According to XpertHR’s analysis, the salary incentives for the second quarter of this year were twice as valuable as the same period in the first quarter.
In the three months to June 30, 2021, the median salary was 2%, double the 1% recorded in the first three months of the year. However, XpertHR claims that this wage acceleration has not continued and that the median 2% has been stable over the last three quarters. In the public sector, the value of compensation has fallen for the first time in almost three years. After the 12 months to the end of August 2019, public sector wage growth was fixed at 2.5%, but fell to 2.3% for the 12 months to the end of June 2021. In the 2021 wage round, the government implemented a wage suspension. ‘For much of the public sector. However, NHS frontline staff and other public sector workers with annual salaries of £ 24,000 or less were guaranteed a salary increase of at least £ 250. In contrast, private sector wage incentives increased in the second quarter, with median incentives reaching 2% for the third straight quarter. Food manufacturers, chemical companies and retailers have awarded the highest wage awards. The percentage of employers who freeze wages continued to decline this quarter. For example, in manufacturing and production, only 7.5% of transactions increased by 0%. Overall, wage freezes accounted for only 15.9% of all reviews. XpertHR also found that the cutoff point for the top 25% of transactions was as high as 2.3%, while the bottom quartile remained at 1%. In the pandemic-hit service sector, prizes fell to a median of 1.9%, just below the manufacturing record of 2%. More than half (54%) of this quarter’s salary rewards were less valuable than the same matching group received in a year.
Pay twice as many prizes as in the second quarter
Source link Pay twice as many prizes as in the second quarter