Pay awards have risen to 1.2% in the three months to October, having been pay freezes for the past three rolling quarters, exclusive research has revealed.
The latest provisional pay data from IRS, published on XpertHR, has revealed the minimum wage increase last month has given pay settlements a boost.
The data, taken from details of 75 pay awards that were settled in the three months to 31 October 2009, covering a total of 1,470,327 employees, found the median basic settlement was up by 1.2%.
Sarah Welfare, XpertHR pay and benefits editor, said: “Employee wage deals have recovered a little, helped by the increase to the national minimum wage in October. But it’s too early to say whether the key January 2010 pay round will be more buoyant. The predicted rise in headline inflation next year is likely to be too late to have much of an effect on January pay rises.”
Key points from the survey…
The median basic pay award was 1.2% in the three months to 31 October 2009.
One-third of all pay awards are pay freezes, while no new pay cuts have been recorded.
Basic pay awards in the services sector were worth a median 1.5% in the three months to the end of October 2009, while those in the manufacturing sector were worth 1%.
|The full survey is available to XpertHR subscribers.|