The past few years have been financially
tough for just about everyone in the UK. The financial crisis saw a downturn
not only in prosperity but also in morale as the British population was forced
to pay the price for a neo-liberal disaster which was not of their making.
The good news is that all analysis points
to the fact that we have weathered the storm and that the first green shoots of
recovery, whilst slow, are beginning to show. Despite the lingering reality of
far-reaching cuts to the public sector, the economy is looking more promising
than it has for some years.
What this means for your pay cheque will
depend hugely on the industry and sector within which you work but let's take a
look at a few of the wider implications.
Reductions in unemployment
While it's important to be aware of the
growth of part-time jobs and unpaid internships, it remains the case that
employment is on the rise. As more positions become available across the UK,
now is the time for those who have been struggling under such circumstances to
move into full-time, properly paid positions.
The next step for the government is to
introduce a living wage which will guarantee these struggling workers a decent
standard of living.
Moving beyond minimum wage
“The message is, if the economy is growing,
we can have everybody swim upwards.”
Cridland expressed his concern that too
many workers in the UK are stranded in jobs which pay minimum wage and offer
little or no chances for progression. He spoke about the responsibility for
this issue, noting that it poses a “serious challenge that businesses and the
government must address”.
Recognizing growth
Of course, in order for businesses to pass
better wages onto their employees they need to know that they can afford it. A
number of senior figures and government reports may be communicating good news
about the economy but until businesses are blessed with a little more leeway in
their own finances it is impossible for them to implement any meaningful
changes for their workers.
If businesses are using well designed
accountancy software, they should be able to recognize the positive changes to
their financial situation moving into 2014. Making use of online payroll software should make it
possible for businesses to understand how much more they are able to pay their
employees and to take deliberate action to this end.
The growth of the UK economy seems a
likelihood moving into 2014 and it will be the job of government and businesses
to see that the return to prosperity is something which can be felt and shared
by people on all rungs of the employment ladder.