Tags: Inflation

UK companies to maintain 3% salary increases next year

British companies are planning to maintain this year’s average 3% salary increases in 2014 for the third year running, with the country’s inflation figure expected to remain stubbornly high, according to Towers Watson’s biannual Salary Budget Planning Report. The level of salary increase is broadly in line with other countries in Western European and North…

Board pay inflation stalls across Europe

Non-executive director pay remains static in most countries. Non-executive chairs earn 5 times that of general directors on Italian boards, but just 1.3 times the amount on Dutch boards. Female board representation improves, but gender pay gap widens, from 7 per cent in 2011 to 9 per cent in 2012. Executive pay restraint exercised across…

Bosses pay is ‘below inflation’, says Incomes Data Services

A forecast by pay specialists Incomes Data Services (IDS) said average rises for managers and professionals will be around 2.2 per cent, falling to 0.7 per cent for those in public sector organisations. Private sector pay awards are expected to be more generous, with average rises of 2.6 per cent, said the report. Adam Cohen…

Inflation reprieve for pensioners will make final salary pension deficits bigger

London – Thursday 10 January, 2013 – The National Statistician’s decision to introduce another new inflation index instead of overhauling the Retail Price Index (RPI) means that future pension payments will be higher than some employers were expecting, according to Towers Watson. The consultancy says the decision is a reprieve for individuals with pensions explicitly…

Almost half of workers think a real-terms pay cut is on the cards

NorthgateArinso’ s 2012 Global Pay Optimism Index exposes business need for additional benefits to offset sustained salary freezes   45.1% of workers* consider that they will be hit by a pay cut this year as there is no chance of an above inflation wage increase according to research launched today by HR experts NorthgateArinso. The…

Employers continuing to struggle to fund wages that keep pace with inflation

Good management to support employees and maintain employee engagement is more important than ever Despite welcome news today that inflation dropped to 3% in April, the Chartered Institute of Personnel and Development (CIPD) is warning that employers are continuing to struggle to close the gap between basic salaries and the cost of living. The prediction…

Pay stutters as UK companies peg wage increases to inflation

British companies will increase salaries at a rate marginally above inflation in 2012, a new survey by Towers Watson Data Services has found. The latest Salary Budget Planning Report for Europe, the Middle East and Africa found that salaries for UK employees were predicted to increase by 3%, against a prevailing inflation increase of 2.9%.…