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NewsCIPD: Pay freezes more common than rises in 2011
CIPD: Pay freezes more common than rises in 2011
Posted by Francesca Witney
Pay awards in the UK have remained subdued throughout 2011 as companies struggle to get back on their feet in the aftermath of the recession.
That is according to a new report produced by the Chartered Institute of Personnel and Development (CIPD), which found that around three in five workers - 58 per cent - have endured a pay freeze at some point this year.
By comparison, just 28 per cent have benefited from a rise in their salary over the same period - something the CIPD noted is indicative that the majority of people are under pressure financially.
Performance and reward director at the body Charles Cotton observed: "Even those who are lucky enough to get an increase in their pay will find it below the current cost of living, compounding consumer belt tightening."
Recently, Marcus Alexander of Appleby Associates stated many people moving from the public sector to the private arena have unrealistic expectations in terms of their pay and benefits.
08/08/2011 15:52
News category: Employment