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Annual pay growth for May to July 2023 rises by 7.8%

Employee Benefits

Annual pay growth , excluding bonuses, from May to July 2023 was 7.8%, according to data from the Office for National Statistics (ONS). Its latest labour market figures revealed that this was the same as the previous quarter, the highest regular annual growth rate since comparable records began in 2001, and in line with market expectations.

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Average pay growth high but failing to keep pace with inflation

Employee Benefits

Growth in total pay , including bonuses, was 5.9% in the final quarter of 2022, while pay growth excluding bonuses was 6.7%, according to the latest labour market data from the Office of National Statistics (ONS). For pay excluding bonuses, this was the highest growth rate seen outside of the Covid-19 pandemic. on average.

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Performance Appraisal & Rewards in Response to COVID-19

HR Digest

And the lessons from most recent events in the last 20 years like the relatively mild swine flu (H1N1) in 2009, the dot-com bubble of 2001, and the 2008-09 Great Recession, are nowhere near suitable to withstand the social and economic impacts of the COVID-19 pandemic. Spanish flu). A Sustainable Reset: Key Stages of Action.

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How to bridge the generation gap in the workplace

Insperity

For example, a Baby Boomer on the precipice of retirement may be driven more by money: Salary increases, 401(k) contributions or bonuses. More resistant to authority based on title or age alone – respect must be earned and based on the quality of contributions. Willingness to openly share ideas.

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Shaping Performance & Rewards in Response to COVID-19

HR Digest

And the lessons from most recent events in the last 20 years like the relatively mild swine flu (H1N1) in 2009, the dot-com bubble of 2001, and the 2008-09 Great Recession, are nowhere near suitable to withstand the social and economic impacts of the COVID-19 pandemic. Spanish flu). A Sustainable Reset: Key Stages of Action.

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Ultimate HR Calendar 2023: Key Dates (+How To Celebrate Them)

Vantage Circle

Send a detailed notice on how salary ranges are calculated across the company (exact numbers are not required) and allow your employees to ask any questions they may have regarding it. Pay homage with flowers in the workplace to the ones who lost their lives in the September 11, 2001 attacks. Patrick's Day: March 17, 2023, Friday.

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Workers’ Compensation: What’s payroll got to do with it?

Workers' Compensation Perspectives

Common terms include wages, salaries, benefits, fringe benefit, and remuneration or earnings—often used interchangeably—but they are all referring to the same thing: money paid by the employer to a worker or on behalf of a worker as part of compensation for labour/work performed. Wages and salaries cost employers $25.22