Canadian employees have an optimistic outlook for the year ahead, with the majority anticipating the year will see improvements to the financial outlook for business, as well as a pay rise to reflect the improved outlook.
According to the latest global Workmonitor survey from recruitment and HR services company Randstad, three out of five (58%) Canadian employees expect their salaries to rise by the end of the year, and the same figure anticipates they will have more disposable income in 2012 than in 2011.
Other key findings from the survey included:
Despite positive expectations, 47% of Canadian employees think their employee benefits will improve this year
43% expect to receive a yearly bonus
60% of Canadian workers said last year was a good year for their organization
In other parts of the world, (especially outside of Europe), financial expectations for 2012 are high – more than 80% of employees in Argentina, Brazil, Chile, China, India and Mexico expect to receive a pay raise, bonus or improvement in employee benefits
European employees have lower expectations; around one third or less expect to see any improvements in these areas
President of Randstad Canada, Jan Hein Bax, said the positive employee outlook was encouraging news for employers, and highlighted that many employees remain cautious when it comes to their expectations of improved benefits and bonuses – largely an after-effect of the uncertain economic times the country has experienced.
According to Randstad, employers less able to offer pay above the competition may need to get creative in order to retain staff in the long term, and should focus on improving and promoting their employer brand.
The ‘best employers’ continue to offer a broad package of benefits and incentives, such as training and development opportunities, a good work-life balance and flexible working options.
New addition to the C-Suite: The CDO
End to mandatory retirement for federally regulated employees
Employment grows but job market remains slack