Strong wage gains predicted for 2008

But Western dominance may be nearing end
By Sarah Dobson
|Canadian HR Reporter|Last Updated: 09/21/2007

Despite some challenges on the economic front, employers are demonstrating continued optimism in predicting salary increases for 2008, said Karl Aboud, national director of reward management at Hay Group in Toronto. The company’s annual salary survey (of 550 organizations in June and July) is forecasting an average increase of 3.8 per cent in base salary across the country.

That’s up 0.2 percentage points from last year’s prediction and the actual change in pay over the last 12 months was 0.5 percentage points higher than forecast, said Aboud.

“So even though you’ve got negative economic signals, the numbers are showing aggressive growth,” he said.