According to a report by ECO, companies are cautious in hiring projections, with only 31% admitting the intention to increase teams, a decrease compared to 43% of intentions in 2022, with more than half admitting difficulties in retaining talent, points out Total Compensation 2022, by Mercer.

Wages are expected to rise in 2023 and inflation will be a weighting factor. “About 50% of companies indicate that inflation is one of the factors considered in the context of salary review and decisions on salary increases”, states Marta Dias, rewards leader at Mercer Portugal.

Companies estimate that next year remunerations should rise by an average of 2.8%, which reflects “already an increase of around 0.5% compared to the forecast in 2021 to 2022 (2.3%)”.