National Post (Latest Edition)

Sur­vey in­di­cates ‘chal­leng­ing’ year ahead for wages

- Morneau Shepell

As em­ploy­ers seek ways to main­tain costs amid pan­demic-caused volatile rev­enues streams, many are look­ing at wages. More than a third (36 per cent) of Cana­dian or­ga­ni­za­tions have frozen salaries this year, com­pared to just two per cent be­fore pre- COVID, says Morneau She­p­ell’s lat­est Salary Pro­jec­tion Sur­vey. The hu­man re­sources com­pany’s sur­vey shows the trend will likely per­sist in 2021, with 46 per cent of em­ploy­ers un­cer­tain about in­creas­ing or freez­ing salaries, while 13 per cent al­ready hold­ing the line in 2021. “With nearly half of em­ploy­ers re­port­ing un­cer­tainty go­ing into 2021, it’s im­por­tant that Cana­di­ans rec­og­nize the im­pact on their fi­nan­cial well-be­ing as we ex­pect another chal­leng­ing year,” said Anand Parsan, vice-pres­i­dent, com­pen­sa­tion con­sult­ing prac­tice at Morneau She­p­ell.

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