‘Much-needed’ rise in pay settlements – XpertHR

Initial pay settlements reached for the busy January pay review month are worth a median 2.5%, up half a percentage point on the 2% seen throughout 2017, according to XpertHR. The pay analyst has not recorded a single-month headline figure at this level since early 2014, but stresses that the 2.5% median represents only 59 awards and is, therefore, a snapshot of the first deals to be concluded in early 2018.

Based on a matched sample of employee groups with a pay review date in January, almost 60% of awards paid more than the increase awarded in January 2017.

XpertHR pay and benefits editor Sheila Atwood said:

‘It is almost four years since XpertHR’s headline measure of pay awards has stood at 2.5%, but we are now seeing some much-needed growth in pay award levels in the first deals to be concluded in 2018.’