Thursday, August 20, 2020

UK Pay Rises Fall

 British private-sector employers have slashed their annual pay awards to staff, offering the lowest increase in 10 years.

Human resources data provider XpertHR said pay deals in the three months to July offered a median annual pay rise of 0.5%, down from 2.2% in the previous three readings. 

Pay freezes accounted for more than four in 10 settlements.

Looking at 2020 so far, and including the public sector, the median basic pay settlement was worth 2.2%, down from 2.5% over the year to December 2019.

XpertHR pay and benefits editor Sheila Attwood said. “We also expect many of the pay reviews currently on hold to ultimately result in a pay freeze for staff, making 2020 the worst year for pay awards since 2009.”

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