Valuable personnel are lured with money – Kommersant FM
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Salary of 1 million rubles. in Russia, almost 24.5 thousand people now receive it. And over two years, their number increased by 43%, according to a study by Finexpertiza. The highest salaries are in trade, manufacturing, banking and insurance sectors. Highly specialized specialists can earn over 3 million rubles. Why are there more millionaire employees and their salaries are growing faster than inflation? Aelita Kurmukova found out.
The largest number of millionaire employees work in Moscow—the figure is already approaching 15 thousand people. Their salary, including quarterly bonuses, starts from 1 million rubles. up to 3 million rubles per month. But annual bonuses, as Finexpertiza analysts note, were not taken into account, so the real number of millionaires is much higher. Following the capital in terms of high salaries in large and medium-sized enterprises are St. Petersburg, Moscow, Sverdlovsk regions, Krasnodar Territory and the Republic of Tatarstan.
The staffing shortage has affected all levels of personnel, as recruiting companies interviewed by Kommersant FM note, including management. And the shortage of highly specialized specialists forced employers to index their salaries with a large premium to inflation, including at the expense of foreigners who left, says Stanislav Alekseev, managing partner of Transearch International:
“The staff shortage is still very high. If we take first- and second-level managers from Western companies who left their positions, 30-40% of them moved to other jurisdictions. This is the number of people washed out of the market that will dictate the need to pay more to those who remain. There’s just less choice. Salaries, accordingly, can be one and a half to two times higher. And when a high-level top manager is urgently needed, companies do not hesitate to offer a fee even three times.”
Salaries of highly specialized specialists are growing everywhere and regardless of industry. But some companies remain in the gray zone, so the real picture is not reflected, notes Olga Petrova, partner of the VISAVI Consult agency:
“The first thing companies did to avoid outsourcing their staff was frequent salary increases. This is not an inflation story, but a staff retention issue. In 2024, the story will continue. According to the HR directors with whom I spoke, promotions to the top are included in the budgets precisely from a retention point of view. And this is not 10%.
In order to get specialists off the ground now, you need to add at least 25-30% to your existing income without relocation conditions.
Very often, top managers go into a relocation story. There is a similar shortage of personnel in the regions, and there are enterprises there that require management personnel. The salary increase in case of relocation is at least 50%.”
But even with such salaries, there are problems when it takes a year to select a specialist, Petrova shares. And now they are increasingly looking for local tops, including among relocants. Some of them are returning and may well fill the personnel shortage if the state helps. But the attitude towards those who left is still ambiguous. And often such employees are found in so-called friendly countries, adds Artur Shamilov, head of the board of directors of the recruiting agency Top Contact:
“Often the emphasis is on interaction with specialists from friendly countries. Next year they are even increasing the quota for attracting highly qualified personnel, mainly from there.
The market is recovering, and the Russian economy has overcome the crisis trends of 2022. There is a noticeable increase in demand for top managers. Companies are ready to increase salaries, but last year there was no talk about this.
At the end of 2023, bonuses for the management team will be good. Everyone has their own motivation systems. From 50% of the annual salary to 200%.”
As for ordinary employees, everything is more modest. As Rossiyskaya Gazeta writes with reference to the Association of Managers, only every fifth company is ready to reward employees with a 100 percent salary this year.
Everything is clear with us – Telegram channel “Kommersant FM”.
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