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Salary Increase
Projections for 2008
- Budgeting for most
companies involves estimating where salaries are going in the external
market and planning to remain competitive. Often, the payroll is the largest
expense in most budgets, and getting the projection right can mean a
competitive edge, either in hiring new staff, retaining top staff, or
keeping expenses under control to enhance bottom line results.
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- We are pleased to
provide our clients with a synopsis from an international survey that
is the largest and most reliable of it kind available.
The survey includes information from 208 organizations, and
represents 580,000 Canadian employees.
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- We show projected
changes in Base Salary – sometimes call budgeted increases – and the
projected change in Salary Structure – the change in a company’s pay
policy. Base Salary changes are greater than Salary Structure because Base
Salary changes include increases for individual merit or performance,
promotions, organizational changes, general productivity increases, etc.
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- We show the information
provided for changes to salary structure – how much salary ranges will
increase – and for budgeted aggregate payroll increases.
- This information is
often useful in preparing high-level budgets. Paying individual employees
correctly is more complex, normally taking into consideration the job
relative size and level, the company pay structure, the external competitive
market, and individual performance.
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- We have more detailed
information that can be broken down by region, industry or job family, and
we can provide historic information and trends.
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- We can help with any of
our clients’ compensation and benefits needs, as well as with a wide range
of other human resource management issues. We would be pleased to discuss
any of your human resource related concerns.
For More Information Contact:
A. Michael Hiles & Associates
118 Charnwood, Beaconsfield, Québec, Canada
Tel: 514-573-3012
Internet: mhiles@total.net
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