Company benefit packages to slim down

 “The decision to lay off people will be a last resort for companies. Meanwhile, firms will reduce the price ceiling of calls made by employees on their work phones or of fuel for company cars. Also, there will be less than three annual parties for employees,” said Csaba Gergely, President of the HR Club professional association.

Gergely believes that companies are currently carrying excess weight, and that it is time to slim down.

HR specialists consider that companies will mainly cut the benefits offered to managers, such as the budget for office decoration or that for driving a company car.

“If overtime was compensated monetarily before, companies will now offer employees free time in exchange for overtime,” said Stelian Marian, Managing Director of the Human Capital Solutions consultancy company.

Companies will opt for policies to retain valuable managers, according to Silviana Boian, Research Manager at the Alexander Hughes International executive search company. However, this does not mean that salaries will continue to rise at the same pace, “which is a good thing for the job market. It was time for the situation to return to normal,” Boian added.

The industries which will most feel the effects of these changes include the financial sector, construction, real estate, auto, and the premium and luxury markets.