- Of those, 57 per cent are increasing salaries for current staff to help close wage gaps
- Robert Half Salary Guide features data to benchmark compensation for 400-plus positions
TORONTO, April 8, 2022 /CNW/ – Many companies are taking measures to increase pay equity among workers, research from talent solutions and business consulting firm Robert Half shows. Nearly seven in 10 C-suite executives surveyed in Canada (69 per cent) said they have observed salary discrepancies between new hires and more tenured staff in the past year. Of those, 57 per cent are regularly reviewing compensation plans and increasing salaries for existing employees, when appropriate, to align with current market rates.
“In today’s tight labour market, employers need to recognize and resolve any pay discrepancies that may exist among employees in order to retain talent and remain competitive as an organization,” said David King, Canadian senior managing director of Robert Half. “Companies should take deliberate steps to improve their compensation strategy, including benchmarking salaries, conducting pay equity reviews and making adjustments as needed to ensure all employees are paid fairly for their work.”69 Per Cent of Canadian Companies Have Experienced Pay Compression in the Last 12 Months, Robert Half Research Finds Click To Tweet
Workers Expect a Raise
There are several factors at play when it comes to wage growth, and employees’ expectations are among them. In a separate survey of more than 500 Canadian workers, 41 per cent of respondents said they have not had a raise in 12 months. In addition, half (50 per cent) plan to ask for a raise this year, with the top reasons being:
- To adjust for the higher cost of living (31 per cent)
- To account for additional job responsibilities (18 per cent)
- To reflect current market rates (16 per cent)
If workers don’t get a raise:
- 36 per cent will look for a new job with higher pay
- 25 per cent will ask to revisit the salary conversation in a few months
- 17 per cent will ask for more perks
“Along with addressing salary gaps, companies need to provide a fulsome compensation and benefits package that promotes a positive employee experience overall,” added King. “That includes offering opportunities for career development and advancement, additional paid time off, flexible schedules, and remote or hybrid work options.”
Visit www.roberthalf.ca/en/salary-guide for the latest information on salary and employment trends for more than 400 positions across the finance and accounting, technology, administrative and customer support, marketing and creative, legal, and human resources professions in Canada.
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About the Research
The online surveys were developed by Robert Half and conducted by independent research firms. They include responses from 234 C-suite executives across a diverse range of industries (collected February 25 to March 8, 2022) and more than 500 workers 18 years of age or older (collected March 3-11, 2022) in Canada.
About Robert Half
Robert Half (NYSE: RHI) is the world’s first and largest specialized talent solutions and business consulting firm that connects opportunities at great companies with highly skilled job seekers. Robert Half offers contract, temporary and permanent placement solutions and is the parent company of Protiviti®, a global consulting firm. Visit roberthalf.ca and download our award-winning mobile app.
SOURCE Robert Half Canada