Greater Peterborough Salary Survey predicts cautious pay increases in 2017

The results of our much-anticipated Greater Peterborough Salary Survey are in and they make for interesting reading for local HR professionals and employers…

Headlining the results, the survey revealed that local organisations are planning cautious pay increases in 2017 that could be less than the expected inflation rate.

paydataCautious pay reviews in 2017

Data from the salary survey, produced in partnership with Paydata, shows the vast majority of organisations surveyed predict pay to increase by 2 per cent in 2017.

Tim Kellett, director at Paydata, explains: “Although a predicted 2 per cent pay increase initially looks positive, the national and local data we collect throughout the year indicates a half a per cent drop in predictions from the same time last year.

“This is the first time we have seen a drop in at least five years.

“As a result, we’re expecting the majority of 2017 pay reviews to be around 2 per cent, within a range of 1.5 to 2.5 per cent. That’s around the same or as much as 0.5 per cent less than the expected 2017 inflation rate of approximately 2 per cent.”

This year’s survey analysed base pay trends and benefits provision at 24 local organisations, which employ some 5,000 people in Greater Peterborough.

An average pay increase of nearly 4 per cent for some

Delving deeper into the results, there were positives for specific groups of local workers.

Tim explains: “Companies who participated in the 2015 and 2016 surveys on average increased salaries year-on-year by 2 per cent, which is in line with national data. However, locally, some fields of employment saw an average increase of nearly 4 per cent.”

The Greater Peterborough Salary Survey shows pay for stores, warehouse and production workers increased on average by 3.9 per cent over the 12 month period.

Tim adds: “This is likely to be influenced by the National Living Wage which is levelling salaries across a wider range of jobs in different sectors. Employers are having to be more competitive with salaries to secure staff in stores, warehouse and production roles.”

anne corderAnne Corder, owner of Lynch Wood based Anne Corder Recruitment, further explains: “The results of this year’s survey reflect what we’ve seen in the local recruitment market. Remuneration packages have remained competitive in 2016 but particularly so for shift-based work in warehouses and similar.

“Once again our annual salary survey with Paydata has revealed information highly relevant to local employers, helping them to retain and attract staff.”

Make sure you explore the results of the survey further: download a summary report of the core data here.

Don’t forget…

Participants of the survey receive access to a comprehensive break down of salaries for different job roles.

If you would like to find out more about taking part in the 2017 Salary Survey to gain exclusive access to the full data call us on on 01733 235 298 or email info@annecorder.co.uk