In this research, we examine the results of a survey of 228 Canadian organizations to provide an update on the pay environment and projected salary and short-term incentive plan payouts for 2023.
Are pay freezes declining? What are the most influential factors for organizations that have revised their compensation strategies for 2023? What will the average pay increase for non-unionized employees be?
Read the data briefing to get our full analysis.
Key Findings
Compensation Strategies Will Be Enhanced Despite High Interest Rates and Persistent Inflation
Revisions to Salary Projections Are Under Way
Salary Increase Projections Rose Across the Board
Attraction and Retention
Are Top Reasons for Increasing
Salary Projections
Fewer Organizations Will Freeze Salaries in 2023
Organizations Will Follow Through With Initial Targets for STIPs
Curating Well-Balanced Compensation Strategies Will Remain Urgent in 2023
Appendix A—Methodology
Appendix B—Glossary
Appendix C—Respondent Profile
Appendix D—Participating Organizations
Appendix E—Bibliography
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