'Cautious' hike in UK pay, say TWDS
- Published on Friday, 09 March 2012 14:51
- Posted by Scott Buckler
This year will see a three per cent pay rise for employees in the process of career development in the UK
A 2.9 per cent rise in inflation will thus be outstripped by the pay hike, but only just, say New York's Towers Watson Data Services (TWDS).
"UK employers are still cautious when it comes to pay increases, with rises only fractionally above inflation, after a period of negative growth in real salaries," commented the organisation's Paul Richards.
Meanwhile, the majority of the benefit will be dished out based on how employees do in their line of work, at least in German, British and French organisations, the TWDS' Salary Budget Planning Report suggests.
Along with Italy and Spain, these countries will all share a similar pay rise, the organisation says.
Britain's current rate of inflation means Brits will perceive less of a benefit than our Spanish, French and German neighbours, it adds.