With a slow growing economy, few commentators expect a sudden change in pay growth for the foreseeable future. This is confirmed in XpertHR's survey of pay award forecasts, with the expected value of pay awards for the coming year remaining subdued.
A reward strategy describes the pay and benefits on offer at an organisation and how it will help to meets business objectives, however, our latest research finds that less than half of employers have one in place.
With Government policy restricting the level of pay awards in the public sector in 2015/16 to an average of up to 1%, settlements across the sector have remained subdued and the Conservative Government has made clear its determination to continue this approach for the coming four years.
With the implementation of the national living wage in April, 2016 is a big year of change for pay. But our very first analysis of the new year's pay awards suggests the continuance of many of the factors that have kept pay awards low over the past few years.
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