It appears possible that the UK national minimum wage will be subject to an above-inflation increase for 2014/2015. XpertHR would like to canvass your views on the potential above-inflation national minimum wage increase for 2014/2015. Please take part in the 2014 XpertHR pay forecast survey and have your say.
Above-inflation national minimum wage increase in prospect for 2014/2015?
Chancellor George Osborne has recommended that the independent Low Pay Commission (LPC) recommend an above-inflation increase to the national minimum wage for 2014/2015.
There is speculation that Osborne would like to see the national minimum wage adult rate increase to around £7 per hour by 2015/2016. This would represent a significant rise from its current level of £6.31 per hour for 2013/2014.
The LPC is expected to publish its national minimum wage recommendations for 2014/2015 in the Spring. The national minimum wage rates for 2014/2015 are expected to come into effect from Wednesday 1 October 2014.
- For more on what we might expect from the national minimum wage increase for 2014/2015, see: XpertHR economic overview February 2014: Why pay could prove pivotal to economic recovery and Pay trends January 2014: new year sees modest boost to pay deals.
Pay forecast 2014: Please take part in the XpertHR survey
XpertHR is currently conducting its pay forecast 2014 survey survey. This research is designed to gauge the pay intentions of private-sector employers over the coming year, and discover their views on the national minimum wage uprating for 2014/2015.
Completing this confidential survey entitles you to:
- A free copy of the research summary report, providing valuable benchmarking data for your next pay award, as soon as it is published.
- Immediate access to the XpertHR guide on how to develop a reward strategy.
In addition, all those respondents whose data can be used in XpertHR survey analyses will be entered into a prize draw for the chance to win £1,000.
- Pay forecast 2014 Take part in the XpertHR survey.
- XpertHR economic overview February 2014: Why pay could prove pivotal to economic recovery
- National minimum wage Full details of the national minimum wage for 2013/2014, from XpertHR.