What to expect from salary increases in 2024/2025.
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GUEST - Dr Mark Bussin, Master Reward Specialist and Executive Committee Member of the South African Reward Association (SARA)
South Africans can look forward to an average salary increase of 6% in 2024/2025 says Dr Mark Bussin, Master Reward Specialist and Executive Committee Member of the South African Reward Association (SARA).
“There is a glimmer of hope regarding GDP growth and, if we continue on this trajectory, it could mean the brighter future we’ve all been praying for,” he says.
Salary increases may not be the only consideration in a robust total rewards programme, but they are definitely a cornerstone. For organisations, they’re also a key factor in business sustainability.
Likewise, they are essential to employees who, due to inflation, become relatively poorer over the course of any given year. A timely salary increase helps them stay ahead of the cost of living and pursue a lifestyle they’re content with.
South Africans can look forward to an average salary increase of 6% in 2024/2025 says Dr Mark Bussin, Master Reward Specialist and Executive Committee Member of the South African Reward Association (SARA).
“There is a glimmer of hope regarding GDP growth and, if we continue on this trajectory, it could mean the brighter future we’ve all been praying for,” he says.
Salary increases may not be the only consideration in a robust total rewards programme, but they are definitely a cornerstone. For organisations, they’re also a key factor in business sustainability.
Likewise, they are essential to employees who, due to inflation, become relatively poorer over the course of any given year. A timely salary increase helps them stay ahead of the cost of living and pursue a lifestyle they’re content with.