23/02/2010 - Workers 'will reap rewards in 2010'
More than half of employers have revealed they are planning pay rises this year as UK firms look ahead to 2010 with renewed zeal following a tough 2009.
According to the Chartered Institute of Personnel and Development (CIPD), only 15% of employers were planning to cut pay during the next 12 months, with a shift in business focus towards rewarding hard working employees rather than resorting to cost-cutting measures such as staff redundancies.
Private sector workers are also expected to benefit more from the buoyant outlook than those in the public sector where employers were more likely to be cutting pay over the next year, the survey found.
Charles Cotton of the CIPD said: "The survey results show a distinct shift in the approach to reward. Employers seem more confident about the economic outlook in the months ahead and have refocused their thinking with that in mind.
"Many will be going back to the drawing board to revisit their reward strategies in the wake of the recession and may be keen to link pay more with performance.
"The rise in the number of employers increasing the pay award differentiation confirms that employers want to ensure that whatever profits they reap in 2010, a better proportion should go to those who have added the most value."
Copyright © Press Association 2010
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