are increasingly hiring new workers from other firms, although job-to-job flows remain below pre-recession levels, which may explain why fewer than one in five are raising salaries to respond to recruitment difficulties. Additionally, average earnings may be boosted by the compositional effects of the labour market over the past year, especially the million extra people working full-time compared with an increase of around 100,000 in the number of people working part-time.
Read the CIPD’s Labour Market Outlook full report.
Average employee bonus payments down year on year 1 September 2015
ONS statistics from the Average Weekly Earnings report shows that the average bonus received per employee is down 0.2% on the last year at just over £1,500.
During the financial year ending 2015 (April 2014 to March 2015), the whole economy average bonus per employee was just over £1,500, 0.2% lower than the previous year.
The average bonus per employee in the finance and insurance industry in the financial year ending 2015 was £13,100. This was a decrease of £800 compared with the average bonus received by financial sector workers in the financial year ending 2014. This decrease is largely because the financial year ending 2014 had 2 bonus periods, April 2013 and December to March 2014, so total bonus payments were higher that year. Mining and quarrying (including oil extraction and exploration) was the industry with the second highest average bonus, with an average bonus per employee of £6,900, although this was a decrease of £200 compared with the average bonus per employee received in the financial year ending 2014. The lowest bonuses per employee were paid in the health and social work industry, where the bonuses per head figures were close to zero. The average private sector employee received just over £1,800 in bonuses, whereas the average public sector worker’s bonus was just over £100. However, private sector workers are on average in receipt of lower regular pay than people working in the public sector, and bonuses are a more significant part of total pay in the private sector. If financial services are removed from the public sector, the average public sector worker’s bonus falls to below £100 in the year to March 2015.
You can read the full report from the Office for National Statistics (ONS) - Average Weekly Earnings - Bonus Payments in Great Britain, 2014/15 .
The Queen’s Awards for Enterprise 16 September 2015
There is still time to enter your business or an individual for The Queen’s Award for Enterprise as the deadline for applications and nominations is 30 September 2015.
There are 3 Queen’s Awards for Enterprise for organisations, and one for individuals.
The Queen’s Awards for Enterprise are awards for outstanding achievement by UK businesses in the categories of:
innovation - for commercial success as a result of innovation international trade - for growth and commercial success in international trade sustainable development - for commercially successful products, services and management that benefit the environment, society and the economy
These awards are valid for 5 years.
The Queen’s Award for Enterprise Promotion is a separate award for individuals. It’s open to people who have played an outstanding role in promoting enterprise skills and attitudes.
Entry is by nomination only and the award is for life.
For full details on eligibility and how to apply, click here .
CIPP Policy News Journal
25/04/2016, Page 108 of 453
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