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2023 Salary Guide From Robert Half reveals how employers are stepping up pay, perks and benefits to win over talent

TORONTO, Sept. 27, 2022 /CNW/ -  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 per cent of employers are offering higher starting salaries. In addition, 79 per cent 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. Nine in 10 companies (90 per cent) have added new perks in response to the challenging hiring market, the most common being:

1. Mental health resources (39 per cent)
2. Flextime (38 per cent)
3. Wellness programs (38 per cent)

• Raise requests are coming — and employers should prepare. Despite overall salary growth in Canada, more than half of professionals (57 per cent) feel underpaid. Thirty-four per cent plan to ask for a raise if they don't get one — or the amount is lower than expected — by year-end. Further, nearly four in 10 workers (37 per cent) would consider changing employers for a 10 per cent increase in pay.
  
  
• Professionals are showing their worth. To better position themselves for a raise, workers are:

1. Taking on responsibilities outside their job description (41 per cent)
2. Acquiring new and relevant skills or certifications (27 per cent)
3. Researching salaries and sharing discrepancies with their manager (27 per cent)

• Workers remain confident. Forty-seven per cent of professionals are more likely to request a higher starting salary today compared to 12 months ago. An even greater percentage (57 per cent) feel they are in the driver's seat when it comes to negotiating pay, perks and benefits.

"The Canadian labour market remains tight, and professionals continue to have leverage when it comes to negotiating for better pay, perks and benefits," said David King, senior managing director, Robert Half Canada. "Keeping in lockstep with current compensation trends is a critical element of recruiting and retaining skilled talent, as is providing perks and benefits that support employees' overall well-being."

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

"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," added King. "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."  

Robert Half has reported on salaries for more than 70 years. 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).

Robert Half is the world's first and largest specialized talent solutions and business consulting firm that connects people with meaningful work and provides clients with the talent and subject matter expertise they need to confidently compete and grow. Visit roberthalf.ca and download our award-winning mobile app.

SOURCE Robert Half Canada