Pay Freeze Continues For Company Formation

You cannot fail to have noticed the drop in temperature over the past couple of days. However, if the findings of a recent report are to be believed, it is not only the weather that is freezing.
According to a report conducted by the Institute of Management and Professional Development, since the recession began, just 50% of all employees in the UK have received a salary increase. Yet, of all of those asked, over 60% admit to working longer hours in an attempt to keep their jobs.

However, the report also found that those people who received a pay increase were satisfied with the amount.

James Havard, small business advisor to the IMPD comments; “Employers need to appreciate the amount of strain their team has been under in the last year; not only have they had to deal with the threat of redundancy they are also the subject of outside economic pressures as well. While many employees have accepted pay freezes as an unfortunate consequence of the recession, business owners must appreciate their cooperation and ensure that once the recession is over, payment structures return to normal.”