From navigating limited budgets and approval processes to separating performance feedback from pay discussions, we delve into practical tips that empower you to foster open communication and transparency with your employees. By implementing these strategies, organizations can create a supportive environment where managers feel equipped to address pay-related concerns and deliver annual increase news effectively.

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Learn how to address pay compression issues and implement effective pay transparency practices for a fair and equitable workplace. Mercer provides insights and solutions to navigate these critical compensation challenges.

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One last look at what employers are forecasting for salary increase budgets for 2024 in Canada. This 2023 Mercer QuickPulse™ survey also has insights to share on promotions, off-cycle increases, salary structure adjustments, and some hot topics such as pay transparency.

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Whether you are new to the world of compensation or an experienced practitioner, run through these 10 tips and see what you might want to add to your toolbox.

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When asked what they plan to budget for 2024, respondents reported a decrease in the size of the average projected annual increase budgets for both merit and total increases compared to 2023. Read more on the findings of the Compensation Planning Survey, and see how you can easily access the end of year results.

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This article will provide you with considerations around when to use general industry and industry specific data –  or even when to use both!

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Are you ready to take your market pricing to the next level? Develop and implement a benchmark methodology to increase your accuracy, efficiency and consistency and be sure your job pricing is aligned with your compensation philosophy.

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