Editor's message: The pay and benefits offered by an employer will be one of the key factors employees consider when looking for work. In turn, an organisation's payroll is likely to be its biggest expense. It is therefore vitally important that employers plan their pay and benefits offer carefully.
For organisations needing to review and benchmark pay rates, Cendex from XpertHR offers reward data on over one million UK employees across 25 different function groups, all located in a single platform, providing access to the most comprehensive reward data. XpertHR also provides easy access to inflation and other economic indicators to help inform pay decisions.
XpertHR also collects and analyses pay settlement data, and our latest analysis includes an analysis of the pay reviews over the whole of 2023 so far. We also conduct regular surveys to get a clearer picture of what has happened to pay awards in UK organisations over the past year, the measures that influence pay settlement levels, and the outlook for pay awards over the year ahead. Our latest findings suggest that pay awards in 2024 will be a little lower than we recorded in 2023, but remain high by historical standards.
Sheila Attwood, senior content manager, data and HR insights
HR and legal information and guidance relating to pay and benefits.