The median pay settlement for the three months to the end of July 2015 stood at 2%, according to the latest analysis from XpertHR. The pay monitoring body, however, does report that the number of pay freezes continues to fall; just a handful of all pay deals (6%) resulted in no increase in base pay in the three months analysed.
Sheila Atwood, editor of XpertHR’s Pay and Benefits, said:
‘Employers are either unable to, or see no need to, increase wages by any more than 2%. So far in 2015, just 28% of pay awards were higher than the same group of employees received a year ago – the majority being at the same or a lower level.’