UK employers plan a 3% pay rise, the smallest in two years, according to a CIPD survey.
UK employers plan the smallest pay rise in two years at 3%, according to a CIPD survey, down from the previously expected 4%. This aligns with the Bank of England's aim to see pay growth return to normal levels. Businesses intend to raise pay by 4.1%, with the lowest planned increases in two years, which may not alleviate financial strain for workers. CIPD economist James Cockett suggests additional benefits to support staff during challenging times.
August 12, 2024
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