Private-sector staff are likely to enjoy a median increase of 2.5% in their wages next year, according to a survey by XpertHR.
Seven pay awards out of 10 next year are likely to be worth between 2% and 3%, the survey found.
Manufacturing-and-production firms, at 3%, are likely to pay slightly more than services-sector employers, at 2.4%. Pay freezes will account for less than 10% of all pay awards.
Almost all (92.5%) respondents to XpertHR’s survey said that company performance and their ability to pay was the key factor influencing salary increases. Inflation levels are also important, cited by 79.5% of respondents. While inflation is expected to push up pay award levels, company performance is expected to exert a downward pull….