Tackling Salary Worries in the Netherlands: A Closer Look
In a recent study conducted by HR company Visma|Raet, a sponsor of the Jumbo Visma cycling team, concerning concerns about salaries in the Netherlands, it was revealed that two out of five Dutch citizens are worried about whether their salary will be sufficient to sustain their lives for the upcoming year.
The Financial Worries of Two-Fifths of the Dutch
Nearly 38% of Dutch citizens, a significant portion, express serious concerns about whether their salary will be enough to sustain them towards the end of the year. The inflation caused by the corona crisis and the war in Ukraine has put a strain on the budgets of ordinary Dutch individuals. Furthermore, 34% of respondents anticipate that their annual salary increase will not be enough to maintain their standard of living in the following year.
The Impact on Workplace Dynamics
These financial worries have resulted in discomfort within the workplace. The concerns about rising inflation add extra pressure to salary negotiations, with individuals increasingly feeling compelled to request a raise. If the negotiations do not yield favorable outcomes, 20% of individuals feel compelled to seek alternative employment.
Sacrificing Secondary Benefits for a Higher Salary
In addition, 35% of respondents are willing to forego secondary employment benefits in exchange for a higher salary. This high percentage is concerning, as efforts have been made to improve these benefits. Despite the efforts of unions to enhance these conditions, a better salary seems to take precedence for many.
“Employers Can Make a Difference”
Joke van der Velpen, Manager of Legal and Regulatory Affairs at Visma|Raet, shared her insights on the findings:
“The abovementioned figures demonstrate the significant strain that inflation places on many Dutch citizens. They underscore the urgency to engage in conversations about financial worries. While it is not the primary responsibility of employers to solve this problem, it is important for them to identify areas where they can lend a helping hand. These are challenging times, but I encourage employers to reflect on how they can make a difference in this regard. Particularly because financial concerns among employees can lead to prolonged leave.”
The study was conducted by independent research firm PanelWizard on behalf of HR service provider Visma|Raet. Over 1,200 Dutch citizens were surveyed regarding their current financial concerns caused by inflation.