Despite regular pay experiencing the “strongest growth rate” seen outside of the pandemic, it still can’t catch up to inflation, official data shows.
The Office for National Statistics’s latest Labour market overview revealed that growth in average total pay among employees reached 5.9 per cent (including bonuses) and 6.7 per cent, excluding bonuses, in October to December 2022.
Gemma Bullivant, independent HR consultant, reminded employers that, ultimately, “clearly articulated, compelling career pathways to engage and inspire colleagues, supported by target L&D to help accelerate their growth and integrated pay structures to reward fairly as they progress, can attract, retain and grow exceptional talent”.
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