Benchmark pay award for 2013 was 2%

by Rob Moss 20 Dec 2013

Pay awards in 2013 are confirmed as 2%, according to the latest data from pay specialists XpertHR.

Retail price index (RPI) inflation stood at 2.6% in November, meaning employees have again seen a fall in wages in real terms over the past year.

Employees will be hoping that they receive the predicted 2.5% pay award for the coming year.” – Sheila Attwood

Falling wages, in real terms, are set to continue for another year for many employees. XpertHR’s survey of pay forecasts for the year to the end of August 2014 revealed that the majority of private-sector pay awards are expected to fall between 2% and 3%, with very few forecast at levels above that. RPI inflation is predicted to sit at around 3% during 2014.

XpertHR Pay and Benefits editor Sheila Attwood said: “The 2% benchmark pay award during 2013 is lower than employers had predicted, but reflects the fragile economic recovery. Employees will be hoping that they receive the predicted 2.5% pay award for the coming year.”

Visit XpertHR to read all the key findings for pay awards in the three months to the end of November 2013.

Rob Moss

Rob Moss is a business journalist with more than 25 years' experience. He has been editor of Personnel Today since 2010. He joined the publication in 2006 as online editor of the award-winning website. He specialises in labour market economics, gender diversity and family-friendly working. He has hosted hundreds of webinar and podcasts, most recently on the challenges created by the coronavirus pandemic. Before writing about HR and employment he ran news and feature desks on publications serving the global optical and eyewear market, the UK electrical industry, and energy markets in Asia and the Middle East.

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