The latest XpertHR analysis of pay awards again shows a slowdown in growth overall, although public-sector pay deals are starting to come in at record levels.
With pay awards reaching the highest levels of the last 30 years, we review the trends in both basic pay awards and those based on a measure of performance.
At the halfway point in the year, pay awards remain high but continue to lag behind inflation, implying many employees are still facing a real-terms cut.
XpertHR's latest analysis of pay settlement trends takes in April pay reviews, the most common month in the year for this activity. The data reveals no let-up in pay pressures, with the median standing firm on the level recorded in the first quarter of the year.
XpertHR's Sheila Attwood looks at the first pay reviews for 2023 set against the economic and labour market background before looking at how organisations are helping employees with the cost of living.
XpertHR's headline measure of basic pay awards remains unchanged in the three months to the end of March 2023, with April settlements likely to follow suit.