Financial wellbeing | 76% of pay awards in 2023 higher than 2022 levels as firms bid to alleviate cost-of-living pressures

More than three quarters of pay awards in 2023 were higher than 2022 levels, as employers bid to alleviate cost-of-living challenges, new research has found.

The latest data from XpertHR shows that, overall, 76% of pay awards in 2023 were higher than the same group of employees received in 2022, with just one in 10 (12.9%) lower.