- Friday, 22 May 2009More Britons could be left seeking
IVA solutions this year amid predictions that salary growth could flatten completely.
Charles Cotton, reward adviser at the Chartered Institute of Personnel and Development, notes that negative inflation on some indices could be a reason for pay to fall in some cases.
He adds that "it will be interesting" to see if salary growth bottoms out at zero on average, or reaches the same level as in previous recessions of around 1.5 per cent.
Either way, employees who have been awaiting their annual pay review to help them back out of debt could find
IVA help to be a necessary alternative if no wage rise is forthcoming.
IVA solutions could also become more necessary in the public services sector as the recession continues.
Mr Cotton points out that salaries are often fixed in advance in the public sector, meaning it could be a year before those in the industry are hit by freezes on pay increases.
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