Hay Group releases 2011 salary increase projections for Canada
September 07, 2010 @ 01:00PM
Hay Group’s national projections for 2011 Canadian salary adjustments show a marginal increase from a year ago, but are still much lower than those made prior to the 2008 / 09 economic downturn.
Planned increases for 2011
The results from our recent survey of Canadian employers forecast a national average salary increase of 2.6% for 2011, which is higher than the 2010 projection of 2.3%, but well below the 2009 projection of 3.7%.
The average actual salary change that organizations realized in 2010 was 2.4% which supports last year’s forecast of 2.3%.
More than 560 Canadian organizations in the public and private sectors provided details of their planned salary adjustments for 2011. Participants include many of Canada’s leading employers.
“Cautious optimism might best describe the coming year”, comments Karl Aboud, Director of the Hay Group Reward Consulting Practice. “While salary adjustments are still not as aggressive as they were in pre-downturn times, they are moving higher, and when coupled with the market’s increased use of bonus awards, will result in more aggressive levels of total cash compensation. Organizations have told us that they are willing to increase the opportunity to earn more total cash, but the higher pay values must align with corporate financial performance”.
One of the more optimistic observations in this year’s survey is that only 6% of our respondents are forecasting an actual salary freeze for 2011, whereas that percentage was 15% last year. In fact, the 2.6% salary forecast goes up to 2.8% without accounting for the freeze observations.
Newfoundland with a projection of 3.5%, followed by Saskatchewan at 3.3% and Alberta at 2.9% lead all provinces for 2011 actual salary increase projections. Atlantic Canada, Quebec and Manitoba (all at 2.7%) are just above the national average projection of 2.6% while the projection of 2.4% for both Ontario and BC places them at the bottom of provincial rankings and below the national average.
|
Province |
2011 projection |
2010 projection |
|
BC |
2.4% |
1.9% |
|
Alberta |
2.9% |
2.6% |
|
Saskatchewan |
3.3% |
3.8% |
|
Manitoba |
2.7% |
3.0% |
|
Ontario |
2.4% |
2.1% |
|
Quebec |
2.7% |
2.5% |
|
Atlantic Canada |
2.7% |
2.6% |
|
Newfoundland |
3.5% |
3.5% |
Mining (at 3.4%) is the sector projecting the highest average salary increase followed by Credit Unions (at 3.3%); and Oil and Gas (at 3.2%). The three sectors with the lowest projections for 2011 are Forestry & Paper and Healthcare Providers at (1.5%) and Telecommunications (at 1.9%). Reversing trends of the last two years, the Public sector is forecasting noticeably lower salary adjustment (at 2.3%) than is the Private sector (at 2.7%).
Details of the survey results will be released at a series of breakfast presentations being held in major cities across Canada in September.
Boilerplate
About Hay Group
Hay Group is a global management consulting firm that works with leaders to transform strategy into reality. We develop talent, organize people to be more effective and motivate them to perform at their best. Our focus is on making change happen and helping people and organizations realize their potential.
We have over 2600 employees working in 86 offices in 48 countries. Our insight is supported by vigorous data from over 100 countries. Our clients are from the private, public and not-for-profit sectors, across every major industry.
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- Canadian salary projections for 2011
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- Salary projections from Hay Group
@MarieJo_L
Hay Group releases 2011 salary increase projections for Canada http://tinyurl.com/3a5gf5w #cnw
September 07, 2010 @ 06:09PM
@debbie10864
Hay Group releases 2011 salary increase projections for Canada http://tinyurl.com/3a5gf5w #cnw
September 07, 2010 @ 05:14PM
@CNWGroupSMR
Hay Group releases 2011 salary increase projections for Canada http://goo.gl/fb/BHl3F
September 07, 2010 @ 05:02PM
@GroupeCNWmedias
Hay Group publie ses prévisions salariales canadiennes pour 2011: Montréal - Les prévisions nationales de Hay Grou... http://bit.ly/abvCy3
September 07, 2010 @ 05:18PM
@billt9
Hay Group releases 2011 salary increase projections for Canada http://tinyurl.com/3a5gf5w #cnw
October 05, 2010 @ 09:09PM
@MarieJo_L
Hay Group releases 2011 salary increase projections for Canada http://tinyurl.com/3a5gf5w #cnw
September 07, 2010 @ 06:09PM
@debbie10864
Hay Group releases 2011 salary increase projections for Canada http://tinyurl.com/3a5gf5w #cnw
September 07, 2010 @ 05:14PM
@CNWGroupSMR
Hay Group releases 2011 salary increase projections for Canada http://goo.gl/fb/BHl3F
September 07, 2010 @ 05:02PM
@GroupeCNWmedias
Hay Group publie ses prévisions salariales canadiennes pour 2011: Montréal - Les prévisions nationales de Hay Grou... http://bit.ly/abvCy3
September 07, 2010 @ 05:18PM
@billt9
Hay Group releases 2011 salary increase projections for Canada http://tinyurl.com/3a5gf5w #cnw
October 05, 2010 @ 09:09PM