36% of people have had a pay rise this year according to Mori iPSOS. Out of the 1600 people who were surveyed, one-in-three report their pay to have been frozen this year, while 3 percent are suffering a pay cut. Although 64 percent are reporting their pay to have been revised higher, only 23 percent are reporting an increase of more than 2%.
The survey responses collectively point to employee pay reviews leading to an average pre-tax salary increase of just 1.3% this year, higher than the 1.0% increase signalled for 2015 but below the 1.5% rate recorded in 2014.
It is reported that pay reviews in the public sector in April continued to lag behind those in the private sector, with salary growth rates of 1.6% and 0.9% signalled respectively, although both are up on 2015. Shockingly, the proportion of employees in the public sector reporting a pay cut or freeze rises to 51 percent compared to 28 percent in the private sector.
It was also recently reported that less than half happy with what they’re earning, and the vast majority are looking to change jobs in the next two years.
It is widely known that now more than ever before, employers are focusing on retaining and developing strategies in order to retain their staff in an increasingly competitive market.
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