Wages

High vacancy rate slowly pushes average salary up, according to the IMI

The world is in economic meltdown. Materials and products are in short supply, labour is at a premium – if it can be found, and energy is crucifyingly expensive. And to complete the perfect storm, interest rates are rising.

[caption id="attachment_29249" align="alignright" width="300"] Avoid the wage spiral. (Image: iStock/Getty Images Plus)[/caption]

Deductions are a legal minefield but employers should tread carefully if cuts to staff wages need to be made, writes Adam Bernstein