Pay rise expectations ‘’still in place despite credit crunch cuts”
Housing associations are still looking to offer pay rises to their workers as the financial crisis rumbles on.
In an email survey carried out by accountancy firm Smith & Williamson, the average predicted pay rise for those with jobs in housing stands at 2.6 per cent, with the median expected increase at 2.5 per cent.
Of the 90 housing associations which replied to the study responses from pay rises ranged from not offering a pay increase at all to an expected increase of 5.5 per cent.
However, it appears the economic downturn is set to affect those Britons with housing jobs, as the typical predicted pay increase had stood at 3.8 per cent in November 2008.
Rachel Stone, partner at Smith & Williamson, pointed out that although the firm’’s housing association executive reward 2008-09 survey had invited housing associations to give their views on their pay review processes for 2009, since the data was collected before the economic downturn took place, it was felt necessary to ask questions about pay again as "their pay expectations for 2009 were likely to have been reviewed and their plans re-shaped".
A previous study by the firm showed that just over a fifth of housing associations questioned have a bonus scheme applicable to all members of their staff.
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