Compensation | People function salaries show growth despite COVID-19 crisis

Despite ongoing financial volatility as a result of the coronavirus pandemic, the average salary for those within the field of HR has either remained at the same level or grown in 2020, according to new data released by jobs platform REED.

The analysis, which surveyed over 6.5million positions posted to the site over the last three years found that despite the economic uncertainty many companies have faced in the past 12 months, compensation for those in the field of HR was not affected and, in most cases, actually improved by a rate of 1.9%.

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This means that a typical salary in the industry is now around £47,220, compared to £46,355 in 2019.

However, whilst this news may be positive when compared to other sectors, it does still fall below the national increase of 2.32% and therefore not in line with inflation, with the Consumer Price Index (CPI) 12-month rate falling to just 0.3% in November 2020, from 0.7% in October 2020, and the Office of Budget Responsibility predicting it to stay below two per cent until 2025.