Industrial Psychology Consultants conducted a cost of living survey for all employee level categories. The data is provided to the reader in the form of averages, except for the total cost of employment, with numbers presented as the median. Using averages is possible for both continuous and discontinuous sets of numerical data. Unless otherwise specified, all expenditures are shown as regular monthly outlays denominated in Zimbabwe dollars (ZWL$).
The cost of living is the amount of money needed to sustain a certain standard of living by affording basic expenses such as housing, food, and healthcare. The cost of living is often used to compare how expensive it is to live in one city compared to the other. In everyday situations, salaries and wages are related to the general cost of living.
This report can be used to start discussions on solutions to the disparities between the cost of living and employee earnings.
There is increased demand for companies to raise wages and salaries due to the rising cost of living. Undoubtedly, the rising cost of living is impacting employees across the board. No employer is safe from this. There has been a lot of pay bargaining among national employment councils. A few of them have already factored in the USD component.
The key question is, can employers afford to match inflation as they adjust salaries. The answer will depend on each organization's circumstances, as affordability and sustainability will be key.
The use of this report is permissible on the condition that you reference this source and link to this report.
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