Good morning!
More than half of Canadian professionals feel they are underpaid, according to the latest guide on salary insights across Canada by the talent solutions and business consulting firm Robert Half.
The report shows remuneration is still top of mind for workers, one-third of whom say they would look for a new job if their employer does not raise their salary.
"Salary continues to be the biggest priority for professionals, as cost of living remains top of mind," said David King, Robert Half's senior managing director for Canada and South America.
More than nine in 10 workers are concerned about inflation outpacing salary growth.
This is why salary offers are more important than ever to those considering a new job. It's the first thing 60 per cent of professionals look for, the survey said. Similarly, hiring managers use it as leverage in their recruiting, with 32 per cent saying they increase starting salaries specifically to attract new hires.
Beyond salary, employers are offering other benefits to help boost their hiring efforts.
"(Salary) is not the only thing that matters," said King. He explained that in addition to benchmarking salaries, businesses need to ensure they have efficient hiring processes and offer attractive perks and benefits. This could include flexibility in the workplace and upskilling opportunities to hire, retain and train top talent in the evolving labour market.
The survey found that 39 per cent of hiring managers are offering hybrid jobs to attract skilled talent, and 37 per cent are offering flexible schedules. This is good news for the 32 per cent of workers who say more flexibility is the main reason they are looking for a new job.
Other factors job seekers consider when applying for work include the duration of a company's hiring cycle. The report said employers who don't streamline their hiring processes and pick up the pace of recruitment risk losing top talent.
The survey said 44 per cent of managers report that long hiring cycles are leading to high turnover due to sustained heavy workloads, while 42 per cent say they lead to higher recruitment costs. Forty per cent say they've lost top candidates to competitors as a result of lengthy hiring procedures and 39 per cent have had projects delayed or cancelled because of this.
Robert Half's 2025 Canada salary guide is based on online surveys developed by the firm and conducted by independent research companies. The surveys were conducted in June 2024 and include responses from more than 1,750 workers aged 18 or older, and 1,800 managers with hiring responsibilities at Canadian companies with 20 or more employees.
— Denise Paglinawan, Financial Post
