Compensation Planning Outlook 2023

Young businesswoman using a whiteboard while brainstorming with her colleagues in an office

Compensation Planning Outlook 2023

Human Resources
Pages:32 pages54 min read

Author: Liz Marcil, Tabatha Thibault


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

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The lifting of COVID-related public health measures contributed to record-low unemployment in 2022. Employment will remain high into 2023 because of the tight Canadian labour market and high demand for labour.

Average salary increases for non-unionized workers rose to 3.3 per cent in 2022 and will remain above 3.0 per cent in 2023.

Employees in Yukon, Northwest Territories, and Nunavut received the highest average pay increases in 2022, at 4.3 per cent, but will be tied with Ontario for the second lowest pay increases (3.3 per cent) in 2023.

Employees in cooperatives and the private sector will continue to have the highest salary increases in 2023, while those in provincial government departments and agencies and in universities and school boards will continue to have the lowest.

Salary freezes are projected to be more common for most employee groups in the 2023 fiscal year.

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