YES, it’s that time of the year again where pay in on the agenda as companies try and work out how much of an increase they give to their staff. In 2010/11 pay reviews were of the order of 3% in the OECD countries but rather better in the rest of the world; in South America we saw reviews worth 5-7%, 4-5% in Africa, 9% in South Asia and 5-6% in the Far East. Very few companies froze salaries, compared to 14% in 2010 and 37% in 2009.
Spinnaker and the Maritime HR Forum are currently collating data on 2012 pay reviews. If you would like an update on what the market’s planning, drop us a line (to [email protected]) with a note of your anticipated pay review budget and plans so far and we’ll send you our findings.