Wages have grown at the fastest rate in more than 20 years
Matthew, Owner of Consensus HR comments: “With the war in Ukraine, Inflation at an all-time high and the Pandemic, it is great to see that business are ensuring that wages are increasing at their fastest rate in more than 20 years. Salary reviews should take place at least once a year with your teams with them knowing that a salary review does not necessarily mean a pay increase but the opportunity to discuss your current salary and why / why not you should receive an increase.”
NEWS ARTICLE : Wages have grown at the fastest rate in more than 20 years
Wages have grown at the fastest rate in more than 20 years, but are still failing to keep up with rising prices.
Average pay, including and excluding bonuses, rose by 6.4% between September and November compared to the same time last year, official figures show.
It is the fastest growth since 2001, excluding the pandemic, when people got big pay rises after returning to work.
When adjusted for rising prices, wages fell 2.6%, with the gap between public and private sector pay near a record.
We offer HR & Payroll that provides clients with a comprehensive yet flexible outsourced HR & payroll service tailored to each of your specific requirements. We pride ourselves on delivering an efficient, friendly and affordable service and fully understand the needs of sole traders as well as small and medium sized companies. We help you with the complexities of managing people, whilst preventing people problems. Why give yourself unnecessary worry and stress when we can look after your HR & payroll for you? By outsourcing your HR & payroll to Consensus HR you can concentrate on running your company and be confident that your company’s & employees HR & Payroll is being managed efficiently and compliant with current legislation.
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