Money talks

Bosses offering 3% pay rise may still lose staff

Call us: 01462 481005

UK employers are hopeful of awarding staff their highest pay rises in over a decade this year

This wage hike of three per cent is the latest effort to increase employee retention during the ‘Great Resignation’

Yet, why are some experts warning that this pay increase might not be enough to keep hold of staff? And what can bosses do to negate this?

British firms are expecting to hand their workforces an average pay rise of three per cent this year, The Guardian has reported.

Such an increase would mark the highest average pay rise in at least a decade, as companies continue the battle to retain staff and recruit new talent, at a time of record job vacancies and an increasingly candidate-driven market in which jobseekers can afford to be pickier than ever before when it comes to deciding which company to join.

Click here to find out more