7th October 2021

Pay awards stabilise for first time in two years

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The latest data* shows that the median basic pay increase is worth 2%, in the three months to the end of August 2021. The data suggests that 2% is now the new-normal, having dropped to a median nil award just over a year ago. Since that time, there has been a gradual increase in the value of pay awards, alongside a significant reduction in the numbers of companies implementing a pay freeze in place of any rise. 

Over the year to the end of August 2021, pay awards in the private sector were worth a median of 1.6%, just a small increase from the 1.5% median recorded in the year to the end of July 2021. However, it is 0.4 percentage points below the 2% recorded for the year to the end of August 2020.  

Read the full article here https://www.thehrdirector.com/business-news/pay_and_reward/pay-awards-stabilise-for-first-time-in-two-years-according-to-xperthr/