Economic IndicatorsTop News

More UK employers give staff pay freezes, XpertHR survey says

imageEconomic Indicators8 hours ago (Jun 25, 2020 09:35AM ET)

(C) Reuters. FILE PHOTO: People walk through the Canary Wharf financial district of London

LONDON (Reuters) – Pay freezes among British employers are on the rise as they grapple with the fallout from the coronavirus lockdown, a survey showed on Thursday.

Human resources data provider XpertHR said 15% of pay deals in the three months to the end of May offered no increase in wages – almost double the proportion in the three months to April.

“Across the private sector, alongside the many organisations delaying a decision on their annual pay review, the number reverting to a pay freeze is increasing,” XpertHR pay and benefits editor Sheila Attwood said.

“With the potential for redundancies looming, frozen or reduced pay is likely to be used as a way to minimise the number of job losses.”

In the three months to the end of May, XpertHR recorded a 2.2% median basic pay award across the economy, unchanged from the previous period, based on a sample of 243 basic pay awards.

More UK employers give staff pay freezes, XpertHR survey says

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Related Articles

Back to top button
Close
Close

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!