Research carried out by Xpert HR shows that pay awards so far in 2012 stand at a median 2.6 per cent, which demonstrates that awards are "are holding up well", the analysts states.
The current 2.6 per cent median compares with a two per cent median award seen during 2011 as a whole, while half of all pay awards are currently worth between two and three per cent.
Overall, pay awards based on performance continue to offer the potential for higher totals, with the median paybill budget increase being three per cent for performance-based awards.
Xpert HR Pay and Benefits editor Sheila Attwood commented: "Private-sector pay awards are expected to retain their current level around 2.6 per cent over the next couple of months."
A survey carried out by YouGov on behalf of Croner showed that 81 per cent of workers believe an organisation which provides an attractive pay and benefits package would make them likely to apply for a new job.
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Posted by Nikki Barrister
Source: The Sales Executive News