Employers predict 2.5% pay increase for 2013

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….

http://www.personneltoday.com/Articles/26/10/2012/58954/employers-predict-2.5-pay-increase-for-2013.htm

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