Adecco and the Chartered Institute of Personnel and Development (CIPD) are reporting that wage growth over the next year is set to be the slowest for the past three and a half years.
Based on a survey of over 1,000 companies by Adecco and CIPD, it was found that employers are planning to raise staff pay by an average of just 1%. Read more at Business Insider.
Katherine Chapman, Director, Living Wage Foundation says:
"Today's survey findings paint a bleak picture for low paid workers in the UK with living standards set to decline further due to inflation and weak pay growth. However, over 3000 forward thinking employers in the UK are already taking action by paying their staff a real Living Wage, based on the cost of living. As well as ensuring security for employees, over 93% of Living Wage employers report benefits to the business including better recruitment, retention and staff motivation."