Will your staff need a pay rise this year?
Record rates of inflation and a spiraling cost of living mean employees are feeling the squeeze—but HR can help without the need for wage hikes.
As HR teams returned to their (mostly virtual) desks after the festive break in January, any residual feelings of relaxation evaporated immediately. They were rushing to cover Omicron-related absences, desperately ramping up recruitment to deal with skills shortages and the threat of the ‘Great Resignation’ and wondering whether the next government announcement could be the one that pushed their stress levels over the edge. But there’s another spectre at the table, and one that could have even longer-term impacts on HR strategy—high and rising inflation.