Payrise in 2025?

MattMattMattUK

I gave my employees a blanket rise of 5% in January, with that being it unless we have a very exceptional year. Accounting for both the rise in NI and the increase in Employment Allowance the increase the cost the business about  £5.2k which I can live, it is a lot more important to retain good staff as they cost a lot more to replace than retain and there is a huge disruption to the business in losing someone valuable. 

I also know people in minimum wage easily replaceable roles, they are getting the base increase in NLW and that is it, other sectors where the business is really struggling have been told no pay rises at all this year. The economic climate is gloomy and downbeat, the NI increases have made things worse and the global trade uncertainty is sucking away what little light there might have been. 2025 and 2026 will likely be a period to knuckle down and steady the ship, I do not think that many if any sectors are going to tolerate demands for large pay increases. 

Plasticman

2.5% last year - probably very little this year. My pay is now noticeably slipping behind some of my peers who work elsewhere but I only have two years before retirement comes along and I'm very happy in my job so I've no plans to move.