>> increases are focussed on the start rates for the grade.
>>
That's happening across the finance industry. Many large employers have given a flat £ value increase rather than a percentage increase, meaning those at the bottom of the scale get a much better percentage increase. My employer's lower paid staff got inflation busting pay-rises. Higher paid staff got real terms pay cuts.
Whilst I cannot begrudge the pay-rises to those that really need it, the consequences are that those with significant service get very low percentage increases and therefore receive a real terms pay cut and these serve to flatten differentials between the top and bottom of the scale, suggesting that experience is now worth less from a corporate viewpoint but managers still expect more experienced staff to take on more responsibility.
When there is hardly any difference between the top and the bottom of the scale, one has to wonder, why bother.
Last edited by: zippy on Tue 2 Aug 22 at 21:53
|