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  

2017 ENDS WITH PAY AWARDS AT TWO PERCENT

Based on a sample of 42 basic pay awards effective between 1 September and 30 November 2017, XpertHR 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 1 percent and 2.5 percent. While only a tenth (11.8 percent) of pay awards were lower than the award received by the same group of employees last year, the majority (61.8 percent) were the same. One-quarter (26.5 percent) of awards were higher than the employee’s previous increase.

Within the private sector, the 2 percent figure is recorded for pay awards in both manufacturing-and-production organisations and in private-sector services firms. Over the 12 months to the end of November 2017, 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 hrdirector.com