More than half (55%) of the 704 UK employers surveyed plan to freeze employee pay during the next pay round.
However, as we noted yesterday, the CBI finds evidence of a silver lining in such action, arguing that it reflects a collaborative approach between employers and employees. This echoes sentiments expressed last week by Bank of England Monetary Policy Committee member Andrew Sentance, that the rising use of pay freezes is in some ways positive.
Latest research from pay specialists at Industrial Relations Services (IRS) for XpertHR indicates that the incidence of pay freezes is already reaching unprecedented levels in 2009 (subscription required), accounting for around one-third of pay awards concluded over the three months to 30 April 2009.
The next IRS analysis of whole economy pay trends will look in detail at the proportion of pay freezes and pay cuts in the three months to 31 May 2009, when it is published to XpertHR's Pay and Benefits homepage on Friday 26 June 2009.
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