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Starting salary inflation dips to 18-month low

Although sharp overall, pay awarded to new permanent joiners increased at the slowest rate for a year-and-a-half, according to data.

The latest KPMG and Recruitment and Employment Confederation’s (REC), UK Report on Jobs October 2022 survey, revealed a “softening” of pay pressures during October.

The data, compiled by S&P Global on 400 UK recruitment and employment consultancies, found at the same time, temp wage inflation slipped to its lowest since May 2021, which recruiters say was because of the cost of living and competition for staff.

HR consultant Gemma Bullivant said that while monetary pay is never significant enough on its own to “motivate, engage or drive high performance” in the workforce, employers shouldn’t rely on other total reward solutions alone.

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