Back
Register for SMS Alerts
or enter your details manually below...
First Name:
Last Name:
Email:
Password:
Hometown:
Birthday:
Sorry, we couldn't find that email.
Existing users
Email
Password
Sorry, we couldn't find those details.
Enter Email
Sorry, we couldn't find that email.

Salaries in finance and IT jobs in Malta have increased by 5% over 12 months

Misco salaries and benefits survey says employers’ key challenge is staff development, motivation and retention

matthew_vella
Matthew Vella
6 October 2017, 9:13am
Finance jobs in Malta have seen average salaries rise by 4.9%, according to polling company Misco Consulting’s annual survey on salaries and benefits.

According to the survey, there was an altogether 4.1% annual average increase in total remuneration packages.

Other increases included 3.9% for salaries in marketing, a significant 5% increase in IT jobs, 2.5% increase in customer service and 3.9% increase in maintenance and engineering jobs.

“Employers are increasing salaries not through increases in basic pay, which is guaranteed, but introducing a variable element tied to the performance of the individual. This provides employers with flexibility,” MISCO Consulting director Ritienne Xerri said.

Xerri said the study shows greater reliance on performance-related pay in the remuneration of employees.

MISCO also carried out its fourth annual survey on HR developments, in which respondents were asked what they consider to be the strategic objectives of the HR function in their organisation. Three elements – staff development, staff motivation and staff retention – each received around 75% of mentions.

“71% of respondents stated that they had more vacancies, while only 5% said they had no vacancies and another 5% said they had less vacancies. The balance of 19% stated that they had about the same number of vacancies as in the previous twelve months,” director Joanne Bondin said.

“On the other hand, the results seem to indicate a higher element of staff turnover as 80% of respondents stated that 75% or more of the vacancies were to replace staff leaving the company.”

matthew_vella
Matthew Vella is executive editor at MaltaToday.
DealToday
Latest Business News
Business Comment 12:01
The European Central Bank is expecting to outline plans on its quantitative easing program, with the release of the third quarter GDP figure...
Business News 21-10
From Rome to Malta, via Panama and Dubai: the Vatican bank claims its financial advisors and their Maltese firms used its millions to make a...
Business News 20-10
Banif Bank has rebranded into BNF Bank as it rolled out its new brand identity and divulged plans to expand into asset management and invest...
Business Comment 20-10
Correcting markets, Goldman’s contingency plans & Spain toughening up on Catalonia
Law Report 20-10
A plea claiming that an action is time barred, may be cancelled if one pleads that the claim itself is overstated