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Economic Analysis for Collective Bargaining
Bill Taylor – CWU
ILO Turin
August 11/12 2005
In this session we will look at
What economic information we need for pay bargaining
Where we can find this information
How we can we use this information
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Economic analysis for collective bargaining
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We need information on
Economic trends
Labour market trends
Pay Comparators
Economic analysis for collective bargaining
Economic analysis for collective bargaining
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Economic trends
Key economic information
Retail Price Index (RPI)
Inflation forecasts
Cost of living
GDP (growth forecasts)
Economic trends
Where to find economic information in the UK Office for National Statistics Monthly Digest of Statistics, IDS Report, IRS Pay Intelligence, Reward Cost of Living
Regional Comparisons
How to use economic information Benchmark pay claims against inflation Benchmark claims against the cost of living Use GDP as an indicator of demand
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Economic analysis for collective bargaining
Economic analysis for collective bargaining
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Labour market trends
Key labour market informationAverage earnings
Unemployment figures
Where to find labour market information in the UKONS labour market trends, Annual Survey of Hours and Earnings
Labour Research Department Workplace Report
Labour market trends
How to use labour market information
Benchmark pay claims against average earnings
If unemployment figures are low competition for staff
will be high
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Economic analysis for collective bargaining
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Pay Comparators
Key pay information
Pay rates, bonus awards and extra allowances
Settlement levels and forecasts
Conditions ie hours, holidays and parental leave
Economic analysis for collective bargaining
Economic analysis for collective bargaining
Pay Comparators
Where to find pay information in the UK Office for National Statistics: Annual Survey of Hours
and Earnings, Pay and reward consultancies and publishers: IDS
Pay benchmark, IRS Pay Intelligence, Reward Group Clerical & Operative Rewards, Labour Research Department Workplace Report
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Economic analysis for collective bargaining
Pay Comparators
How to use pay information
Compare like with like i.e. similar level jobs
Benchmark against other companies and sectors
Create a picture of movements in pay over time
Help predict future trends in pay
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Economic analysis for collective bargaining
Summary
Economic trends - inflation, GDP Benchmark pay claim against cost of living GDP growth is an indicator of demand
Labour market trends – earnings, unemployment Benchmark pay claim against average earnings Low unemployment puts labour at a premium
Pay Comparators – pay settlements, pay rates Benchmark pay claim against pay settlements and pay rates elsewhere Compare like with like
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Questions and discussion
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