Workers expecting wage cuts this year
Thursday, 5 July 2012
Many workers are anticipating a pay cut this year because there is little possibility of a wage increase above inflation, research shows.
The 2012 Global Pay Optimism Index discovered that 70 per cent of British staff do not expect a rise above inflation, while nearly a third (28.5 per cent) believe that the recession has led to them staying in their position longer than they wished, according to a study by NorthgateArinso.
Alex Kemp from NorthgateArinso said: "For 2012, pay optimism is centred around Asia Pacific with the 'realists' in the UK as well as the wider Eurozone having low expectations."
Mr Kemp went on to say that, due to businesses being stretched to provide pay rises, business leaders should ask about other ways that they can make their talent feel valued.
Employee benefits could be one way to do this, as particular perks can help staff to be recognised for their efforts and feel rewarded.
