Pay Awards & Forecasts (February 2017)

blog-publish-date 08 August 2018

Croner Reward has been advising businesses on reward and benefits for over 40 years; providing research, information and bespoke advice for more than a generation of HR and Payroll professionals.

Every month, we provide the latest findings for pay trends, forecasts, settlements, and more. Figures collected by Croner Reward reveal the following for February 2017:

  • The average forecast for the next quarter, excluding pay freeze, remains the same as the previous two months at 2.3%; maintaining a consistent trend
  • Including pay freeze, the average settlement for the year is now 2.3%, which has increased by 0.1% from last month. This is the highest entry since April 2016
  • While the average percentage of companies reporting a pay freeze has increased slightly from 4.7% to 4.9%, the figure still illustrates encouraging activity for pay and reward