Pay settlements on an even keel

Posted by HR Zone in Managing people on Mon, 11/06/2001 - 17:38

While headline inflation has dipped down sharply over the past few months to below 2 per cent, pay settlements remain on a fairly even keel. The key range for private sector pay reviews is 2.5 to 3.5 per cent, with a particular concentration around 3 per cent. These are among the findings of the latest analysis of pay reviews published in IDS Report.

The latest analysis by Incomes Data Services (IDS) covers some 128 newly monitored pay reviews, the majority taking effect in the second quarter of 2001. There is heavy clustering of second quarter private sector increases at 3 per cent, with a secondary clustering at 3.5 per cent. In large parts of the public sector, April 2001 pay deals have given pay rises of 3.7 per cent.

IDS Report comments that the decline in the annual inflation rate has not yet had an influence on pay bargaining as the RPI is a lagging indicator and the latest batch of pay reviews were decided before the announcement of the April inflation rate in mid-May.

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Editor's Welcome

 

Hello! And welcome back as we enter 2012, with a busy year ahead of us all. With talk of double-dip recessions, a possible partial or even full break-up of the Eurozone and unemployment rates set to hit nearly 9%, topics such as organisational streamlining, staff resilience and talent management are likely to be on many an HR professional's lips over the next 12 months.
 
But to lighten the gloom here in the UK, we also have the Queen's Diamond Jubilee and its attendant public holidays to look forward to at the start of June. Followed by two weeks of Olympic Games from 27 July to 12 August and the Paralympics from 29 August to 9 September, each generating their own excitement, but also issues to work through for hard-pressed HR departments trying to sort out the multifarious staffing issues in advance.
 
So with an interesting but challenging year to come, HRZone promises to be with you, supporting you all the way and providing our usual insightful blend of news, analysis, community blogs and expert comment to help you sort the wheat from the chaff. As ever, we love to hear from you too so feel free to either post your words of wisdom to our blog section yourself or, in the case of longer, more in-depth ‘expert voice’ articles, drop me a line with any ideas to cath.everett@siftmedia.co.uk.....
 
Cath Everett
HRZone Editor 
 
 
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