This year’s Outlook addresses: reward strategies and priorities; base pay increases and decreases; short- and long-term incentive plans; employee turnover; and wage settlements for the year ahead.
Compensation Outlook 2009—Economic Uncertainty Spells Caution Ahead
Compensation Outlook 2009—Economic Uncertainty Spells Caution Ahead
Business and Household Indicators
Canadian Economic Analysis
People and Culture
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Compensation Planning Outlook summarizes the results of The Conference Board of Canada’s annual compensation survey.
This year’s Outlook explores strategies reward strategies and priorities; base pay increases; short-and long-term incentive plans, including variable pay; employee turnover; performance management; and anticipated wage settlements.
The average non-union pay increase for 2009 is projected to be 3.9 per cent, 1.9 percentage points ahead of the 2 per cent inflation rate forecast for next year. The highest increases—averaging 5.4 per cent—will occur in the oil and gas industry. Wage settlements for unionized workers are expected to average 3.2 per cent in 2009.
Turmoil in the financial markets and the possibility of a global economic downturn will put downward pressure on pay increases in 2009. Recruitment and retention issues will continue to place pressure on businesses.
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