Compensation Planning Outlook
Salary Increases Lag Behind Inflation
Each year, the Conference Board’s Compensation Planning Outlook provides a trusted forecast for compensation and HR professionals across the country. This 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 data briefing for the Compensation Planning Outlook summarizes the results of the Conference Board’s annual survey for non-unionized employees. Data for unionized employees will be captured in this year’s Labour Relations Outlook.
Highlights from the Compensation Planning Outlook 2024
Average non-unionized salary increase for 2023
Projected average non-unionized salary increase for 2024
Projected salary freezes for 2024
Organizations that use the 50th percentile as their base pay target
A standoff between wages and inflation
November 9, 2023
Canadian households are spending their savings faster than they can accumulate them. At the same time, disposable income growth is expected to slow this year, largely due to the burden of increased interest costs. Together, this will lead to constrained consumer spending and could contribute to a slow-motion decline in Canada’s economic situation.
Data briefing • 30-min read
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.
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