Many Canadian and American companies haven't aligned their total rewards strategy with their business strategy, according to a survey.
Federal public servants have pension guarantees in their DB plans that are mispriced, causing Ottawa to seriously underestimate the cost of the pension plans and the total compensation of its employees, according to a report.
The Government of Saskatchewan will increase the province's hourly minimum wage to $10.20 from $10.00 effective Oct. 1, 2014 and will soon introduce regulations to provide for regular indexing of the minimum wage each year.
The Government of Ontario has introduced legislation that would authorize it to establish compensation frameworks, including sector-specific hard caps for senior executives in the broader public sector.
McKesson's CEO has decided to voluntarily reduce his pension benefit by about US$45 million ($49.7 million) after negative shareholder feedback.
The difference between public and private sector wages for equivalent jobs in Ontario—after a decade of steady increase—currently costs more than $1 billion a year for the government, and this needs to be addressed, according to a study.
Quebec plans to increase its minimum wage by 2% at the beginning of May.
Ontario plans to increase the minimum wage to $11 per hour on June 1, 2014, up from the current level of $10.25 an hour.
Average salary increases of 2.9% are expected in 2014 across all employee groups and industries in Canada, according to Aon Hewitt.
Canadian organizations are planning average salary increases of 2.7% for their salaried employees in the coming year, according to the 2014 Pal Benefits Salary Budget Report.