Some experts suggest flexible working as the solution, while others ask why salary increases are not forthcoming when profits are high
A quarter (25 per cent) of businesses say they cannot continue to raise pay because of instability, new research has revealed.
The data analysis from Robert Half found that the majority (70 per cent) of employers recognised their employees were struggling to manage increasing costs and could seek higher wages elsewhere, but only a quarter (26 per cent) could commit to permanently raising pay.
Additionally, a quarter (25 per cent) also believed poor pay and heavy workloads would affect their ability to retain valued employees.
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Vickie Graham, business development director at the Chartered Institute of Payroll Professionals (CIPP), said it was only natural for employees to look at their take-home pay when the economy bites, but that it was not always “feasible” for businesses to increase wages. "The CIPP recommends that employers look to other incentives to attract and retain talent,” said Graham, adding that flexible working was currently “among the most valued benefits offered, especially if it provides employees the ability to work around childcare arrangements and/or second jobs to help boost income”.
The data also highlighted that a third (33 per cent) of firms were currently extending...
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