Survey Shows Almost Half of Luxembourg Employees Expect Promotion, Salary Increase in 2024

A recent survey conducted by jobs.lu has revealed that four in ten employees in Luxembourg expect to receive a promotion or salary increase in 2024.

To what extent are the recruitment difficulties facing employers beneficial to employees? How do they perceive the situation? These questions formed the crux of a recent survey on the topic of "Professional satisfaction and career expectations in 2024", to which 1,150 Luxembourg employees responded.

The survey found that Luxembourg employees are relatively optimistic for the months to come, despite an uncertain economic climate and questions from businesses about Luxembourg's competitiveness. In fact, four in ten employees (41.57%) said they expected to benefit from a salary increase or promotion over the course of this year. Three in ten (31.70%) expected no improvement and 26.72% of respondents were unsure. Beyond this, almost six in ten employees stated that their career expectations were aligned with the 2024 job market.

"These results reveal employees' confidence for the future. Many are aware of the recruitment difficulties facing employers and their concerns regarding retaining employees in order to be able to meet demand. Many workers understand that they are in a good position to negotiate an improvement in their situation," assured Arthur Meulman, CEO of jobs.lu. "Respondents' perception of the evolution of job security confirms this situation. 30.35% of respondents consider their degree of job security to be improving, 55.68% of respondents observe no change and only 12.52% of respondents expect this to deteriorate in the coming months."

However, it is not all plain sailing. Talent shortages often lead to understaffed workplaces. Through their survey, jobs.lu sought to question employees about stress and exhaustion at work by asking them if they were concerned about these issues. More than half of respondents (50.58%) said they were concerned about the risks of stress and professional burnout. 40.37% said they were not worried about these issues, whilst 9.06% said they had no opinion on the matter.

"The results of the survey reveal a contrasting reality on the ground. Though the current job market remains a source of opportunities for employees, we can see that the pressure exerted on those in work remains significant, while everyone aspires to attain a better work-life balance," explained Arthur Meulman. "Although these have been cause for concern for several years now, issues linked to stress and professional burnout tend to be exacerbated in a market lacking in labour. These issues are expected to come back to the forefront in the coming months."