Employees are actively seeking new jobs if they don’t receive a pay raise
Canadian employers are grappling with the challenge of recruiting and retaining employees who are increasingly prioritizing higher pay and flexible work arrangements, according to a new survey from Robert Half.
The survey data found that 35% of workers would actively seek new job opportunities this year if they did not receive a pay raise. Additionally, three out of four employees said that a flexible work schedule was their top preference when considering a job.
On the flip side, Robert Half's survey showed that 92% of hiring managers were encountering difficulties in hiring skilled talent.
Consequently, 40% of employers have revealed their intentions to boost starting salaries in 2024 to attract and retain highly skilled employees. The survey also found that 39% of employers are planning to introduce new perks and benefits for their workforce in the coming year.
Job hunting woes
Many surveyed employees expressed frustration about job hunting, with close to 40% reporting that their main grievance was not receiving a compensation package that aligned with their expectations. Notably, more candidates were engaging in salary negotiations during the interview process.
Furthermore, 35% of hiring managers disclosed an increase in candidates negotiating compensation packages prior to their hiring.
Desire for flexible or hybrid work
60% of employees would prefer to remain in a job offering flexible work options rather than accepting a position with higher pay, but with “rigid in-office requirements.” Nearly half of the workers surveyed believed that a hybrid work schedule represented the ideal work structure, a sentiment echoed by 54% of hiring managers.
Salary transparency
Salary transparency was another major concern, with almost half of the workers stating their frustration with employers' lack of transparency regarding pay and benefits. 63% of workers claimed they would withdraw their consideration for a role if the hiring employer did not disclose salary ranges.
The survey also found that a slight majority of hiring managers were in favor of pay transparency. 54% believed that including salary information in job postings helped in attracting qualified candidates and streamlined the interview process.
Learn the best practices for pay transparency here.
Hiring process
A common frustration shared by both employers and workers was the perceived lengthy hiring process. Almost half of employers expressed their frustrations at not being able to secure top talent fast enough due to delays in the hiring process.
