With increasing uncertainty over the outcome of Brexit, and a general election thrown into the mix to muddy the waters further, uncertainty in the economy remains as high as ever and predictions about the future of the economy still need strong caveats.
However, life goes on and we need to make decisions about salary awards. Make them too high and there’s a risk you might cost yourself out of business, but too low and you risk losing valuable staff. Whilst we know that staff motivation isn’t all about salaries, you certainly risk demoralizing and demotivating people by not paying them fairly. It triggers employees, even the most engaged ones, to start looking elsewhere.
Here is our end of October 2019 renumerations trends report and a proposed suggestion of a cost of living salary increase, usually applied to all staff.