Wage increases have reached, in a context of high inflation, “unprecedented levels in 2023” in France, in particular for workers and employees (+ 4.6%) due to successive increases in the Smic, according to an annual study by the Deloitte firm published on Thursday August 31.
In 2023, the median increases in the base salary “were 4.6% (+1.5 points) for OETAM (workers, employees, technicians, supervisors, editor’s note) and 4.0% for executives (+2.1 points)”, levels approaching the inflation observed in recent months, writes Deloitte.
“This inflationary context and recruitment tensions have prompted companies to favor all the systems in their possession in order to revise the remuneration of their employees upwards in 2022, with a view to the dynamics of purchasing power and ( re) conquest and retention of talent”, continues the Deloitte firm in its study.
Increases almost invisible in the face of inflation
At the Medef summer universities earlier this week, business leaders complained of not being able to recruit. It should be noted that more than half of French companies (52%) claimed to encounter recruitment difficulties in March 2023, according to the Banque de France’s monthly economic survey. In total, there are 350,000 unfilled jobs in France. In such a context and faced with the difficulty of recruiting profiles corresponding to their research, companies are ready to revise their remuneration upwards in the hope of attracting new forces. This is the case in certain sectors, such as cybersecurity.
Still, these wage increases are not felt on the purchasing power of the French with the levels of inflation observed in recent months. This reached +4.8% in August and food prices continue to soar, much faster than general inflation. In July, they increased by 12.7% over one year. This week, Bruno Le Maire brought together the various actors to take stock of the situation. Consequence: the increase in wages is therefore much lower for the purchasing power of the assets.
Inflation in France
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The issue of salary increases should be back on the table in the fall. The inter-union has made it its main fight, after having displayed a common front on the subject of pension reform. This will also be the first demand during the next day of mobilization, scheduled for October 13.
In addition, more and more companies are emphasizing the “value sharing” bonus (53% compared to 29% in 2022), with amounts significantly increased compared to 2022, from 300 euros, without distinction of socio-professional categories, at 600 euros for OETAMs and 816 euros for executives. The objective is to boost purchasing power. Next year, “we can expect less use of the value-sharing bonus”, pointed out to the EchoesFranck Cheron, human capital partner at Deloitte and author of the study.
Equal pay for women and men is improving
And for 2024? The increase forecasts have been revised slightly downwards, to 4.0% for OETAMs and 3.5% for managers. After three years without significant progress, equal pay for women and men will improve in 2023 with an average gap of 2.6% compared to 3.7% in 2022. between the Ile-de-France region and the province (4.7% compared to 4.9% in 2022).
Finally, Deloitte notes a stabilization in the number of teleworking days “around 2 days (per week) for all socio-professional categories combined, with now compensation paid by 50%” of companies. This study is based on a panel of 300 companies and more than a million individual compensation data within the main sectors of activity.