Pay a Reality at 70% of Canadian Companies
When it comes to salary hikes, various elements come into play, including employee expectations.
In a separate study of more than 500 Canadian workers, 41% said they had not received a pay increase in the past 12 months.
In addition, half (50%) of those surveyed intend to seek a raise this year, citing compensation for increased living expenses (31%), for additional work obligations (18%). ), and taking into account the current market rate (16%)
If employees are not given a pay increase, 36% say they will look for a new job with a higher salary, 25% will request a follow-up salary discussion in a few months, and 17% request more incentives. Will be done. ,
“As well as bridging the pay gap, companies need to provide a complete compensation and benefits package that fosters a positive employee experience,” King said. “This includes providing opportunities for career growth and advancement, additional paid time off, flexible schedules, and remote or hybrid work options.”