2018 pay awards forecast at 2.5% (XpertHR/TheHRDirector)

“Looking back, in the three months to the end of February 2018 XpertHR has recorded a 2.5 percent median basic pay award across the economy. Based on a sample of 169 basic pay awards effective between 1 December 2017 and 28 February 2018, we find that:

The median pay award across the whole economy is 2 percent, with the middle half of pay awards (the interquartile range) worth between 2 percent and 3 percent. While only a quarter (26 percent) of pay awards were the same as the award received by the same group of employees last year, the majority (57.3 percent) were higher. Just 16.8 percent of awards were lower than the employee’s previous increase.

Within the private sector, the 2.5 percent figure is also recorded for pay awards in private-sector services firms, while manufacturers reported a median 2.6 percent increase. Over the 12 months to the end of February 2018, the median pay award in the private sector is 2 percent, compared with 1 percent in the public sector”.

Written by Sheila Attwood, Pay and Benefits Editor – XpertHR, appeared on the thehrdirector.com

You can read the full article at:

https://www.thehrdirector.com/business-news/pay_and_reward/2018-pay-awards-forecast-2-5-percent/?utm_source=HRD+Ebrief+List&utm_campaign=8b1dd06bfb-EMAIL_CAMPAIGN_2018_04_03&utm_medium=email&utm_term=0_fda82063f0-8b1dd06bfb-339279537  

Changes to national minimum wage 2018

The new increased hourly national minimum wage rates come in on 1 April and are as follows:

•    Under 18s increased from £4.05 to £4.20;
•    Ages 18-20 increased from £5.60 to £5.90;
•    Ages 21-24 increased from £7.05 to £7.38; and
•    Age 25 and over increased from £7.50 to £7.83.

#NMW2018