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Pay awards given in the last quarter fell to an average of 1.7 per cent, according to the latest figures.
Data from XpertHR shows in the three months to the end of April, median pay awards were 1.7 per cent – the first time in two years they have fallen to below two per cent.
It also appears that despite April being the busiest year for pay awards, activity is relatively slow, with experts believing the introduction of the national living wage and ongoing concerns about Brexit undermining firms’ optimism.
Figures show 45.3 per cent of pay awards given were lower than the same group of employees received in 2015, with only 22.7 per cent higher in 2016.
There also continued to be a difference between the public and private sector rewards, with the former averaging just one per cent compared to two per cent in the private sector.
XpertHR pay and benefits editor Sheila Attwood said: “There is a definite dip in the level of pay awards across the economy, although low public sector pay awards are partly to blame.
“In the private sector, the impact of the national living wage is still in its early stages, and employers remain cautious about the level of pay increases being given to employees.”