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Pay Guidance for Employers on Private Sector Pay in 2021
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Before the pandemic hit, the ‘run rate’ for private sector pay was running at c 2.5% per annum, many for up to 3 years, with a small number of agreements at even higher levels based on business performance and market outlook.
However over 2020, for many employers, pay was off the agenda, especially for those reliant on the domestic economy.
As we now look towards the prospect of brighter times ahead and against the current background, it is now relevant to ask what will be the impact on private sector pay in 2021 as we emerge from the grip of the pandemic?
In this episode of the Stratis Insights Podcast Brendan McGinty, Managing Partner, Stratis Consulting takes stock of where we are now and issues guidance to employers when it comes to private sector pay.
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