Skip to main content
Opens in a new tab External site
Economy Impacts Salary Increases for Some Canadian Employers, Says Aon Consulting
Toronto
AOC

TORONTO, (November 13, 2008) – In an to effort assess the financial crisis' effect on salary increase budgets for 2009, Aon Consulting, the global human capital consulting organization of Aon Corporation (NYSE: AOC), conducted a follow up pulse survey to its initial August study to determine whether those same employers had changed their projections for 2009.

Among the 144 respondent organizations in Canada, 71% of them reported making no changes to their original forecast. Canadian employers face mounting pressures due to the current labour shortage, the results of the survey suggest that they do not want to aggravate this tenuous situation by sacrificing pay increases in 2009.

Of the 29% of organizations that did make changes to their 2009 forecasts, 66% did so for their pay increase budget exclusively. On average, budget forecasts were reduced by 0.5% for pay increases and by 0.25% for salary structures. Ontario employers were the ones who made the most revisions.

The industrial sectors where revisions to the forecasts were most predominant were the Financial Services, Insurance and Manufacturing sectors.

# # #

About Aon Consulting
Aon Consulting Worldwide is among the top global human capital consulting firms, with 2007 revenues of $1.352 billion and 6,335 professionals in 117 offices worldwide. Aon Consulting is shaping the workplace of the future through benefits, talent management and rewards strategies and solutions. Aon Consulting was named the best employee benefit consulting firm by the readers of Business Insurance magazine in 2006, 2007 and 2008.  For more information on Aon, please visit www.aon.mediaroom.com.

About Aon
Aon Corporation (NYSE: AOC) is the leading global provider of risk management services, insurance and reinsurance brokerage, and human capital consulting. Through its 36,000 colleagues worldwide, Aon readily delivers distinctive client value via innovative and effective risk management and workforce productivity solutions. Our industry-leading global resources, technical expertise and industry knowledge are delivered locally through more than 500 offices in more than 120 countries. Aon was named the world's best broker by Euromoney magazine's 2008 Insurance Survey. In 2008, Aon ranked highest on the Business Insurance ranking of the world's largest insurance brokers based on commercial retail, wholesale, reinsurance and personal lines brokerage revenues. Aon also was ranked by A.M. Best as the number one insurance broker based on brokerage revenues in 2007 and 2008, and was voted best insurance intermediary, best reinsurance intermediary, and best employee benefits consulting firm in 2007 and 2008 by the readers of Business Insurance.  Sign up to receive Aon news alerts by email or RSS feed at: http://aon.mediaroom.com/index.php?s=58.
 

Media Resources

Access international media contacts, the full library of Aon media releases, and a media kit with fact sheet and executive bios, via links below.

Media Contacts
Media Releases
Media Kit
Featured Updates