Last year saw more pay cuts and freezes than in any year since the financial crisis began in 2008, according to the Chartered Institute of Personnel and Development (CIPD). And while economic growth is vital this year, subdued pay rises and freezes are likely to be inevitable in order to make this happen.
If you are facing these options, it is imperative that you keep communication between you and your employees open. Make sure that they understand the reasons for pay freezes, and the realities of what the business needs to achieve to enable pay increases.
Keeping your employees motivated and productive has never been more important, and communication is key to this.
We can help you to do this, please contact us to find out more.