MILAN – There is a problem of meritocracy in the pay slips of Italian workers and this lowers – significantly – the overall opinion of employees on their remuneration package.
Caught between inflation and global uncertainties, despite the presence of increases that have not been seen for some time (we are talking about an average increase in salaries of 1.8% in the last year and 7.5% overall in the last eight, but with prices that have eroded purchasing power), the workers portrayed in the usual Salary Satisfaction report of the JobPricing Observatory, created in collaboration with InfoJobs, still fail their remuneration packages. A slight improvement (of 0.1 points) still leaves the rating soundly insufficient: the overall rating for the pay slips is in fact a round 4.
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The judgment changes depending on how the package is built. In fact, the Observatory explains that “a marked and persistent dissatisfaction prevails, particularly accentuated among those who receive exclusively a fixed salary. This phenomenon highlights the urgent need for companies to adopt a broader approach to remuneration, which integrates benefits, variable incentives and other elements typical of Total Reward models”.
Among the various items investigated, the fact stands out that the meritocracy index records the lowest value ever (3.4). A serious insufficiency that “denotes widespread dissatisfaction with internal recognition and promotion criteria. This situation also compromises employees’ understanding and acceptance of remuneration policies, worsening the perception of injustice.” Among other serious shortcomings, employees highlight the issue of “trust and understanding” and the link between “performance and remuneration” or being paid for one’s real contribution to the success of the company.
Nicole Boccardini, senior consultant at JobPricing, also adds gender to the evaluation elements. “It is clear that gender differences continue to influence salary satisfaction,” she comments. In fact, the report shows that on average women are more dissatisfied than men in all dimensions. If overall satisfaction is taken, the rating rises to 4.2 for men and drops to 3.6 for women. Meritocracy even plummets to 2.9. “This highlights the importance of implementing balanced and transparent remuneration policies to promote gender equity in the workplace,” says Boccardini.
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Therefore, if the presence of issues that go beyond “money” is increasingly central in the relationship between worker and company, workers certainly declare little confidence in the fact that companies will intervene to compensate for the losses in purchasing power caused by ‘inflation. As many as 56% of those interviewed are certain that the company has not intervened and will not intervene to give some form of relief of this kind. Perhaps this is also why the number of people who look around is high. More than 80% of the people responding would be willing to change jobs and more than 1 in 3 people will actively look for new opportunities.
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Let’s be clear, the report clarifies that fixed remuneration is, today as in previous years, a decisive factor for choosing a job (if only because it is the only element known at the beginning of a new work experience). “However, the next five elements in the ranking – although incidentally they have economic implications – concern the so-called “intangible” levers (positive relationships, career possibilities, work content and training), i.e. those elements of reward that are not measurable and perceivable at a monetary level or services”.
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– 2024-04-22 09:47:44
