The mining industry is the highest-paying sector in Zimbabwe for senior management employees while the telecoms industry is highest-paying for lower-level employees, according to a salaries survey done in April.
According to the Industrial Psychology Consultants’ All Industries and Consolidated Salary Survey Report released at the end of May, senior managers in the mining industry earn as high as $18 523 per month while the lowest paid employee in the telecoms sector earns $636 per month.
In the highest cap, the banking sector was, on average, the lowest paying at $6 653 and the hospitality industry paid as low as $191 for junior employees.
The report noted that while the economy seemed to be stabilising, organisations were still struggling to contain rising operational costs.
“There will be more retrenchments in most of the sectors in order to contain rising staff costs which are not matched by productivity increases,” the report said.
“There will be more cases of disputed arbitration awards as employers try to contain rising staff costs. Employers are likely to resort to more staff cuts in order to contain costs.”
The survey report advised that balance should be struck between salary increments and sustaining companies.
“Salary adjustments must be linked to productivity. It does not make economic sense to award salaries that are not sustainable as this may lead to reduction in staff or company closures,” according to the report.
“The only sustainable salary model at the present moment is that of awarding your staff competitive salaries and supplementing this with productivity-related payouts that are self-funding.
“Organisations also need to vigorously pursue performance improvement initiatives and ensure that each employee performance is managed, measured and rewarded.”