Pay freeze thaws: Too little, too late?

Posted on Wednesday, April 14th, 2010 by

Great news for those in search of a pay rise! The latest employment study* has found that a quarter (24%) of those employers that instigated pay freezes during the recession have now lifted them, whilst nearly a third (31%) of employers have also lifted recruitment freezes, too. However, the study also suggests that despite employers taking the brakes off their pay and recruitment freezes it may be a case of too little, too late with 44% of those surveyed feeling their career has stagnated with a current employer and 18% (a rise of 11% on this time last year) actively looking for a new job now. The survey is supported by the latest figures by Incomes Data Services which showed that firms pushing through pay freezes fell 3% under the impact of higher inflation and a recovery in output.