Partner Article

Pay growth lethargic

Pay growth appears to be languishing at 2%, analysis from XpertHR suggests.

The pay and HR specialists say the median pay increase in the three months to the end of November 2012 stands at 2%.

Almost a quarter of pay awards in the three months to the end of November 2012 resulted in a pay freeze, and over the year to the end of August 2013, 8.7% of employee groups are expected not to receive a pay rise.

According to the Office for National Statistics, total pay rose by 1.8% between August and October, and regular pay rose by 1.7%.

XpertHR Pay and Benefits editor Sheila Attwood said: “Pay awards have ended the year on a low note, with the 2% median increase well below trend, and inflation. Even with the best intentions, employers will be bound by what they can afford to pay over the next year.

“Private sector employers are predicting pay increases in the region of 2.5% over the coming year, and we expect a continuation of pay freezes for some and few awards worth more than 3%.”

This was posted in Bdaily's Members' News section by Tom Keighley .