Pay Awards & Forecasts (November 2016)

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, they provide the latest findings for pay trends, forecasts, settlements, and more. Figures collected by Croner Reward reveal an extremely positive month for November 2016, most notably marking the lowest reported pay freeze on record for the last few years. Clare Parkinson, Head of Reward at Croner, says, “The steep decrease of companies reporting a pay freeze over the last year is extremely positive for employers. “The fact that less companies are feeling the need to implement a pay freeze shows that the jobs market and economy may be bouncing back after a tough hangover left by the recession years ago. “Job, pay and economic prospects are particularly positive based on the latest report, and the figures are extremely timely as we can begin the New Year on a positive note. We can only hope that this trend continues.” The expert guide also features average forecasts for the next 12 months, including and excluding a pay freeze; average settlement figures; comparisons with previous months’ figures; summaries and highlights; and listed sectors the figures are also available for. Croner Reward can help you with any aspect of pay and benefit management and practice in your business; no matter what size of organisation you have, including Gender Pay Reporting. We operate UK wide so we can help your company and staff develop. To contact us with any queries, please call 0800 032 4088.