Salaries will climb; survey
Posted Sep 28, 2010 03:39:41 AM.
This article is more than 5 years old.
Now might be the time to approach the boss for a raise.
According to a new survey by Aon Consulting, only one in 25 employers plan to continue a trend of salary freezes in 2011. The number of companies freezing salaries was as high as 1 in 3 in 2009 and 1 in 6 this year.
“While these are preliminary results, it nonetheless reflects an over-riding upward momentum among Canadian organizations with respect to annual employee pay increases,” notes Scott Bunker, national leader of the Aon’s Human Capital practice.
Aon’s Matthew Walker cites a mood of “cautious optimism” among employers who have come to realize that freezing salaries can not be used as a method of cost containment.
“The range (for increases) can be quite broad but the typical increase would be that 3 per cent number we reported,” Walker points out.
That may not be across-the-board, though. Walker says firms have a history of rewarding their top talent for the value they return to the company.
“What you will be seeing is that companies have more money this year to give to their employees,” says Walker.
