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Tags: salaries
Salaries increase for first time since recession
On a yearly basis, salaries increased for the first time since the recession, with advertised salaries up 0.9% compared to July 2013, according to the latest UK Job Market report from Adzuna. There was also a 2.9% increase month-on-month in July, the fourth consecutive month in which wages have grown. Total advertised vacancies grew by…
Average salary growth doubles
Average salary growth doubled in June, suggesting the labour market recovery is picking up speed, according to the latest UK Job Market Report from Adzuna.co.uk. Advertised salaries rose to £32,933 in June 2014, growing 1.7% between May and June – more than double the rate of growth witnessed between April and May (0.6%). It was the…
A fifth of workers say personal financial problems affect their job
A new report into the financial health of today’s employees reveals that the key to increasing an individual’s financial well-being is improving their financial capability and encouraging savings. The Barclays report, entitled Financial Well-being: The Last Taboo in the Workplace? challenges the widely-held belief within organisations that financial health is determined by level of income.…
Number of ‘economically inactive’ people in UK at lowest rate for 24 years
The Office for National Statistics (ONS) released their Labour Market Statistics for April. Key points were: Latest estimates for December 2013 to February 2014 show that employment continued to increase, unemployment continued to fall, as did the number of economically inactive people aged from 16 to 64. These changes continue the general direction of movement…
One in three employees expect to receive a pay rise in next 12 months
A new survey by Glassdoor, a jobs and careers community, reveals that one in five (21 percent) UK employees say that they fear losing their job in the next six months. The Q1 2014 UK Employment Confidence Survey, conducted online by Harris Interactive among UK employees, monitors four key indicators of employee confidence: job security, salary…
15 million working age adults living on ‘knife edge’ with no savings at all
Millions of working families with children in the UK could not pay their rent or mortgage for more than a month if they lost their job, new figures from Shelter reveal. The YouGov survey of working adults who pay rent or a mortgage found that with little or no savings to fall back on, 3.8…
Universities need to reveal secret pay rises given to leaders
Just two UK universities provided details of their vice-chancellor’s pay rise for a report looking into the murky world of senior academic pay released yesterday. Four-fifths of universities refuse to even release minutes of committee that sets vice-chancellor’s pay Just two sets of minutes from the 27 received list the vice-chancellor’s pay increase and a…
Permanent salaries rising at fastest rate for seven years
Faster increase in permanent salaries but temp pay growth eases Sharper decline in candidate availability Growth of staff appointments eases but remains strong Summary The Recruitment and Employment Confederation (REC) and KPMG Report on Jobs – published today – provides the most comprehensive guide to the UK labour market, drawing on original survey data provided…
In some parts of the UK, nearly half of jobs pay under the Living Wage
In some parts of Britain nearly half the jobs are paying less than the living wage, the TUC revealed yesterday (Tuesday) to coincide with the 15th anniversary of the introduction of the minimum wage and the second week of the TUC’s Fair Pay Fortnight which runs until Sunday (6 April). TUC analysis of official figures from…
Competition for jobs 35% lower than last year
Competition for jobs has reached a two-year low after falling over a third in the space of a year, according to the latest UK Job Market Report from Adzuna.co.uk. In February 2014 there were 1.55 job seekers competing for each advertised vacancy, 35% lower than in February 2013 (2.39). Simultaneously, the number of UK vacancies has…
What expectations do you have this year for a pay rise?
A global poll conducted by Monster reveals that only half of respondents (51%) are expecting a pay rise. In honour of International Women’s Day on March 8 — a day set aside to inspire women and celebrate their achievements — Monster also looked at the results by gender, finding that female and male respondents are…
UK employees working record amounts of unpaid overtime
Employees across the UK worked a record amount of unpaid overtime last year, with over 5.4 million workers putting in around £640m worth of unpaid hours every week, according to figures published today (Friday) by the TUC to mark its annual Work Your Proper Hours Day. The TUC’s analysis of official figures shows that the…
Higher pay does not equal higher retention rates
Countries with higher GDP growth tend also to have higher levels of employee attrition, according to study of European economies by professional services company, Towers Watson. The General Industry Compensation Survey Report findings also show little evidence to suggest that countries with high real-wage growth (i.e. salary increases minus inflation) are able to use that…
It costs over £30K to replace a staff member
The new report was carried out by Oxford Economics and reveals that replacing members of staff incurs significant costs for employers: £30,614 per employee. There are two main factors that make up this cost: The Cost of Lost Output while a replacement employee gets up to speed The Logistical Cost of recruiting and absorbing a…