Salaries in Ghana are projected to increase by 15.5% across all industries in 2025, according to Mercer’s Total Remuneration Survey (TRS).
Additionally, 21% of organizations plan to grow their workforce, signalling heightened demand for talent.
Industry breakdown
• Financial services: Expected salary increase of 24.3%, driven by demand for specialized skills, digital transformation, and competition.
• Consumer goods and manufacturing: Projected increases of 13.2% and 13.1%, respectively.
• Energy and life sciences: Modest increases of 4%, reflecting stability in these sectors.
Challenges
• Voluntary turnover climbed to 5.1% in 2024, up from 2.8% in 2023, with 28% of surveyed companies reporting hiring and retention difficulties.
• Many organizations are revising compensation strategies, offering uniform salary increases across career levels to attract and retain talent.
What they’re saying
• Spiros Fatouros, Marsh McLennan Africa CEO: “Increasing base salaries in 2025 reflects a resilient and optimistic economic outlook, but rising costs of living are pushing HR to explore flexible rewards and benefits to stay competitive.”
• Keletjo Chiloane, Mercer Africa Head of Career Services: “Generative AI and automation are reshaping the job market in Ghana, creating demand for digital skills and requiring organizations to foster digital literacy and adaptability.”
Emerging trends
• The rise of generative AI and automation is driving the need for upskilling and reskilling programs, as companies prioritize efficiency and productivity.
• New tech-oriented roles are emerging, highlighting the importance of digital competencies for workforce readiness and economic growth.
The bottom line
Mercer recommends organizations assess skill gaps, refine hiring and retention strategies, and build a strong Employee Value Proposition (EVP) to navigate Ghana’s evolving workforce demands.
