TITLE

Firms prefer merit-based pay to yearly rises for all

AUTHOR(S)
Phillips, Lucy
PUB. DATE
January 2008
SOURCE
People Management;1/24/2008, Vol. 14 Issue 2, p11
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article focuses on the decline in traditional annual pay rises, according to a research by the Chartered Institute of Personnel and Development. Almost half of organisations no longer award employees an across-the-board annual rise or cost-of-living adjustment, the Reward management 2008 survey has revealed. Manufacturing, production and private-sector firms were the least likely to provide such a pay rise. An increasingly popular alternative is to allocate pay budgets to departmental heads to distribute among staff based on their contribution.
ACCESSION #
29415842

 

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