Is there reward after recession?

Posted by Catherine Chubb in Pay & benefits on Thu, 20/05/2010 - 09:10

Catherine Chubb considers the impact of changes to rewards as we emerge from recession.
 

 

 

During the recession, surveys showed that around half of UK workers experienced a cut in pay, working hours or a loss of benefits. The most common cost-cutting approach taken by employers during the downturn was a salary freeze. But what is the impact of the measures taken on pay during the recession on the employment relationship? How will these measures impact the HR agenda as we move out of recession?

Widespread pay freezes
Joint CIPD and Mercer research showed that more than half of organisations froze salaries in 2009. The widespread pay freezes in the private sector seen last year are now being mirrored in the public sector, where the number of pay freezes is increasing. However, the extent to which salary 'freezes' in the private sector over the duration of the recession were really absolute pay freezes has to be questioned.

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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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