Chimcomplex, the main producer and supplier of vital chemical substances in the region, announces a significant salary increase for its employees starting from February 2024, with the signing of a new collective labor agreement.
“The record increase of the salary package by 42% over the next 2 years is the main news brought by the new CLA. Adapted to the new fiscal policies in Romania, it surpasses industry expectations, bringing the highest salary increases in the entire country. The new collective labor agreement was negotiated 6 months earlier than the expiration date of the current one to support employees whose incomes have been impacted by the price increases throughout the economy,” said Ștefan Vuza, Chairman of the Chimcomplex Board of Directors.
All this at a time when, at the European level, salary increases imply a general increase of 5.5%, while in Romania, the average is 11%.
The new CLA includes several motivational packages as follows:
The budget allocated for health services represents 2% of the salary fund. Prevention will be a permanent policy of the company, which will support each employee to lead a healthy life.
The company trusts that the change in employees’ behavior will occur in less than a year, and the prophylactic use of medical services will become a habit.
Chimcomplex launched the Share Ownership Plan for Employees – ESOP 2022-2032 as early as 2021, an instrument of loyalty and motivation. All employees received the first 100 free shares in 2023, and in 2024, another package of 120 shares will be granted to employees, with an increasing value by 20%. In 2025, the package will increase again by 20% compared to the basic package, reaching 140 shares/employee. Share packages will increase by 20% each year for the next 3 years.
“I agree with and support the Government’s policy in rapidly implementing the salary increase policy in Romania, and the spectacular increases offered by us at Chimcomplex will send a strong signal to the labor market! Why? Because it is time for Romania to change the ‘low-wage economy’ model to that of a high-performance economy, as we now have all the advantages to make this strategic repositioning! It is true that this new salary policy will bring much stress because, in parallel, labor productivity must be increased, but this task belongs to entrepreneurs who must make investments and managers who must streamline processes and efficiently manage new costs. Some factories will close but the effort to reposition Romania from an economy with low labor costs to the most efficient economy in Eastern Europe is worth all the stress that will follow!” added Ștefan Vuza, Chairman of the Chimcomplex Board of Directors.