How many Canadian employers are upping starting salaries?

Employers will be upping their spending to attract talent in 2024.

Overall, 40 per cent of employers are increasing their starting salaries while 39 per cent are adding benefits and perks, according to a Robert Half report.

Meanwhile, 36 per cent are offering remote or hybrid work options.

"Economic uncertainty and cost of living continues to be a top concern for professionals, resulting in the high prioritization of salaries as workers look towards 2024", said David King, senior managing director, Robert Half, Canada and South America.

"Now more than ever, it's crucial to for companies to ensure that they are benchmarking salaries and overall compensation, perks, and benefits, in order to both attract and retain valued talent, enhance employee satisfaction, and maintain continuity and productivity across their business."

Compensation packages, flexible work important

These should meet what jobseekers are looking for, finds Robert Half.

When it comes to cash considerations, 39 per cent workers say their greatest frustration about job hunting is not being offered a pay package in line with expectations, and more than one-third (35 per cent) of hiring managers report an uptick in job candidates who ask to negotiate compensation packages.

Also, 35 per cent of workers said they will look for a new job if they don't get a raise.

And three in four workers cite flexible work schedules as the top perk they want in a job, while 49 per cent now feel that a hybrid schedule is the ideal work structure.

Currently, 51 per cent of Gen Z and Millennials are living paycheck to paycheck, according to a previous report. And employer benefit plans are crucial to workers' mental and financial health, finds another survey.

Employers’ hiring challenges

Employers continue to face challenges when it comes to their hiring campaigns this year, according to Robert Half’s 2024 Salary Guide, based on a survey of nearly 1,700 workers and more than 1,370 hiring managers at companies with 20 or more employees.

Overall, 92 per cent of hiring managers say it’s challenging to find skilled candidates right now. The top issues they face include:

• finding talent with the right skills (52 per cent)
• finding good matches with company culture (48 per cent)
• finding professionals willing to work on-site (45 per cent)
• meeting candidates’ salary expectations (45 per cent)

Currently, the hottest jobs in the employment market are: 

• Accounts receivable/payable clerk
• Controller (Corp. accounting)
• Data engineer
• DevOps engineer
• Administrative assistant (all levels)
• Call centre manager
• Copywriter
• Digital marketing specialist
• Law clerk
• Lawyers
• HR assistant
• HR generalist

Nearly three in four (73 per cent) of Canadian hiring decision-makers feel positively about the hiring outlook for the second half of this year, reported Express Employment Professionals. That number is up from 69 per cent in the second half of 2022 and 65 per cent in the second half of 2021.