When it comes to what Canadian workers want in today’s job market, salary remains top of mind, new research from talent solutions and business consulting firm Robert Half shows. According to the just-released 2023 Salary Guide, companies are under pressure to offer higher compensation to current staff and new hires for a number of reasons. But beyond adjusting pay, what are employers doing to attract and retain top talent in a continued tight employment market?

The following is a snapshot of numbers to know heading into 2023:

  • Salaries are trending upward. To recruit skilled professionals, 42% of employers are offering higher starting salaries. In addition, 79% of managers who increased base compensation for new hires in the past year have also made pay adjustments for current staff.
  • Perks are more plentiful. 90% have added new perks in response to the challenging hiring market, the most common being:
    • Mental health resources (39%)
    • Flextime (38%)
    • Wellness programs (38%)
  • Raise requests are coming — and employers should prepare. Despite overall salary growth in Canada, 57% of professionals feel underpaid. 34% plan to ask for a raise if they don’t get one — or the amount is lower than expected — by year-end. Further, 37% of workers would consider changing employers for a 10% increase in pay.
  • Professionals are showing their worth. To better position themselves for a raise, workers are:
    • Taking on responsibilities outside their job description (41%)
    • Acquiring new and relevant skills or certifications (27%)
    • Researching salaries and sharing discrepancies with their manager (27%)
  • Workers remain confident. 47% of professionals are more likely to request a higher starting salary today compared to 12 months ago. An even greater percentage (57%) feel they are in the driver’s seat when it comes to negotiating pay, perks and benefits.

“Salary is often the first consideration when workers are evaluating their overall job satisfaction, but it’s important to weigh other factors, such as flexible work options and a supportive team and manager,” said David King, senior managing director, Robert Half Canada. “Before entering a negotiation or making a career move, professionals should take the time to reflect on what will ultimately bring them the greatest value and happiness.”  

Visit the Robert Half salary calculator to view location-specific salary ranges and national data for hundreds of positions.

About the Research

The 2023 Salary Guide features employment trends and starting salaries for hundreds of positions across the finance and accounting, technology, administrative and customer support, marketing and creative, legal, and human resources professions in Canada. Information in the guide is based on data from job placements managed by Robert Half teams throughout Canada, an analysis of the demand for each position, the supply of talent and other market conditions, as well as online surveys developed by Robert Half and conducted by independent research firms*. The company produces Salary Guides in 18 countries.

*Including responses from more than 500 workers 18 years of age or older Canada (collected August 19-23, 2022) and more than 575 hiring managers at companies with 20 or more employees in Canada (collected June 17 to July 14, 2022).

Source: Cision News Wire