Pay frozen for workforce
Dec 11 2009
Pay freeze for workers
Only half of UK workers have received a pay increases since last year, according to the Chartered Institute of Personnel and Development (CIPD).
But of those who have seen a pay increase, twice as many are satisfied with the amount awarded compared to last year.
Charles Cotton, reward adviser at the CIPD, says: ‘It’s good to see that pay rises are being more appreciated by employees, especially under the current economic climate.
‘Employers in the private sector will be relieved to see that their employees are understanding of the economic realities they face. Even pay freezes have not so far resulted in high levels of employee dissatisfaction.’
According to the survey, two-thirds of those who have found a new job after being made redundant since the recession are on average earning 25 per cent less.
However, research from consultancy firm Croner suggests that employers need to motivate staff for 2010, as a third of workers are feeling more negative about their job prospects than a year ago.
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