Compen­sation Planning Outlook

Updated: February 17, 2021

2021 projections down as pay planners finalize salary budgets.

Each year, the Conference Board’s Compensation Planning Outlook provides a trusted forecast for compensation and HR professionals across the country. This benchmarking report gives the most up-to-date data, essential for any organization looking to secure the talent they need to succeed in an increasingly competitive marketplace.

The first data briefing for the Compensation Planning Outlook summarizes the results of the Conference Board’s annual survey and forecast. The second data briefing, Compensation Planning Outlook 2021: Pulse Check, discusses how employers are adapting to the new and changing labour market.

Based on the insights of 217 Canadian organizations who participated in the Compensation Planning Outlook 2021: Pulse Check survey, this data briefing provides comprehensive information on:

  • Canada’s fiscal situation
  • Non-unionized salary increase projections
  • Pay freezes
  • Incentive pay targets

2021 projected salary increase

(n = 201; average percentage of base pay; non-unionized employees)

Source: The Conference Board of Canada.

Highlights

1.9%—projected 2021 salary increase for non-unionized employees

16%—organizations planning a 2021 pay freeze across all employee groups

68%—organizations maintaining 2020 variable pay targets for 2021

1.6%—projected 2021 negotiated wage increase for unionized employees

Based on the insights of 401 Canadian organizations—representing over 1 million employees—who participated in the Compensation Planning Outlook 2021 survey, this data briefing provides comprehensive information on:

  • The pay environment
  • Non-unionized and unionized pay increases
  • Incentive pay and plans
  • Labour market challenges

2021 projected salary increase

(n = 335; average percentage of base pay; non-unionized employees)

Source: The Conference Board of Canada.

Highlights

40%—organizations that do not yet have preliminary 2021 budget recommendations

2.1%—non-unionized employees’ projected 2021 salary increase

14%—organizations planning a 2021 salary freeze across all employee groups

1.6%—projected 2021 negotiated wage increase for unionized employees

I can always count on The Conference Board of Canada to give me the most up-to-date and accurate salary planning data. Year after year, I eagerly await this trusted publication to plan my company’s salary range adjustments and merit budget.

Get notified when the 2023 Compensation Planning survey is available to participate next year.

Participation in the survey allows you to get the Compensation Planning 2023 Outlook report for free.

Learn more

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