As we reach the halfway point of 2024, the median pay award has consistently remained below 5% in the year so far. The latest Brightmine analysis explores the impact of the recent national living wage rises on pay awards, as well as discussing how the proposals made by the new Labour Government may affect 2025 pay awards.
Many organisations require workers to come in at different times, to fill different roles. Enabling organisations to operate for extended periods outside normal working hours, shift working has its own set of challenges, both for employers and for employees working such patterns.
With April being the busiest month for pay settlements, we have seen little movement in awards reported so far in 2024. With this in mind, expectations for 2024 remain that pay settlements will remain below 5%.
We explore bonus payments given in the year to January 2024, analysing the payments awarded based on a variety of factors, including industry, job level, age and gender.
As we enter the busiest time of year for pay awards, we report on the pay settlement landscape so far in 2024 and examine the first April deals coming into effect.
With inflation falling, will pay awards maintain the 32-year high we recorded in 2023? We explore pay forecasts data to provide insight into where pay awards are expected to be for 2024 and the factors that are likely to have an effect on these decisions.
With the first settlements of 2024 having come into effect, we are beginning to see how organisations are responding following the 2023 unprecedented pay award levels.