An interesting article in the Recruiter predicts that UK pay will rise by 3% next year
UK companies are anticipating employee base pay rises of 3% in 2012, while companies across Western European are predicting pay rises averaging 2.7%, according to Mercer’s latest pan-European pay data.
The data comes from the September edition of Mercer’s Total Quarterly Pulse Survey, which analyses the pay plans of 329 multinational organisations operating across 69 countries in Europe, the Middle East and Africa. The survey provides information from multinationals on median base pay increases across all employee groups including ‘blue’ and ‘white collar’ workers up to management level.
According to Mercer, 2012 salary increases in fast-moving consumer goods (FMCG), durable, hi-tech, non-durable and services are forecast to be in line with the general market while, on average, forecasted salary increases are typically higher in the finance/banking and energy sectors.
The latest data suggests that base pay increases are largely being equally applied across all employee groups. Mark Quinn, principal at Mercer, says: “While restraint is painful for everyone in the short term, it is also prudent, and if it ensures the survival of the company it is in the longer term interests of employer and employee.”