Due to financial crisis, international banks are laying off jobs. Polish financial institutions may soon follow the suit.
“The process has not started yet but banks are aware of the fact that a weaker year is approaching and they plan to fire people”, Marcin Zdral, partner at Deloitte said.
Experts warn however, that hasty decisions to lay off the staff may have very bad consequences. In their opinion, the situation on the banking market will improve in several months. Banks again will have problems with finding qualified employees. According to Deloitte experts, it costs 150-200 percent of an average annual wage to employ a new person at a bank. The bank has to pay for recruitment and training. In addition, when it fires people, it loses funds spent to train the former worker. Layoff means compensation costs which, in case of high managers, may amount to 500 percent of annual wage.
Deloitte experts advise to freeze wages. On the other hand, employers should
keep to their earlier promises, including a bonus at the end of the year.