In this research, we examine the results of a survey of 185 Canadian organizations to provide an update on the pay environment and projected salary and short-term incentive plan payouts for 2024.
Have Canadian organizations changed their 2024 salary projections since spring 2023? What is the projected average pay increase for non-unionized employees? What are the key factors for organizations that have revised their salary projections for 2024?
Read the data briefing to get our full analysis.
Key findings
A biannual check-in: Understanding the pulse check report
Salary projections stagnate alongside the Canadian economy
Changes in salary projections are under way for few organizations
Unmet profit targets and rising costs are dampening projections for some
Salary projections for 2024 remain aligned with initial expectations
More organizations now plan to freeze salaries in 2024
Organizations stick to initial short-term incentive targets
Final thoughts
Appendix A—Methodology
Appendix B—Glossary
Appendix C—Respondent profile
Appendix D—Participating organizations
Appendix E—Bibliography
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