Salary spend to increase
Feb 24 2010
pay cheques
Half of businesses predict the money they spend on wages will increase this year, with only 15 per cent saying it will decrease, according to the Chartered Institute for Personnel and Development (CIPD).
The research finds that public sector employers are more likely to expect a decrease in their salary pay bill (18 per cent) than those in the private service sector (13 per cent).
Charles Cotton, reward adviser at the CIPD, says: ‘Employers seem more confident about the economic outlook in the months ahead and have refocused their thinking with that in mind. Many will be going back to the drawing board to revisit their reward strategies in the wake of the recession and may be keen to link pay more with performance.’
Of the 800 employers surveyed, 41 per cent now have recognition schemes such as employee of the month, up from 31 per cent last year.
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