Our survey was conducted at a time when inflation had risen to its highest rate in over three decades. The increase in the cost of living had slashed the purchasing power of employees’ wages and forced many employers into raising pay by percentage amounts that they would never otherwise have contemplated.

While the rate of inflation has since come down, prices are still rising, albeit less sharply than before, and therefore for many – especially lower-paid – workers, the cost-of-living crisis continues.

Download Pay, Performance and Transparency 2024 Whitepaper