A “Survey of Special Measures” in Ethiopia was recently concluded a few weeks ago to gain insights into how employers are managing their compensation programs during the current period of extreme economic volatility.
We are happy to announce that the survey results are now available. Fifty-seven employers shared their practices, providing valuable information about market trends, including the level of pay increases in the past six months, and their forecast for increases in 2018.
49% of the respondents reported information to grant increases in a range from 11% to 15% of base pay from October 2017 to April 2018, and increases of less than 5% are expected from May to October 2018.
Introduction of regular, multiple pay increases and introduction of temporary allowances during the year were the most common steps taken by employers in 2017. This year, that trend is expected to continue.
In addition, thirty-nine percent of the respondents reported to have a formal policy in place to address the impact of market volatility in Ethiopia, while the remaining sixty-one percent reported not having any formal policies at all.
Birches Group conducts a comprehensive compensation and benefits survey in Ethiopia, updated three times per year. Contact us to learn how you can participate in our compensation survey and gain access to updated market information when you need it. Ask about our special offer.