A new Conference Board of Canada study indicates the number one reward priority among employers is to maintain their competitive market position.
Other reward priorities for the next 12 to 18 months identified by respondents to the Compensation Planning Outlook 2015 include:
- Retaining employees
- Reviewing strategy and ensuring alignment with business objectives
- Connecting pay and performance
- Attracting high-caliber employees
The survey results, which reflect responses from 382 Canadian organizations, indicate that performance management policies are at the top of HR leaders’ agendas. Retention and attraction of talent are key areas of focus for many organizations.
The poll suggests organizations are planning only moderate pay increases for 2015, says the Conference board. The survey findings indicate the average base pay increase for non-unionized employees is projected to be 2.9 per cent in 2015, in line with the 2.8 per cent increases delivered in 2014.
Most organizations are planning salary increases for 2015, with only two per cent anticipating a base salary freeze for all employees.
The average adjustment to salary structures for 2015 is 2.1 per cent (excluding zeroes). Only 11 per cent of respondents with salary range structures plan to hold their ranges constant in 2015, down from 19 per cent in 2014.