The new year brings a new round of pay reviews and negotiations. If you are carrying out a pay review over the next few months, there are plenty of resources on XpertHR for research and planning, such as our reviews of pay patterns by sector over the past year or the outlook for the economy in 2008.
The latest forecasts compiled by IRS suggest that headline inflation will follow a firmly downward path over the coming year, averaging 3.6% over the first quarter of the year and falling to 2.6% by the final quarter. While analysts are predicting steady earnings growth over 2008, our survey of employers' views on pay prospects in 2008 suggests that employers expect
pay rises to remain on the high side this year.
This issue features a case study on the reward offering at Aspire Housing, a West Midlands housing association that has introduced a new job evaluation scheme, reward strategy and total reward statements. Aspire's HR manager, Nina Zissler, reports that the job evaluation process has given staff a clearer route for progression as well as making the pay structure more equitable and transparent.
In our regular pay reports section, we take a look at the latest pay awards received by sales staff at chocolate retailer Thorntons, support staff working in sixth-form colleges, and managers at Network Rail, who secured an above-inflation pay rise of 4.8% last year.
This is the last newsletter from me, as we welcome back Sheila Attwood as Pay and Benefits Bulletin editor. Best wishes from me for 2008!
|
