Caution still reigns with salary forecasts

Some employers downgrade budgets predicted last summer, but there are signs of optimism
By Sarah Dobson
|Canadian HR Reporter|Last Updated: 02/14/2012

When it comes to the economy in 2012, it’s anyone’s guess, judging by the results of recent surveys around salary and recruitment. Some organizations have rethought planned raises because of shaky forecasts but others see signs of better days before the end of the year.

With that in mind, HR professionals will be facing plenty of pressure when it comes to strategies around compensation, recruitment and retention.

“People are not feeling the recovery’s moving as quickly as expected or desired, so organizations are being conservative,” said Susan Hunter, vice-president of Aon Hewitt’s rewards practice in Toronto. “What you’re seeing is a little bit of a softening… a downward trend.”