To help employers with their 2020 and 2021 pay rounds, XpertHR is hosting a 45-minute Pay and Economy Trends webinar and Q&A session where they will review the key trends in the UK economy and cover pay awards, inflation rates and other important factors.
The COVID-19 pandemic has thrown the 2020 pay round into confusion and the UK economy into hibernation. The webinar will cover the economic issues affecting pay, as well as the latest thinking on the impact of the pandemic and the outlook for the future.
The webinar will be hosted by Sheila Attwood, XpertHR’s managing editor for pay and HR practice, who is an expert on company pay awards, and Ed Cronin, research manager in charge of XpertHR’s employee reward, gender pay gap and data science activities.
Recent figures show that almost 100,000 private sector workers so far have suffered pandemic pay freezes, while public sector staff including doctors, teachers and police have seen big pay rises in recognition of their contribution during the pandemic[i].
XpertHR research[ii] highlights that almost half of pay awards are lower than in the previous year and pay freezes account for one in five pay settlements in the private sector. The number of organisations pausing or deferring pay awards that were due to take place in the spring also continues to rise.
Sheila Attwood, XpertHR’s managing editor, pay and HR practice, says: “The impact of the coronavirus pandemic on private-sector pay budgets is now very much apparent, with pay rises deferred and freezes confirmed across the sector.
“While already unable to afford pay rises this year, many organisations now also face the prospect of contributing towards the wage costs of furloughed workers. For some employers this will be a concern, especially because of the unknown nature of any economic upturn.
“This must attend webinar will run through some of the key considerations for employers when it comes to pay and where the UK currently stands economically. We encourage organisations to sign up now, and to put forward their questions to our experts.”
The webinar is an extension of the ongoing economic commentary that XpertHR publishes. The Economy section includes key resources around employment, inflation and recruitment. There are also tools for pay specialists including salary surveys and benchmarking.
XpertHR also has more than 150 COVID-19 resources that cover legal compliance and practical measures that HR managers can take in response to the outbreak.
To sign up for the Pay and Economy trends webinar on 6th August 2020 at 11am click here.
For more information on XpertHR visit: www.xperthr.co.uk