Current Trends and Compensation Definers

CURRENT TRENDS

1) Wage and Salary Increases still taking place in current Economy:
• Increases for 2009 are generally between 2.5% - 3.5%

2) Paying for Performance:
• Rewarding top performers is key in this economy
• Pay-for-Performance system is a “must” to ensure you are recognizing performance

3) Executive Compensation:
• “Say on Pay” gaining momentum in organizations and bringing with it accountability for       _performance

DEFINE COMPENSATION PRACTICES

1) Shape Your Pay Policy:
• Engage your Board, Council or Management team and ask key questions on what you want in a      _Pay Policy

2) Meet Legislated Requirements:
• Whether you are public or private sector, ensure your organization is compliant with Ontario’s Pay _Equity legislation

3) Know How Your Organization Compares to the Market:
• Check back to your Pay Policy and decide how and where you want to spend your salary budget

4) Be Prepared for Shortage of Skills (aging workforce):
• Incorporate knowledge transfer through effective Succession Planning

McDowall Associates can help you:

• Define your Pay Policy
• Implement a compensation structure that will meet legislative requirements, market and _workforce demands
• Implement a Pay for Performance system
• Implement a Succession Planning tool

Please contact us at: information@mcdowallassociates.com

Back to previous page    Up to top of page