Pay prospects looking good for 2012, claims CIPD
Newly released data shows that employers have the intention to increase pay over the course of 2012, reports Fresh Business Thinking.
The research, commissioned by the Chartered Institute of Personnel and Development (CIPD), asked 1,000 employers whether they planned to increase, freeze or even decrease pay over the course of the next 10 months to December 2012 and found that the expected mean basic pay settlement was 1.7 per cent.
Compared with 1.5 per cent in the previous quarter and 1.3 per cent year-on-year, this suggests pay intentions have reached their highest level since spring 2009.
No doubt this makes good reading for those looking for jobs in London or anywhere else across the UK – especially as 35 per cent of private sector employers are predicted a pay rise for their staff. In addition, the average pay rise has also been predicted to increase, creeping up from 2.1 per cent to 2.2 per cent.
Charles Cotton, CIPD rewards adviser, commented on the figures to Press Association: “Across all sectors, and whatever pay decisions are predicted, it’s vital that employers maintain an honest line of communication with employees in order to keep staff motivated and engaged.
“Previous CIPD research has shown that employees are satisfied with their employer’s pay decision if their employer has taken the time to explain the rationale behind that decision,” he added.