For the second quarter in a row, human resources professionals expect it will be hard to adjust compensation to inflation. This is the main finding of the fourth 2011
Of the 455 validated respondents, 43% expect pay increases to be less than Quebec’s inflation rate (3.3% at the time of the survey), versus 5.7% who disagree, creating a net difference of -37.4 %. Last quarter, this figure was -24.4%, which constitutes a decrease of 13.0 percentage points (% pts.). “After several years of stable and fairly low inflation, organizations are going to have to keep a close watch on how it develops in the coming months and adapt accordingly, in respect of both their employees and their acquisitions,” commented Florent Francoeur, CHRP, Ordre president and CEO.
Hiring expectations remain positive on the whole. For this last quarter of 2011, the net difference between hiring expectations amounts to +30.5% or 6.7 percentage points less than the previous quarter (+37.2%). To counterbalance this slight decrease, the net percentage of professionals expecting an increase in hours worked equals +21.9% (compared to +5.9% in the third quarter).
Furthermore, recruitment efforts remain significant, as indicated by a net difference of 57.6%. Now that students have gone back to the classroom, these problems will be shared by all economic sectors and tend to increase with the organization’s size.
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The indices presented in this quarterly newsletter are based on responses to a survey conducted from October 3 to 12, 2011 among a random sample of members of the Ordre des conseillers en ressources humaines agréés (CRHA). In all, 455 validated respondents participated in this survey, representing a margin of error of 4.5%, 19 times out of 20. In the case of organizations with a number of Ordre members, only the response of the main HR manager was retained. The responses were weighted according to the size of the organization and were not seasonally adjusted. The total percentages may not always equal 100% due to rounding of values. The survey methodology and its analysis were developed and carried out by Analysis Group, economic, financial and strategy consultants (www.groupedanalyse.ca).
About the Ordre
With close to 8,500 members, the Ordre des conseillers en ressources humaines agréés is the fifth largest association of its kind in the world. It is the only organization in Quebec mandated to award human resources professionals a title certifying their competency.