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11/10/2016
Pay awards in the three months to the end of July 2016 bounced back to the 2% median level recorded at the beginning of the year following a dip to 1.8% in the spring, according to the latest data from XpertHR. While the level of pay increases monitored remains subdued, the 2% level does represent a real-terms increase in pay compared with RPI of 1.9% in July 2016.
Almost half of awards monitored in the latest quarter are lower than the award received by the same group of employees last year.
Sheila Atwood, pay and benefits editor, said:
‘The busiest part of the year for pay awards is now behind us. Based on data for the year so far, we see no signs that pay award levels will increase in the remainder of the year.’