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Economic recovery and labor shortages: Stronger wage increases in 2022

Economic recovery and labor shortages: Stronger wage increases in 2022

A labor shortage exacerbated by the COVID-19 pandemic and a recovery in the economy means that many Quebec employers plan to grant even bigger wage increases in 2022.

According to the Order of Certified Human Resources Consultants (CRHA), which released data from its 2022 salary outlook survey Thursday, salary increases next year will be the strongest in nearly a decade. And they will reach a rate of 2.9% in Quebec.

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The current year is marked by an economic recovery and a general labor shortage, two factors that encourage employers to provide better compensation in order to retain their key items.

Order of Certified Human Resources Consultant General Manager, Me Manon Poirier, said in a press release.

In Quebec, increases should be larger in the IT (+3.4%) and insurance (+3.3%) sectors, but more modest in public administration (+2.3%), arts, entertainment and recreation (2.4%) as well as healthcare (+2.7%) .

Last year, expectations for salary increases were 2.4% (including the freeze) and 2.7% (excluding the freeze), the CHRP said. It was also noted regarding salary structures that the expected increases are up to 2.2% (including the freeze) and 2.3% (excluding the freeze) for the next year, when it was 1.6% and 2.1% for 2021.

In addition to salary, employers will need to address issues dear to their human resources, such as work-life balance and professional recognition.

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