Rate of Pay Continues to Increase

Performance Management Emerges as Key Issue

In 2005, Canadian employers will continue to offer modest salary increases and rely heavily on short-term incentive programs, according to the 2004 Annual Canadian Salary Survey by Watson Wyatt Worldwide.

In 2004, the vast majority (97 percent) of employers reported salary increases, up from 92 percent in 2003. Of those organizations providing increases in 2004, the average actual salary increase for all employees was 3.2 percent, a slight decline from the 3.3 percent actual increase in 2003. For the second year in a row, base salary increases are fairly flat across different regions and industries. For 2005, employers are forecasting a 3.1 percent increase in salaries.

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WRITTEN BY
Gal Wilder
Smiling woman. By Gabriel Silverio of Unsplash.com

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