Employee reward and benefits have remained topical issues during a period of high inflation and the cost-of-living crisis. We look at priorities and challenges facing reward departments this year, and how organisations are supporting employees with the cost of living.
XpertHR's headline measure of basic pay awards has risen to 6% over the three months to the end of January 2023, one percentage point higher than in the previous rolling quarter, reaching a 32-year high.
As 2023 dawns it appears likely that pay awards will continue to lag behind inflation over the next 12 months, with the resulting cut in real wages set to hit employees hard.
As we reach the end of the calendar year, XpertHR's provisional headline measure of basic pay awards has risen sharply to 5% over the three months to the end of November 2022, up from 4% in the previous rolling quarter.
Our survey looks at the use of performance-related pay schemes, the factors taken into account when deciding the pay rises and the effectiveness of such schemes.