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Employee reward and benefits news
Private sphere pay awards continue to outpace public sector
Workers in the private sector are continuing to receive pay awards that exceed their contemporaries in the public sector, according to a new report which shows that UK pay awards in the three months to the end of June 2012 were a median two per cent.
The data, published by the analyst XpertHR, reveals that pay awards in the public sector are currently at zero, while in the private sphere they stand at an average of 2.4 per cent.
Overall, the profile of pay awards in the private sector remains broadly unchanged, with 14.6 per cent of all settlements in the private sector over the past three months resulting in a pay freeze.
The most common pay award continued to be two per cent, which was awarded in 18.3 per cent of the basic pay settlements, followed by three per cent, accounting for 17.9 per cent of employee rewards.
XpertHR pay and benefits editor Sheila Attwood said that the UK can now look forward to how pay settlement levels will shape up over the remainder of 2012.
"However, with the third quarter of negative economic growth now confirmed, and the labour market remaining weak, there is no sign of any upward movement in pay settlement levels over the coming months," she added.
Thomsons Online Benefits can show you how to derive real value from your employee rewards, ensuring they meet business objectives and engage employees.
Posted by Editorial Team
July 31st 2012
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