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.
Following a year where pay settlements reached the highest value in over 30 years, preliminary forecast data from XpertHR explores the shift in pay awards expected in the coming 12 months.
New analysis by XpertHR has found that public-sector pay deals stand at the highest they have been in over 30 years, following a period of high inflation and pressure from trade unions.
Pay awards across the manufacturing-and-production sector remained in line with the whole economy, but some industries have seen higher settlements than others.
Pay awards for private-sector-services organisations are consistent with the whole economy, standing high after an unprecedented year of record pay settlements.
The public-sector organisations that have implemented pay awards over the past year have typically done so at a level above that paid a year earlier and often in favour of lower-paid staff. We look at the detail, including key settlements in the sector.
Despite a marked increase on the previous year, pay awards in the not-for-profit sector continue to fall behind those in most other sectors.
The latest XpertHR analysis of pay awards again shows a slowdown in growth overall, although public-sector pay deals are starting to come in at record levels.
In this report we provide an overview of when in the year pay settlements are implemented and details of when pay review budgets are set.
With pay awards reaching the highest levels of the last 30 years, we review the trends in both basic pay awards and those based on a measure of performance.
Survey analysis: HR and legal information and guidance relating to pay awards/rises.
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