While Big Tech is frantically laying off the loyal staff that made them billions, British tech firms are finding it increasingly difficult to keep them, according to one study.
Employers are expected to raise wages for their staff by the most in at least 11 years, but the five per cent pay deals for workers would still fall well below expected inflation, a survey published on Monday showed.
The Bank of England has warned that the surge in inflation could be harder to tame if pay deals keep rising, the Chartered Institute of Personnel Development (CIPD) said 55 per cent of recruiters planned to lift base or variable pay this year as they struggle to hire and retain staff in Britain’s tight labour market.
