While “the great resignation” seems to have slowed alongside the rising costs of living, a new survey reveals some determining factors employees require in order to stay with their current employer or make a move to another company.
The survey by ADP Canada suggests that 88 per cent of Canadian workers who are considering changing jobs in the next six months believe compensation to be their most important determinant alongside flexibility in a role.
And with roughly a quarter of respondents confirming that they have already changed jobs within the last few months, companies are now shifting their focus to retaining their best workers through proper reimbursement in an attempt to combat the trend.
For example, over a quarter of respondents said they received a non-performance-related pay increase in the last six months. A third confirmed these raises were above 5 per cent, not far behind Canada’s current rate of inflation.
While many Canadians find themselves in a new job, employers also need to put the focus on those who stayed in their roles.
“It’s now time for the ‘Great Recognition’ and to build a culture of appreciation,” says Ed Yuen, Vice President, Strategy and HR Outsourcing at ADP Canada.
Although 93 per cent of respondents said they are happy in their current roles, many of these workers are new to their position.