Data published in an analysis of pay settlements recorded by IDSPay.co.uk shows that the majority of employers continue to award pay increases of between two and three per cent.
The median pay settlement in the three months to the end of September was two per cent, broadly in line with the latest average earnings figures on regular pay growth, while the proportion of pay freezes remains relatively low, the report shows.
Ken Mulkearn, editor of the IDS Pay Report, commented: "The level of settlements reflects the broad recovery in profitability, and higher inflation to some extent as well. If these indicators remain on track, in 2011 we might see three per cent emerge as the central figure for pay budgets."
Recently, Steve Huxham, chairman of the Recruitment Society, suggested that small firms in the sales recruitment sector and other industries are unlikely to reduce their headcount in the coming months.
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Posted by John Oak and Wayne Bly
Source: The Sales Director News