Training takes priority over pay

Employees are unlikely to receive large base pay increases next year, but will benefit from more training and development opportunities, according to a European survey by Mercer Human Resource Consulting. The study of more than 430 companies in Europe, mostly multinationals, found that only 16 per cent of respondents are planning to increase their investment in base salary rises next year. In contrast, almost six in ten (58 per cent) say they will spend more money on training and career development initiatives for their staff.