As the UK emerges from the recession, there have been suggestions businesses may take time to recover, however, a recent survey from the Chartered Institute of Personnel and Development (CIPD) paints a brighter picture.
The poll revealed that there was general optimism about the economy for the year ahead, with expectations of growth.
Indeed, the majority of respondents have announced they are likely to spend less time cost cutting this year than in 2009, with 52 per cent set to focus on ensuring rewards are aligned with business strategy.
Meanwhile, 53 per cent of those surveyed predicted their salary spend would grow this year, while 21 per cent said it would not alter from 2009.
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Charles Cotton, reward adviser for the CIPD, said: “The rise in the number of employers increasing the pay award differentiation confirms that employers want to ensure that whatever profits they reap in 2010, a better proportion should go to those who have added the most value.”
However, Tony Dolphin, senior economist for the Institute for Public Policy Research, recently claimed in order to see economic growth, businesses needed to regain some confidence.
