Pay awards/rises
Editor'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
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About this topic
HR and legal information and guidance relating to pay awards/rises.
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