Against a backdrop of economic uncertainty, a tight labour market and a rapid jump in living costs, our latest survey report looks at the main influences driving pay rises. While inflation and the cost of living had the most impact on pay decisions in 2023, this trend looks set to continue throughout 2024, with 44% of our respondents still feeling unable to predict when employee pay might recover from the recent inflationary spike. We look at what impact the cost-of-living crisis has had on ‘real’ wages, and how employers can help with the financial wellbeing of their employees.

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