companies would lower their salary in 2021

Companies in the industrial and manufacturing sectors concluded that as a result of the onslaught of the pandemic the salary of its operators and employees can be reduced by up to 4%.

A study of the Mercer consultancy, quoted by Portfolio, points out that, Although only 22% of companies surveyed consider a workforce reduction, it is highly unlikely that significant salary increases will occur in 2021 (not even in managerial positions).

This is due to the fact that not a few companies have had to resort to financial aid in order not to stop working, which means that a period of recovery is required.

Salaries in Colombia in 2021

Sebastián Ponce de León, a Mercer consultant, told the aforementioned media that, despite the expected decline in salary increases, companies are looking for new profiles, mainly related to digital transformation. (See also: Minimum Wage in Colombia: Businessmen Shed Light on Increase for 2021)

On the other hand, the hunger of companies for professionals who can fulfill the position of supervisor is by no means small. In fact, in Medellín it is estimated that the salary for these positions has increased by 11% on average.

However, as an antidote to pessimism, the companies themselves acknowledged that the wage cut is a temporary decision to supply their coffers with oxygen.

“While 79 percent of companies had to stop hiring by 2020 and 9 percent had to opt for some form of pay cut for their staff, 100 percent said these cuts and the hiring freeze are not permanent,” said Ponce de León.

Minimum wages in Colombia in 2021

Despite the fact that this study does not take the minimum wage into account, the discussion in Colombia will start in the coming days. The workers’ centers risk it asking for a raise of up to 15%, while the businessmen are reluctant to give a raise higher than inflation caused this year, that would be between 2 and 3%.

In the event that a long-awaited 15% increase is reached, the minimum wage in Colombia would rise 131,670 pesos, that is, According to the accused’s estimates, published by the newspaper La República, the total amount would be 1,009,472 pesos.

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