Two-thirds (64 per cent) of UK businesses say more employees are asking for pay rises, research has found.
The research by Applaud, which conducted interviews with 250 decision-makers at small, medium and large businesses, found that 67 per cent saw their employees voicing concerns about the upcoming recession. Half (50 per cent) of businesses were also experiencing a higher staff turnover than usual.
It comes after the UK real living wage – the rate of pay set by the Living Wage Foundation and which employers voluntarily sign up to – increased by 10.1 per cent last week, the largest yearly increase since calculations began 11 years ago.
Last Thursday’s pay boost, which will impact almost 400,000 employees at more than 11,000 employers, meant that those working full time on the real living wage stood to earn 2,730 more per year than those on the national living wage, which is set by the government.
Separate research from think tank Autonomy suggested that introducing a four-day week could help to alleviate some of the pressures brought on by the cost of living crisis. It found that a parent of two children working a four-day, 32-hour week could save 3,232.40 on average per year, or 269.36 per month.
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Nye Cominetti, senior...
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