OTTAWA, Feb. 19 /CNW Telbec/ - Canadian organizations continue to lower
their projected 2009 salary increases for non-unionized employees in response
to the economic recession, according to the findings of an update of the
Conference Board's Compensation Planning Outlook survey.
"The deteriorating financial and economic conditions are having an
adverse effect on salary increases," said Prem Benimadhu, Vice-President,
Governance and Human Resource Management. "Projected average salary increases
fell by a full percentage point in just a few months. This downward trend will
persist as the year goes on."
Projected average increases already fell from 3.9 per cent among
respondents to the summer 2008 Compensation Planning Outlook survey, to 2.9
per cent in the update conducted in December and January. Total inflation is
forecast to be 0.7 per cent in 2009, so workers can still expect to receive
increases that will outpace inflation.
The findings of the updated Compensation Planning Outlook are based on
the responses of 220 predominantly large- and medium-sized organizations. At
the time the survey was taken, 57 per cent of respondents were working with
recommended or preliminary salary budgets, while 43 per cent had finalized
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