Pay increases in Quebec will exceed 2022 forecasts, study suggests

The latest estimate places average overall pay increases at 3.3 to 3.5 per cent.

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Last September, forecasts were already indicating an upward trend compared with what had been observed over the past 10 years.

Rather than the 2.9 per cent increase originally forecasted, the latest estimate — excluding salary freezes — places average overall pay increases at 3.3 to 3.5 per cent.

The Canadian average for salary increases is 3.1 to 3.4 per cent.

Manon Poirier, the director of the Ordre des conseillers en ressources humaines agréés, said employers would probably need to make a particular effort to retain employees who play a critical role in the organization, who are at risk of leaving, who perform well and who display potential. Additionally, Poirier said she believes such effort will be necessary no matter where an employee is on the pay scale.

Poirier said workplaces are hungry for talent and offers are becoming increasingly generous. She said employers will need to innovate when it comes to compensation.

The order also expects 2022 to be marked by employers investing more in the improvement of overall working conditions in order to attract and retain employees.

The order’s study on salary forecasts was conducted in collaboration with four consulting firms.