New data reveals that salary increases are steadily on the rise
among Canadian organizations.
Canadian organizations are optimistic about economic recovery in
TORONTO, Aug. 26 /CNW/ - Towers Watson Data Services, a wholly-owned
subsidiary of Towers Watson, today announced the release of its 2010/2011
Salary Budget Survey Report.
The report, conducted between May and June 2010, provides data on actual
salary increases granted for 2009, budgeted for 2010 and projected for
Chief among its findings was that Canadian employers are cautiously
optimistic about economic recovery in 2011, as evidenced by the
increased percentage of responding organizations projecting salary
increases. Among the 200 survey participants, 98% project salary
increases for 2011, up from 95% in 2010 and 70% actually granting
increases in 2009.
Some of the report's other key findings are listed below:
For 2011, within organizations that plan to grant increases, average
salary increases are projected to be higher than those budgeted for
2010 for all five employee groups surveyed (executive, management,
professional/technical, administrative/support and hourly). Base
salaries are expected to rise next year by an average of 3.1% for
executives; 3.0% for management; 2.9% for professional/technical and
administrative/support groups; and 3.0% for the hourly group.
More organizations are expected to adjust salary range midpoints in
2011 versus organizations that already adjusted or plan to adjust
salary range midpoints in 2010
For all employee groups, the budgeted incentive/bonus pools are higher
than those originally projected for 2010
The 2010/2011 Salary Budget Survey Report is
available online, or as an online/printed report set.
About Towers Watson Data Services
Data Services (TWDS) is a leading provider of compensation, benefits and
employment practices information to the global employer community. From
offices around the world we solicit, analyze and publish an extensive
library of online, printed and interactive survey reports. Our
compensation databases are recognized worldwide as the most reliable
source of current data for compensation planning.
Covering 97 countries across six continents, our data centers in the
U.S., Canada, Europe, Asia and Latin America annually compile reports on
the remuneration, benefits and employment practices of local and
multinational companies. Our "in-country" experts apply their local
knowledge of the varied employment markets, practices and customs to
deliver a complete compensation picture that can be used to create
sound, market-based pay programs for entire organizations. Our
international databases contain compensation information covering
millions of employees based on the annual survey participation of
organizations ranging from emerging growth companies to many of the
world's largest conglomerates.
In addition to compensation surveys, TWDS publishes references that help
HR practitioners attract, retain and reward exceptional employees. These
guides cover a wide variety of subject areas, including variable pay,
performance management and personnel policies on a local, regional and
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