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11/10/2016
Pay settlements for the three months to the end of November stood at a median of 1.6%, according to the latest data from XpertHR. This is below the 2% norm recorded over the past few years, although it’s slightly up on the median of 1.5% recorded for the previous rolling three-month period. Further evidence of the subdued nature of pay settlements is provided by an analysis of how the latest pay reviews compare with what was awarded by the same employers a year ago. Just 22% of the latest pay reviews were worth more than the same group of employees received at their previous review and more than 40% were lower than last year.
Sheila Atwood, XpertHR pay and benefits editor, said:
‘Employers have acted with caution over the past year when it comes to rewarding employees and we expect this to continue when pay bargaining gets into full swing again in the New Year.'