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Compensation Planning Outlook 2022 The Conference Board of Canada, 27 pages, September 7, 2021 Data briefing by Kelsey Coburn , Jonathan Francis

Compensation Planning Outlook 2022

The Conference Board of Canada, 27 pages, September 7, 2021
Data briefing by Kelsey Coburn , Jonathan Francis

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This year’s Compensation Planning Outlook is based on responses from 363 organizations with operations in Canada. This report summarizes the results of our annual compensation survey and forecast. Document Highlights This year, Canadian employers are optimistically planning 2022 salary budgets. The average pay increase for non-unionized employees is projected to be 2.4 per cent next year– nearing pre-pandemic level increases. Nine per cent of organizations are freezing pay in 2021 – down from 14 per cent that had planned to hold salaries steady across the organization. Short-term incentive pay remains a key component of total compensation—76 per cent of surveyed organizations have at least one short-term incentive plan in place. When compared to last year, the percentage of organizations exceeding target payouts nearly doubled. Table of Contents Key findings Labour market gets boost from vaccine rollout Non-unionized salary increases set to bounce back Incentive payouts recover from short-term slump Appendix A: Methodology Appendix B: Glossary Appendix C: Respondent profile Appendix D: Participating organizations Appendix E: Bibliography

This year’s Compensation Planning Outlook is based on responses from 363 organizations with operations in Canada. This report summarizes the results of our annual compensation survey and forecast.

Document Highlights

This year, Canadian employers are optimistically planning 2022 salary budgets. The average pay increase for non-unionized employees is projected to be 2.4 per cent next year– nearing pre-pandemic level increases.
Nine per cent of organizations are freezing pay in 2021 – down from 14 per cent that had planned to hold salaries steady across the organization.
Short-term incentive pay remains a key component of total compensation—76 per cent of surveyed organizations have at least one short-term incentive plan in place. When compared to last year, the percentage of organizations exceeding target payouts nearly doubled.

Key findings
Labour market gets boost from vaccine rollout
Non-unionized salary increases set to bounce back
Incentive payouts recover from short-term slump

Appendix A: Methodology
Appendix B: Glossary
Appendix C: Respondent profile
Appendix D: Participating organizations
Appendix E: Bibliography

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