2018 COMPENSATION BEST PRACTICES REPORT: CANADIAN EDITION

Compensation Best Practices Report Canadian Edition
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See How Canadian HR Leaders, Executives and Comp Pros Are Making Pay Decisions This Year

In PayScale’s 2nd annual Canadian edition of the Compensation Best Practices Report, we cover everything from compensation budgets to strategy, setting pay ranges and grades, variable pay to emerging benefits to shine a light on what organizations in Canada are focusing on in 2018 as it pertains to compensating employees.

We also discuss the links among compensation, culture, performance and employee engagement.

Download the free report to learn about comp budgets, organizations’ plans for giving pay increases, compensation strategy, and how the most successful companies pay differently.

We hope you’ll find this report helpful as you evaluate your compensation strategy and market competitiveness this year.

Highlights

  1. A Disconnect Around Pay Increase Communication: A vast majority of people managers—82 percent—have confidence in their ability to explain the rationale behind pay increase decisions to employees. However, only 41 percent of organizations’ HR professionals share confidence in their managers.
  2. The Ever-Changing Market: More than half of Canadian organizations (53 percent) have done a full market study within the past 12 months. Concerns about retention and recruitment is prompting many Canadian organizations to keep a regular pulse on the market. Forty one percent of Canadian organizations reference market data at least twice a year for individual jobs, and 11 percent do so at least once per week.
  3. Performance and Retention Are the Top Reasons for Giving Raises: In 2017, performance was the number one reason that Canadian organizations gave raises, with 74 percent of Canadian orgs saying it was a top reason they gave raises. Performance jumped up pretty significantly from last year’s 63 percent in 2016, as did the other top three responses: retention, cost-of-living, and market adjustments. However, while 79 percent of organizations plan to give base pay increases in 2018, the average increase isn’t expected to change much from 2017, with 80 percent of employers estimating an average increase budget of 3 percent or less.

Download the free report to learn about comp budgets, organizations’ plans for giving pay increases, compensation strategy, and how the most successful companies pay differently.