A research of the Bulgarian Chamber of Commerce and Industry shows that at least 40% of the Bulgarian employers are planning a pay rise in 2014. In most companies the salaries will see an increase of 10% on average. However, in 1/3 of the firms, which mainly rely on foreign markets, the wages will be increased between 10% and 20%, the research further shows.
Hiring of new personnel, however, will be an exception, rather than a tendency in Bulgaria in 2014. Data of this study show that half of the companies do not intend to hire new staff and 10% of them are even planning to make job cuts.
As regards the increase of the minimum wages to BGN 340.00 as of 1st January 2014 and its effect thereof – more than half of the companies (56%), participating in that survey, answered that they don’t have employees working at the minimum work salary. For the rest of the representatives of the business who hire personnel at the minimum work salary the increase will lead to: elimination of social benefits with 31% of the employers; decrease of the investment funds with 25%; transferring employees to part-time with 13%; cut-off personnel with 12%. Almost 1/5 of the firms have stated that the increase shall not affect them.
This research over the intentions of the companies to change the wages of their employees in 2014 has been conducted between 10th – 13th December 2013.