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Pay awards hit highest level since 2008

Employee Benefits

The benchmarking and compliance specialist analysed 101 salary settlements that became effective in the three months to the end of January this year, covering more than 170,000 employees. It found the sharpest rate of increase in pay since December 2008 and a significant jump from a median award of 2% in the rolling quarter to December 2021.

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Employers to Offer Record Pay Rises in 2023

HR Digest

According to the latest Salary Budget Planning Report by consulting firm Willis Towers Watson (WTW), companies are planning record pay rises for the next year. While most companies give a 3% raise on employee salaries , they are putting aside budgets to give a raise of 4.1%, a record high since the Great Recession of 2008.

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Lovewell’s logic: Will the removal of the bankers bonus cap drive change in remuneration structures?

Employee Benefits

Is it better to pay a reasonable basic salary and place a cap on bonus payments, or to pay a lower fixed wage with the scope to earn a much larger bonus payout? The cap, which was introduced in 2014, was intended to curb excessive risk taking in the financial services industry following the financial crash of 2008.

Bonuses 105
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How To Determine Your Employees’ Salaries

Hppy

And in the midst of this, the murmurings of hyper-inflation are driving wages and salaries upwards at record rates! In this post, we will look at a few ways in which employers can make sense of this new world. Following the banking crisis of 2008, global wages entered a prolonged period of real term stagnation. We will be frank.

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Average pay growth high but failing to keep pace with inflation

Employee Benefits

Greg Guilford, CEO of HR Solutions, part of WorkNest, said: “It’s positive to see that employers are minimising the impact of the cost of living crisis on employees; however, there is still a gap between the rising costs and employees’ salaries.

Bonuses 105
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Chesterfield Council staff strike over pay

Employee Benefits

According to the workers, who are responsible for maintaining and repairing Chesterfield’s Council housing stock, they were transferred from being paid via a combination of a basic wage and on piece work to a salary scheme during the Covid-19 pandemic.

Salary 59
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Adrian Crawford: Bankers’ bonuses uncapped

Employee Benefits

First introduced by the European Union in 2014 in response to the 2008 financial crisis, the cap limited bonuses to twice employees’ basic salary. Yet it was unpopular with both the UK financial regulator on the one hand, and employer banks and ambitious bankers on the other.

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