Executive sector news

UK bosses have their say

21/8/2009
A survey by the Institute of Directors of over 1,300 UK bosses shows that nearly 50% have had their pay frozen or are on a 'pay holiday'. 40% have had their bonuses reduced.

The figures are in sharp contrast with the public sector, where the latest data from the Office of National Statistics shows that average earnings, including bonuses, increased by 4.0% in June, compared with 2008.

Commenting on the survey findings, IoD Director General, Miles Templeman said, "This recession has had a big effect on businesses, the public sector cannot remain immune, and the need to bring down the deficit means that a pay freeze across government should come into effect."

The survey also found that 33% of UK bosses say that some of their organisation's employees lack basic skills such as numeracy, literacy and IT. Of these employers, 70% said that the weaknesses are a significant problem. For IoD members, improving literacy and numeracy is the top-rated policy priority for the next government.

Commenting on the publication of this year's A-level results Miles Templeman said, "Today is a landmark day for thousands of students and is the culmination of, and reward for, months of hard work. At the same time, there is a perfectly legitimate debate to be had about quality of output in education."