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3% pay award hopes prevail in face of mounting pay pressures

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Source: IRS Employment Review

Issue: 858

Date: 03/11/2006

Publisher: IRS

3% pay award hopes prevail in face of mounting pay pressures

TOPICS:

recruitment	labour market and economy retaining staff
pay and benefits	pay and grading systems pay levels and awards benefits (pay-related and other) pay-related incentives/awards

SECTORS:
agriculture and forestry
chemicals
construction
electricity, gas and water
engineering and metals
finance
food, drink and tobacco
hotels and catering
manufacturing (other)
mining and quarrying
paper and printing
public services
retail and wholesale
services (other)
textiles
transport and communication

AUTHOR: Sheila Attwood

Many employers have told us that they will be using 3% as a benchmark pay award over the coming year, but will face pressure to move above this level as inflation rises closer to 4% at the end of 2006.

KEY POINTS

The IRS annual survey of pay prospects questioned 216 private sector employers on their pay bargaining intentions for the year ahead.

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