HR professionals can look forward to pay awards set well above the rate of inflation in 2009 (subscription required), according to research from CELRE, part of the XpertHR group.
As at September 2008, basic pay awards for coming year are expected to be worth 3.5% at the median.
This is 3.1 percentage points above the expected rate of retail prices index (RPI) inflation over 2009 as a whole (0.4%) (subscription required), as forecast by our panel of expert commentators. The median expected paybill increase for HR staff is 4%, which is 3.6 percentage points above the forecast rate of RPI.
It will be intriguing to see how these predictions pan out as 2009 gets into full swing...
Watch this space.
- Has your organisation recently carried out an annual pay review? If so, and if it has now been settled, please get in touch so that we can add your organisation's pay award to the IRS database.
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