Chimcomplex, the main producer and supplier of chemical products in the region, announces a significant increase in the salaries of its employees starting from February 2024, with the signing of a new collective labor agreement.

“The record increase of the salary package by 42%, in the next 2 years, is the main news brought by the new collective labor agreement (CCM). Adapted to current fiscal policies, it exceeds industry expectations, bringing the highest salary increases in Romania. The new collective labor agreement was negotiated 6 months earlier than the expiration date of the current one in order to support employees whose incomes were impacted by price increases throughout the economy,” said Ștefan Vuza, Chairman of the Board of Directors, Chimcomplex.

All this in the context where at the European level wage increases assume a general increase of 5.5%, and in Romania the average is 11%.

The new CCM provides several motivational packages as follows: 10% general salary increase and 24% variable salary increase through an adjustment mechanism; salary increase for the year 2025, with 125% of the inflation value for the year 2024 – being the first company in Romania to apply indexation above the inflation rate by 125%; increase in the value of meal tickets starting from January 2024 from 35 to 40 RON/ticket, respectively by 14.3%.

All employees will benefit from a private medical subscription that will cover high quality medical services. This subscription will include a set of more than 300 laboratory analyses, consultations with general practitioners and specialists, including medical imaging services (ultrasounds, MRI, CT, etc.), which can be accessed for free within a limit of 5,000 lei/employee/year.

The budget granted for health services represents 2% of the salary fund. Prevention will be a permanent policy of the company, which will support every employee to lead a healthy life. The company is confident that the change in employee behavior will occur in less than a year and prophylactic access to medical services will become a habit.

At the same time, the budget for flexible benefits (holiday vouchers, annual transport costs, etc.) increases from 2,000 lei/year to 3,250 lei/year, respectively by 62%. The individual motivational package includes 3 to 12 annual salaries offered depending on the performance of indicators and tasks that each employee undertakes with KPIs. The package of premiums and benefits (which provides for 10 categories of premiums and benefits) will increase as a fund by 62% – the largest increase in the economy, of which: 100% increase in the value of the March 8 premium for ladies, 100% increase in the value of the June 1 bonus for the minor children of employees, private pension incentive package – pillar 3 – in individual negotiation, as well as the ESOP package: Chimcomplex has approved and is running a share bonus program estimating that in the coming years employees will receive shares with an average value of 40,000 lei/person.

Since 2021, Chimcomplex has launched the Shareholding Plan for employees – ESOP 2022-2032, a loyalty and motivation tool. All employees received the first 100 free shares in 2023, and in 2024 another package of 120 shares will be granted to employees, with a value increasing by 20%.

In 2025, the package will increase again by 20% compared to the basic package, reaching 140 shares/employee. Shareholdings will increase by 20% in each of the next 3 years.

“I agree and support the Government’s policy in the rapid implementation of 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 the time has come for Romania to change the “low-wage economy” model to that of a performing economy, because now we have all the assets to make this strategic repositioning. It is true that this new salary policy will also bring a lot of 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 effectively manage the new costs. Some of the factories will close, but the effort of repositioning Romania from an economy with a low labor cost to the most performing economy in Eastern Europe is worth all the stress that will follow,” added Ștefan Vuza.