Over a third of small and medium sized enterprises in Belgium are planning on hiring staff in the first quarter of 2024, according to a survey by Human resource and payroll provider SD Worx.
"We’re starting 2024 with positive prospects," said Vassilios Skarlidis, SME advisor at SD Worx, pointing out that the majority of companies (72%) intend to hire as part of expansion plans, rather than to replace existing staff.
Walloon SMEs lead with 39% planning to take on the most staff in the first quarter, just behind eastern Flemish SMEs, at 43%.
For Brussels-based SMEs, the figure remains the same as last year, at 34%.
On average, one in three SMEs (30%) anticipates a workload increase, while 16% foresee a decrease.
Walloon SMEs are the most optimistic with 38% predicting growth, whereas less than 20% of Western Flemish and Flemish Brabant SMEs expect the same. Brussels averages a 30% increase.
Regarding wage costs, Skarlidis suggests a lower automatic wage indexation in January than the previous year.
12% of Belgian SMEs predict staff cuts in the first quarter, with over a quarter looking to replace staff. This is higher than last quarter’s 17%.
In Wallonia, layoff plans stand at 13% this year, down from last year’s 19%.
For Brussels businesses, redundancy plans are set at 8%, nearly half of last year’s 15.4%.
The survey was conducted in December 2023 with 711 SME business owners.
