Air low-cost airline raised salaries by one percent in February 2009. “As such, the average salary in the company increased to RON 3,849 in February 2009 from an RON 3,498 gross,” said Teodora Draghici, the airline’s HR Manager.
The Lafarge Romania official further said that one of the roles of the HR department is to maintain a balance in the salary level, a role which is gaining importance in the context of the crisis. “The economy operates cyclically; one of the fundamental problems for human resource specialists is to flatten out this curve. In 2007, when salaries rose 30-40 percent, we avoided effecting such increases. Today, when many companies are cutting salaries, we are not,” said Matauan.
