Russian companies are progressively cutting or removing worker bonus offers and reward payments as they seek to minimize costs, a brand-new report has revealed.The report, compiled by the HeadHunter recruiting service and the pension fund NPF Evolyutsiya, was obtained by the pro-Kremlin newspaper Izvestia, which reported the findings on Friday.Almost one-third of employees who formerly received bonuses reported either a decrease or overall loss of benefits over the in 2015, a symptom of the slowing Russian economy.The study discovered that 20% of respondents kept in mind a reduction in bonus offer amounts, while 9% said payments had actually stopped entirely.For one-quarter of those surveyed, benefits accounted for 10 to 30% of their total take-home pay.Fifteen percent of workers reported benefits equivalent to 10% of their pay, with a similar variety of workers reporting that perks represented 30 to 50% of their income.Managers, IT experts, real estate agents and staff members in sales, finance and building were most likely to experience reduced or canceled bonuses, the data showed.The regions where staff members most frequently reported a loss of bonus offers were Sverdlovsk (42%), Novosibirsk (36%), Samara (32%), Rostov (31%) and the republic of Tatarstan (32%).
Bonus offers and reward payments are generally the very first costs companies cut when looking for to save cash without carrying out official wage decreases or formal layoffs, Vladimir Chernov, an expert at the online broker Freedom Finance Global, informed Izvestia.Companies are becoming less versatile, particularly with high rates of interest and lowered access to loans.
Services have actually reached a stage where monetary rewards cant be the sole motivators, stated Dmitry Dudarev, HR director at communications company CROS, referring to the Central Banks crucial rate of 20%.
Alexander Vertekov, deputy general director of headhunting firm Rabota.ru, included that companies now look for to optimize procedures and increase productivity.
Lowering workers expenses assists business reallocate their budgets to the development and application of new technologies.Maria Koleda, a representative for the independent trade union Novy Trud, told Izvestia thatreduced rewards make workers less inspired and more likely to leave their company.Companies are progressively turning to non-monetary rewards to maintain crucial personnel, consisting of versatile schedules, remote work alternatives, chances to sign up with appealing jobs and employer-sponsored training, Chernov said.SuperJob, another task recruitment service, reported that employers have started giving vacation presents more regularly, supplying interest-free loans and setting up complimentary assessments with psychologists, legal advisors and financial experts to make up for the decrease in bonuses.Companies are also broadening advantages packages along with non-material acknowledgments like certificates, internal news discusses and access to method sessions, according to Chernov.