Most firms plan pay rises in 2020 despite Brexit uncertainty

Over three-quarters of all firms plan to award wage increases next year despite the continuing uncertainty about the twists that Brexit could yet take, according to employers’ group Ibec. Pay will rise by an average 2.5% in 2020 (the same rate as this year) as a large majority of managers who head human resources departments say their pay bills will rise, according to the survey.

By sector, in-demand hi tech workers will more than likely get pay increases, but a large majority of other manufacturing and distribution firms also plan to offer more pay. Ibec’s survey of HR heads at 420 companies also found that 87% of firms employing more than 500 workers plan pay increases, while 67% of firms employing fewer than 50 staff plan to increase pay.