Inflation and labour shortages are a surefire recipe for increased wage pressure – a trend confirmed by an annual Telus Health survey, which finds base salaries are growing faster than expected.
Sixty-five per cent of those surveyed said the rise in compensation costs was a result of inflation and labour challenges that are making recruitment and retention ever more challenging. The survey found only 1.6 per cent of organizations surveyed plan to freeze wages in 2024.
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