2013 Compensation Forecast
Summary of planned salary increases for 2013 - Canadian survey
Please find below a summary of recent Canadian survey findings* with respect to planned salary increases for 2013.
Projected Pay Increases for 2013
• Employers remain cautious with pay increases for 2013 with expected wage increases of 2.8–3.2% on average across Canada in 2013 (similar to actual pay increases in 2012)
• Less than 2 percent of employers expect to implement a salary freeze
• Average expected salary scale adjustment for 2013 is an increase of 1.9% (versus 1.7% in 2012).
• While some regions and sectors anticipate higher salary increases, the comparative gap is not overly significant
• Alberta & Saskatchewan are forecasting average increases between 3.2–3.6 % versus the rest of Canada at 2.7–2.9%
• Oil and gas companies are forecasting increases of 3.9-4.2 % followed by mining at 3.6% and utilities at 3.2%
• Public sector and not-for-profits are forecasting salary increases at 2.4–2.5% versus private sector at 2.9%
• Salary budget increases for major metropolitan areas are slightly higher, around the 3% level.
• Differentiating salary increases based on performance continues to be the norm
• Salary increases for top-performing employees are expected to remain higher as companies strive to balance compensation budgets with retention of critical talent; in 2012, average salary increases for top-perfomers was 4.9 percent.
*Annual projection of 2013 pay increase reports by Mercer, Morneau Shepell, Hay Group, WorldatWork, Aon Hewitt, and Towers Watson.
Note: The numbers provided above are approximations only and are intended to provide you with a glimpse of what is happening in the marketplace today. They should be used as general guidelines only. Your organization needs to consider your current financial, staffing and business situation when determining appropriate salary increase levels for 2013.
Contact Faye Wales through firstname.lastname@example.org with questions regarding compensation planning.