MONTREAL, Dec. 12, 2023 - As 2024 approaches, the Canadian labour market is set to witness major changes, making well-being and remuneration a top priority for those looking for work. These are the findings of Randstad Canada's 2024 Salary Guide, an invaluable resource for understanding and predicting major trends in the employment sector. This annual guide published by Randstad is a trusted tool for both talents and businesses in the recruitment and human resource sectors; it provides an in-depth analysis of the changes emerging for both employers and employees, as well as salary trends across Canada for more than 600 positions in 59 cities, broken down by province and field of employment. From programming and welding to specialized management roles, countless professions are listed. With the year coming to an end, let's take a look at the current work landscape as it reshapes itself.
Canadians Seek Work-Life Balance
While salary and career development have long influenced potential candidates, a profound transformation is underway. Randstad's 2023 Employer Brand Research highlights an undeniable shift: when choosing an employer, 76% of workers now prioritize non material benefits, such as flexible working hours and location, training and recognition, as well as the company's values, while 79% consider adequate compensation to be relevant in their decision.
The importance of working from home and having flexible hours is growing. This is a key finding, as many Canadians would now consider changing jobs if asked to return to a full-time, in-person work model. Randstad Canada's Salary Guide also points out that 40% of people surveyed would be likely to change jobs in search of a better work-life balance, which is still the main reason for quitting, followed closely by insufficient pay in relation to the rising cost of living.
"This transition marks a significant turning point where well-being at work has nearly become equal to salary in employees' considerations for 2023. The past few years have led to radical changes in the job market, and we observe employees who are less and less willing to part with the benefits gained since the pandemic," says Brent Dul, Executive Vice President at Randstad Canada. This is all the more paramount for women and people with higher levels of education, who place greater importance on non-material benefits."
Seeking Personal Values Alignment and Gender Equity
Besides their own benefits, employees want to work for companies that share their values and promote inclusion and fairness, amongst other things. The Randstad research found that 23% of Canadian employees would rather be unemployed than work for a company that doesn't align with their personal values. The same applies to gender pay equity. While gender pay gaps are narrowing, challenges remain: many women still don't feel valued or fairly compensated in their professional environment. The statistics speak for themselves:
- 32% of women feel that no significant progress has been made toward gender equality in the workplace, while 25% report that their employers merely talk about the issue, without taking concrete action.
- 63% of women feel that their proclaimed opportunity equality is not reflected in their professional experience.
To attract and keep the best talents, and above all, to fulfill employees' values and needs, employers must introduce practices that reflect flexibility, diversity and inclusion, fair compensation, salary transparency, and ongoing training.
The Key to Navigating a Changing Market
Once again this year, the Randstad Salary Guide proves to be a precious resource for employers looking to build solid, stable recruitment strategies. This tool also serves employees and potential candidates wishing to keep up to date with salary trends and standards to guide their negotiations and improve their working conditions. The data is provided by the Economic Research Institute and Canadian employers and is verified by Randstad's sectoral specialists across the country.
For further information and to access the 2024 Salary Guide, visit Randstad's website.
About Randstad
Randstad is the world's largest talent company and a partner of choice to clients. We are committed to providing equitable opportunities to people from all backgrounds and helping them remain relevant in the rapidly changing world of work. We have a deep understanding of the labour market and help our clients create the high-quality, diverse and agile workforces they need to succeed. Our 46,000 employees around the world make a positive impact on society by helping people to realize their full potential throughout their working life. For more information, visit randstad.ca.