Pay Rises will be Overtaken by Rising Inflation - 8th Dec 2009 2:06pm
Warning that pay rises next year will be overtaken by rising inflation
PAY rises will average 1.6% next year, lagging behind inflation, says global management consultancy Hay Group.
It predicts private sector pay rises will be 2% and 1% for public sector staff, leaving workers worse off in 2010 as inflationary pressures boost the cost of living.
A separate Hay Group report also reveals that workforce engagement has been hit during the recession and that a ‘talent exodus’ looms as large numbers of staff look to move on from their current employer as the recession eases.
THE ECHO
PAY rises will average 1.6% next year, lagging behind inflation, says global management consultancy Hay Group.
It predicts private sector pay rises will be 2% and 1% for public sector staff, leaving workers worse off in 2010 as inflationary pressures boost the cost of living.
A separate Hay Group report also reveals that workforce engagement has been hit during the recession and that a ‘talent exodus’ looms as large numbers of staff look to move on from their current employer as the recession eases.
THE ECHO