More employers tying compensation to individual contribution
Watson Wyatt Worldwide, a human capital consulting firm, has released its Annual Canadian Salary Survey. It notes a trend to increasingly offer pay-for-performance programs to all levels of employees.
The programs’ designs are also becoming more sophisticated in their efforts to increase the awareness and commitment of employees to their company’s bottom line. For example, the use of stock purchase plans increased by 14 per cent over last year.
Other highlights of the survey include the following:
•The average salary increase for all employees in the past year was 4.1 per cent (an increase of 0.3 per cent). Executives received an average increase of 4.7 per cent (up 0.4 per cent);
•Projected average salary increases for 2002 are 3.7 per cent overall and 3.8 per cent for executives; and
•Seven per cent of respondents did not provide salary increases last year.
The Annual Canadian Salary Survey, now in its thirty-third year, was conducted by questionnaire earlier this year. Four hundred and twenty-five organizations, representing 830,000 employees, participated. Survey reports will be available for purchase from Watson Wyatt Worldwide at the end of September. For further information, contact Italia Testa at Watson Wyatt Worldwide’s Toronto office at (416) 943-6036.
The programs’ designs are also becoming more sophisticated in their efforts to increase the awareness and commitment of employees to their company’s bottom line. For example, the use of stock purchase plans increased by 14 per cent over last year.
Other highlights of the survey include the following:
•The average salary increase for all employees in the past year was 4.1 per cent (an increase of 0.3 per cent). Executives received an average increase of 4.7 per cent (up 0.4 per cent);
•Projected average salary increases for 2002 are 3.7 per cent overall and 3.8 per cent for executives; and
•Seven per cent of respondents did not provide salary increases last year.
The Annual Canadian Salary Survey, now in its thirty-third year, was conducted by questionnaire earlier this year. Four hundred and twenty-five organizations, representing 830,000 employees, participated. Survey reports will be available for purchase from Watson Wyatt Worldwide at the end of September. For further information, contact Italia Testa at Watson Wyatt Worldwide’s Toronto office at (416) 943-6036.
