A respected tool for human resources and compensation experts, the 42nd annual TELUS Health Salary Projection Survey is forecasting a 3.45 per cent increase in average base salaries for Canadian organizations in 2025.
This projection, which excludes salary freezes, significantly outpaces Canada’s current inflation rate for the first time since 2021. Employees stand to reclaim purchasing power lost in recent years, which could significantly boost individual financial wellbeing and overall workplace morale.
Key findings from the report include:
The study also highlights that Canadian employers' priorities remain relatively consistent between 2024 and 2025. Employee engagement and building critical skills for leaders continue to be top focus areas. Additionally, there's an increasing emphasis on upskilling, training and development programs and cultivating current and future leadership. Ongoing recruitment and retention challenges have also prompted organizations to implement or plan to implement programs to enhance financial wellbeing, including healthcare spending accounts (24 per cent), financial literacy education (20 per cent) and group RRSPs (18 per cent).
Researchers also inquired about the adoption of artificial intelligence (AI) for the first time. The results reveal a significant trend: nearly three-quarters of respondents (74 per cent) are either actively exploring or seriously considering AI solutions to boost operational efficiency in the upcoming year.
About the TELUS Health Salary Projection Survey
This year’s report covers actual salary budget increases in 2024, projections for 2025, and details on how respondents are navigating these challenges. Leaders have consistently relied on this survey for crucial insights into salary and human resources trends, helping in the strategic planning of their approach towards total compensation.
Read more about the potential impact, and how the data breaks down province-to-province and by industry here.