Many employers have told us they are planning lower pay awards in 2025 in comparison to the pay award they made in 2024. However, while inflation has fallen since last year, and labour markets are easing somewhat, the prices of many key items such as food, as well as mortgages and rents, remain higher than before the pandemic. This means that the cost of living continues to present something of an upward pressure on pay awards, alongside labour market issues.
On the other hand, the coming increase in the rate of employers' National Insurance contributions and the reduction in the earnings threshold for such payments, as announced in the Budget, present pressures in the opposite direction.
This poll is designed to capture a snapshot of the pay landscape with views from both organisations that have agreed their 2025 pay rise and those that have yet to decide the level of this year’s award.
All participants will receive a summary of the results, which will provide insights into pay trends for 2025. Taking part will help you benchmark your plans against those of other major UK employers and help you make better decisions on pay in an uncertain climate.
The poll will be open until 5pm on Monday 10 March 2025.
Zoe Woolacott
Senior Researcher
zoewoolacott@incomesdataresearch.com
01702 669549
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