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Annual pay growth for May to July 2023 rises by 7.8%

Employee Benefits

Annual pay growth , excluding bonuses, from May to July 2023 was 7.8%, according to data from the Office for National Statistics (ONS). Its latest labour market figures revealed that this was the same as the previous quarter, the highest regular annual growth rate since comparable records began in 2001, and in line with market expectations.

Bonuses 116
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Average pay growth high but failing to keep pace with inflation

Employee Benefits

Growth in total pay , including bonuses, was 5.9% in the final quarter of 2022, while pay growth excluding bonuses was 6.7%, according to the latest labour market data from the Office of National Statistics (ONS). For pay excluding bonuses, this was the highest growth rate seen outside of the Covid-19 pandemic. on average.

Bonuses 105
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Eli Lilly CFO resigns over misconduct in workplace

HR Digest

Ashkenazi joined Eli Lilly in 2001. Anat Ashkenazi, previously senior vice president, controller and chief financial officer of Lilly Research Laboratories, has been named as his successor and will now be the next CFO. Smiley was appointed the CFO in 2018.

Retail 52
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5 Elements of a Healthy Performance Review Process

Achievers

This was popularized by Jack Welch, former CEO and Chairman of General Electric (1980-2001). The idea that people are motivated by knowing where they stand within an organization gave birth to the “ rank and yank ” method of ranking employees into top, average, and poor performing tiers (and eliminating those at the bottom).

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Understanding and preventing incivility at work

Business Management Daily

A 2001 workplace study by Cortina, Magley, Williams, and Langhout establishes some of the most prominent impacts workers feel when mistreated by their employers, with negative outcomes affecting everything from the quality of their work to their physical and mental health. At its worst, they suffer panic attacks in the parking lot.

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Performance Appraisal & Rewards in Response to COVID-19

HR Digest

And the lessons from most recent events in the last 20 years like the relatively mild swine flu (H1N1) in 2009, the dot-com bubble of 2001, and the 2008-09 Great Recession, are nowhere near suitable to withstand the social and economic impacts of the COVID-19 pandemic. Spanish flu). Remuneration and Compensation Committees.

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Shaping Performance & Rewards in Response to COVID-19

HR Digest

And the lessons from most recent events in the last 20 years like the relatively mild swine flu (H1N1) in 2009, the dot-com bubble of 2001, and the 2008-09 Great Recession, are nowhere near suitable to withstand the social and economic impacts of the COVID-19 pandemic. Spanish flu). Remuneration and Compensation Committees.