PRICEWATERHOUSECOOPERS: Paywell 2009

PRICEWATERHOUSECOOPERS: Paywell 2009

• 19.11.2009

PayWell 2009: Does the economic crisis affect the remuneration process? PwC Moldova in collaboration with AmCham organised on 16 November 2009 a workshop “The reaction of the labour market within the frame of the downturn” with representatives of more than 30 companies. The "human factor" gains a major importance in the development of any company. However, taking into account the cost-cutting strategies adopted by businesses within the frame of the global economic downturn, the current approach to salary and remuneration-related policy in the market is varied and even contradictory. Thus, we strongly believe that today more than ever, questions previously addressed by the Companies’ management become more actual and strategic, namely:  Which are the forecasts of changes in the number of employees - maintenance vs. reducing of staff?  Which are the competitors’ salary forecasts in the current economic situation?  To offer performance bonuses and certain benefits to employees or not?  How to motivate and maintain "key people"?  Will the companies’ reputation be affected by the undertaken measures in HR area? It seems to be obvious the salary and remuneration review should be performed based on an adequate knowledge of the market|s salary system at a specific point in time. Correspondingly, PricewaterhouseCoopers for the third consecutive year has recently launched the 2009 edition of the PayWell Moldova Salary and Benefits Survey - a tool that comes to offer solutions and interesting approaches in this respect. The survey analyzes and compares salary and benefits strategy systems of the major companies active on the Moldovan market, such as Orange, Moldcell, Endava, Efes Vitanta, Coca Cola, Sudzucker, Nestle, GlaxoSmithKline, Mary Kay, Trigor and summarizes a total number of 2,000 employees and 170 analyzed positions. PayWell Moldova 2009 is recognized as a useful tool in attracting and motivating employees by company’s management and allows HR professionals to develop competitive policies for their employees, considering the existing market challenges. The Survey will give you information on following: 1. Salary data:  Statistics on monthly base salary (mean median, lower and upper quartiles, 5 and 95 percentiles).  Statistics on annual fixed income (includes fixed bonuses) and annual total income (includes all bonuses).  Information on the number of job holders and companies that provided the information on each position.  Information related to main benefits offered calculated as a percentage of job holders that receive the benefit. 2. Compensation and Benefits policies:  compensation policies section, providing information on wage policies, employment relations, salary negotiation, salary increase, fix and variable compensation, holiday policy, retention programs and relocation packages.  benefits systems section, providing information on the benefits offered by staff category, usage policy and costs. PayWell Moldova 2009 supports to implement new and valuable solutions on the compensation and benefits systems. Note: PricewaterhouseCoopers (www.pwc.com/md) provides financial audit, tax and business advisory, specialized in different sectors to create a climate of trust and generate more value for its clients and their stakeholders. The company’s about 163,000 employees in 151 countries connect their thinking and experience to open new perspectives and provide practical solutions. PricewaterhouseCoopers refers to the member firms of PricewaterhouseCoopers International Limited, each of them is an independent legal entity.

PricewaterhouseCoopers (PwC) Moldova

PwC helps organisations and individuals create the value they’re looking for. We’re a network of firms in 157 countries with more than 208,000 people who are committed to delivering quality in assurance, tax and advisory services. This network structure provides PwC member firms with the flexibility to operate simultaneously as local businesses, but also on a global scale, creating a platform through which member firms share knowledge, skills and resources and delivery services of consistently high quality to international and local clients. PwC started operations in Moldova in 1996. It has continuously expanded the scope of its services and currently offers a full range of professional services to both international and Moldovan enterprises. Overseen by 16 partners and employing over 600 specialists and support staff, PwC operates in Romania and Moldova from a network of four offices in Bucharest, Timisoara, Cluj-Napoca, Constanta and Chisinau.