Topics

Pay awards/rises

Sheila AttwoodEditor's message: Most organisations will conduct a pay review each year, which may or may not result in a pay rise for employees.

At the time of your organisation's annual pay review, data on the pay rises that other organisations in the same and similar sectors are awarding can be invaluable - indicating the "going rate" for pay settlements - and you are also likely to want to take the latest official data on inflation and earnings growth into account. Ahead of the busy January and April pay settlement dates, information on the pay awards that employers are forecasting for the months ahead is likely to be particularly useful.

Some employers vary the level of pay rise they make dependent on a measure of employee performance. In addition to being a mechanism to reward high-performing employees, this can help create a high-performing culture within your organisation.

Sheila Attwood, senior content manager, data and HR insights

New and updated

  • Type:
    Editor's choice

    Survey analysis and Benchmarking data: The complete list

    Updated to include new benchmarking survey on: annual leave; pay awards March 2024; and pay forecasts for 2024.

  • Type:
    Economic data

    Pay awards

    Updated to include the XpertHR pay settlement data for the three months to the end of February 2024. XpertHR will publish the next pay figures on 25 April 2024. 

  • Date:
    21 March 2024
    Type:
    Survey analysis

    Forecasts for pay awards in 2024

    With inflation falling, will pay awards maintain the 32-year high we recorded in 2023? We explore pay forecasts data to provide insight into where pay awards are expected to be for 2024 and the factors that are likely to have an effect on these decisions.

  • Date:
    21 March 2024
    Type:
    Survey analysis

    Pay trends March 2024: Slowdown in pay awards continues

    Our latest analysis of pay awards shows a continuing slowdown in pay growth as more 2024 deals come into effect.

  • Date:
    22 February 2024
    Type:
    Survey analysis

    Pay trends February 2024: First pay awards of 2024 see slight decline

    With the first settlements of 2024 having come into effect, we are beginning to see how organisations are responding following the 2023 unprecedented pay award levels.

  • Date:
    30 January 2024
    Type:
    Commentary and insights

    Should you trust forecasts?

    With so much information at our fingertips, working out which data to trust can be an overwhelming task. To help you, we have put away our crystal ball and taken a look back to explore the reliability of our research and to understand retrospectively how accurate our pay forecast analyses have been.

  • Date:
    25 January 2024
    Type:
    Survey analysis

    Pay trends January 2024: A first look at new year deals

    As 2024 dawns, we round-up all 2023 pay settlements and set the scene for the year ahead with a look at the first deals recorded.

  • Date:
    21 December 2023
    Type:
    Survey analysis

    Pay trends December 2023: Pay awards remain at 6%

    In what has been an unprecedented year for settlements, pay awards have not slowed down. For the eighth time in 2023, the median pay settlement value hits 6% and since autumn, public-sector deals have continued to surpass the private sector.

  • Date:
    23 November 2023
    Type:
    Survey analysis

    Pay trends November 2023: Whole economy pay awards edge upwards

    As the year draws to a close, so does pay settlement activity. The median basic pay award in the three months to the end of October edges back up to 6%, driven by public-sector pay deals.

  • Date:
    6 November 2023
    Type:
    Podcasts and webinars

    Podcast: Pay awards - what's in store for 2024?

    Paula Flores and Hannah Mason, data insight analysts at XpertHR, make their predictions for 2024 rewards based on the findings from our autumn pay forecasts and priorities survey.

About this topic

HR and legal information and guidance relating to pay awards/rises.

Pay awards/rises: key resources

Tools for pay specialists