Corporate Culture
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Hello,
With current inflation (increase in prices of gas and food), what can be the ideal budgeted increase for 2023 for your employees?
The Bank of Canada has a CPI Calculator – http://www.bankofcanada.ca/rates/related/inflation-calculator/
They also have a 5-year forecast – http://www.bankofcanada.ca/rates/staff-economic-projections/
Our organization is publicly funded so increases are dictated by our ministry approved budget.
We are still in the process of making a decision. But thinking to have 2% increase in the salaries.
We went with 3% over all this year
We have to take our cost of living to Chief and Council each fall for approval, I think this year looking at the numbers, we will be recommending 3-3.5% depending on what the inflation calculator says for September numbers. Last year we were very fortunate and received 7% for COLA adjustment.
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