Basic consolidated pay rises are not the only way in which employers have tried to meet their employees’ expectations in the latest period. Some are adopting a variety of remuneration responses to tackle recruitment and retention pressures and support their staff with the higher cost of living. Last year we observed non-standard pay approaches grow in popularity across the economy and these have continued into 2023. The main approaches we have monitored are one-off payments, additional or interim pay rises and consolidated flat-rate amounts. Instances of planned pay rises being brought forward have also occurred, although to a lesser extent than some of the other approaches. We explore examples of these approaches below, alongside a brief explanation of each.
