Latest pay trends data from IRS for XpertHR suggest that a slowdown in public sector pay awards is getting underway (external website) in 2010.
Analysis of 12-month trends in pay awards by broad industry sector reveals an interesting change of pattern. The median public sector pay award has halved, falling from 2% over the 12-months to 31 March 2010 to 1% over the year to 30 April 2010, bringing it in line with the private sector median.
This is a significant development, as public sector pay awards tended to outpace private sector settlements over the course of the recession. However, a 'reversal of fortunes' is possible over the coming months, if private sector pay awards stage a slow recovery in line with the UK's faltering return to economic growth. In contrast, pay freezes look set to be a major feature of public sector reward in 2010.
The latest IRS pay trends analysis also finds that the gap between pay and inflation has reached its widest point in the 26-year history of the IRS pay databank.
- If your organisation has recently carried out an annual pay review - 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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