Towers Watson Data Services Releases the 2010/2011 Salary Budget Survey
Report

  • New data reveals that salary increases are steadily on the rise among Canadian organizations.
  • Canadian organizations are optimistic about economic recovery in 2011.

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 2011.

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
Towers Watson 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 global basis.

SOURCE TOWERS WATSON DATA SERVICES

For further information: For further information:

Darcy Clark
Towers Watson Data Services
Tel: +1 877-550-4402
E-mail: Darcy.Clark@towerswatson.com

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