If you’re an employee in B.C.’s technology sector, you’ve got reason to be optimistic. New data suggests that few tech companies plan on freezing wages next year, and better yet, many plan to increase wages.
Research from the HR Tech Group, a professional forum for human resources professionals employed in the B.C. technology industry, is reporting that average technology sector salaries increased by 2.3 per cent in 2010, compared to 1.9 per cent in 2009. Further, 2011 is expected to bring an average salary increase of 3.1 per cent.
While salaries are rising, the number of companies planning to freeze salaries is declining. In 2009, 67 per cent of companies froze salaries. In 2010, that number plummeted to 10 per cent, and only three per cent of companies plan to freeze salaries in 2011.
Salaries are only part of the picture, according to HR Tech Group. As they note in a press release, human resource departments at these companies are focusing on non-monetary ways to engage employees and keep them satisfied:
“For a tech employee, it’s not just about what they get paid. Employees are looking for exciting work opportunities, career growth and excellent leadership from the top”, says Allison Rutherford, Executive Director of the HR Tech Group. “Human Resources can assist companies with this in fostering a positive culture in the workplace, and developing succession plans and identifying training opportunities.”
HR Tech Group’s study gathered data in July and August of 2011, and studied companies from the IT, clean tech, digital media and wireless sectors.