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Pay increases on the rise as the economy improves says XpertHR

Published:  22 August, 2014

There are signs that an improving economy are finally being seen in pay packets and salary increases across the country, according to new research from pay specialists, XpertHR.

Higher salaries are coming backEmployees are starting to see better pay rises being offeredSource: Mitchells & ButlersNew salary research shows employers are slowly willing to pay more

There are signs that an improving economy are finally being seen in pay packets and salary increases across the country, according to new research from pay specialists, XpertHR.

It estimates that although pay settlements remain at just 2% across the board, there are real signs that businesses are prepared to give employees a little more in some quarters.

In the three months to the end of July 2014, the median pay deal resulted in an increase of 2%, unchanged since the three months to the end of April. But a quarter of deals are now worth more than 2.8%, although one in one settlement in 10 (7.1%) did result in a pay freeze.

The most common pay awards are between 2% and 3% (16.7% of all pay settlements).

The private sector, however, lags behind manufacturing and production sectors where pay settlements tend to be nearer the 3% mark. Pay awards in the private sector remain at a median 2% in the three months to the end of July.

Sheila Attwood, pay and benefits editor at XpertHR, said: "It is encouraging to see some higher pay awards being made, and few employers making pay freezes. As attention starts to turn to the new year wage round, we are hopeful that we will see an upturn in settlement levels during 2015."

XpertHR provides online employment and HR support including benchmarking information where different empoloyers can track their own performance against their peers in other sectors, including detailed statistics and analysis of pay settlements across the UK.

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