Independent research company, Incomes Data Services have today released their latest IDS Report on pay in the UK for the quarter July to October 2000.
Most pay recent pay awards are in the 3 to 4 per cent range. However, a slightly higher proportion of settlements are being recorded at or above 4 per cent – these make up about a quarter of all recent deals.
The research shows that pay reviews taking effect from July onwards have mostly provided pay rises in the 3 to 4 per cent range. Of those taking effect in September and October, about half are at or above 3.5 per cent. The higher annual inflation rate of 3.3 per cent is tending to lead to higher increases being paid under inflation-linked formulas where organisations have long-term deals.
