Canadian employers are projecting average base pay increases of 3.1 per cent for 2012, according to Mercer’s preliminary compensation planning data, based on a survey of 675 organizations.
Employers reported they awarded pay increases of three per cent in 2011. This was up from the 2.7 per cent awarded in 2010 and the two per cent awarded in 2009, found the Mercer Compensation Planning Survey.
“Retaining key talent will be a key priority for employers as the economy recovers. Top talent are the first to find new opportunities elsewhere,” said Iain Morris, human capital business leader for Mercer in Canada. “Employers with modest budgets for salary and promotional increases may be left with few tools to recognize and retain key people.”
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