Canada’s inflation rate rose to a new 30-year high of 4.8%. While employees typically receive a raise based on tenure and/or performance, inflation can also play a role.

Impact of inflation on salaries

Inflation diminishes the value of the dollar and in order to ensure employees can stretch their dollars to cover their needs, it’s essential for organizations to rethink their approach to employee compensation and make any changes necessary to help their staff weather the challenges of the current inflated economy.

WCBC’s Salary Surveys – Participate & Save

WCBC’s Salary & Compensation Surveys are an invaluable tool to ensure your employees are receiving compensation that makes sense in today’s economic climate. Get compensation data for 450+ position across functional areas and industries. From receptionist to CEO.