AFTER two years of gloom and doom on the pay rise front with plenty of restraint on the part of employers, employee expectations are once again on the increase according to one HR director we know.
There is, however, still a degree of realism out there, what with fears of a double-dip recession and the backlash of over-ordering by the shipping industry during the good times. The global industry average was 4.2% in 2008, 1.9% in 2009, and 2.5% this year. Projections suggest early 2011 will see average pay reviews of 2.7-3.2%.
If you go back 18 months, 40% of shipping companies we polled were freezing salaries, which tallied precisely with non-shipping employers. That figure has dropped to 13% this year while the projection for 2011 is 4%.
