PWC Moldova presents PayWell Moldova - Salary and Benefits Survey 2010

PWC Moldova presents PayWell Moldova - Salary and Benefits Survey 2010

• 13.10.2010

The current challenging economic environment has increased the effectiveness requirements of human resource management.

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.

It seems to be obvious that 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, the forth straight year PricewaterhouseCoopers conducts the PayWell Moldova - Salary and Benefits Survey, which represents an extensive research on the remuneration and staff benefits policies for companies present on the Moldovan market - a tool that comes to offer solutions and interesting approaches in this respect. The Survey can help companies’ management to find effective solutions for optimization of their HR processes thus helping them to achieve desired business success through their own employees.

The survey analyzes and compares salary and benefits strategy systems of the major companies active on the Moldovan market, such as: Moldcell, Coca Cola, Efes Vitanta, Orange, Lafarge Ciment, Red Union Fenosa, Moldtelecom and other and summarizes a total number of 10,274 employees and 399 analyzed job positions.

PayWell Moldova 2010 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 depth and spread of the report, its tenure and the number of organisations involved make PayWell Moldova the number one thought leadership instrument available on remuneration in the Republic of Moldova.

The Survey will give you information on the following:

1. Salary data

The salary data is presented in the following format:

• Mean, median, lower and upper quartiles, 5 and 95 percentiles for the following values:

 Monthly gross base salary;
 Annual guaranteed cash (monthly gross salary x 12 + fixed bonuses);
 Variable bonuses;
 Annual total income (monthly gross salary x 12 + fixed bonuses + variable bonuses).

• Information on the number of job holders and the number of companies that provided data on each position;
• Main benefits offered per position.

2. Compensation and Benefits policies

• Compensation policies section: information on wage policies, employment relations, salary negotiation, salary increase, fix and variable bonuses, holiday policy, retention programs and relocation packages;
• Benefits systems section: information on the benefits offered by staff category, usage policy and costs.

3. Tools

Interactive tool

The survey provides an analysis tool that will enable you to select a specific sample of companies by using multiple criteria:

• company size
• company turnover

The interactive tool will help you benchmark better with your reference market.

Market positioning reporting tool

The survey also provides a tool that will enable you to compare your salaries against sample statistics. The tool calculates the proportion of your salary as compared to sample statistics and generates an output that positions your salary within the range.

PayWell Moldova 2010 supports to implement new and valuable solutions on the compensation and benefits systems.

CONTACT:

Tatiana Stavinschi, Senior Consultant
PricewaterhouseCoopers Moldova
Phone: + (373) 22 23 81 22, E-mail: tatiana.stavinschi@ro.pwc.com

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.