Pay Intelligence October 2008: Annual review of pay trends and prospects
Pay prospects for 2008/09 | Annual review of pay trends | Performance pay in 2007/08
Economic outlook | Pay bargaining calendar | IRS pay databank
Datafile | Bargaining statistics | About IRS pay analysis
On this page: Pay Intelligence is a regularly updated online resource, bringing together links to the latest pay settlement analysis and economic indicators from across the IRS and XpertHR portfolio, providing everything you need to keep track of pay trends.
Summary of key pay data:
IRS headline measure of pay settlements: 3.5% in the three months to 30 September 2008
Release date: 24 October 2008
Next release date: 21 November 2008
Summary: The median award for the three months to 30 September 2008 is 3.5%, unchanged from that recorded for the previous two rolling quarters.
This month's issue of Pay Intelligence is devoted entirely to our annual review of pay trends. We examine pay settlement patterns over the past year and present the findings of our major survey of private sector employers on pay prospects for 2008/09. The resources below will provide everything you need to prepare for your organisation's 2009 pay review.
- Pay prospects survey: 2009 pay rises to be worth 3.5% Our exclusive survey of 268 private sector employers finds that they expect to award pay rises of a median 3.5% in the year ahead. We examine whether or not this level of pay awards can be sustained amid falling inflation, economic shocks and rising unemployment. If you don't have time to read the whole article now, look at our summary of the findings.
- Annual review of pay trends 2008: Pay awards lag behind inflation We review pay awards over the past two years, exploring what has happened across the whole economy and by sector. We also present the findings of our monthly analysis of pay deals, which finds that the median basic pay award was 3.5% in the three months to 30 September 2008.
- Performance pay budgets increase by 3.75% in 2007/08 This article presents an analysis of performance-based pay awards over the 12 months to 31 August 2008, revealing that paybill budgets rose by a median 3.75% over that period.
- Economic outlook for 2008/09: Falling inflation and slow growth We examine the current widespread economic uncertainty and the ongoing deterioration of conditions, and look at forecasts for the key economic indicators of interest to pay setters.
- The pay bargaining calendar in focus This article explains which months are the most popular for setting pay awards, by sector.
- IRS pay databank: 24 October 2008 This contains the full statistical breakdown of findings from the IRS pay databank, covering basic pay settlements received by IRS in the year to 30 September 2008. IRS collects the details of around 1,400 pay settlements every year.
- Datafile: 24 October 2008 The twice-monthly datafile contains:
- The latest inflation and earnings statistics
- Pay settlement statistics from IRS and other pay commentators
- Inflation and earnings forecasts from IRS and the Treasury
- Bargaining statistics: 24 October 2008 A summary of bargaining statistics, including the official figures on inflation, earnings and the labour market, as well as settlement statistics from the main pay analysts.
- About IRS pay analysis Read about how IRS collects, records and analyses pay data.
Pay Intelligence archive Access previous editions of IRS Pay Intelligence.
Pay review update archive Run this saved search to view the complete archive of IRS pay review update articles on XpertHR presenting summaries of some of the pay settlements from the IRS pay databank.
Datafile archive Run this saved search to access the complete archive of IRS datafile articles on XpertHR, presenting summaries of pay settlement statistics from IRS and other pay commentators, plus inflation and earnings forecasts collected by IRS.
Economic indicators XpertHR allows you to browse all the latest economic and labour market statistics, such as inflation, earnings, unemployment and working hours.
Official figures Pay specialists at IRS and XpertHR present their in-depth analysis of the 2007 Annual Survey of Hours and Earnings (ASHE) from the Office for National Statistics, which provides the most recent and comprehensive available snapshot of UK earnings data.