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27/02/2017
Pay awards for the final quarter of 2016 stood at 1.9%, with half worth between 1% and 2.1%, according to latest analysis from XpertHR. 2016 as a whole was subdued in terms of pay awards, with around a quarter of all settlements monitored running at exactly 2%.
Analysis of deals reached with settlement dates in January 2017 suggests that this is still the norm, with half of all pay awards being reached at a lower level than that for the same group of employees in January 2016.
Sheila Atwood, pay and benefits editor at XpertHR, said:
‘The first pay awards to settle in 2017 are set at a similar level to that seen over most of the past year . . . But there is no doubt that, as the year progresses, employers will be feeling the pressure from employees to provide a real-terms pay increase.’