Despite the coming of the fourth wave, the outlook of the economic rollout over the coming months offers some optimism. Different industry sectors that suffered shutdowns are slowly, but surely, getting back on track. Government support measures are also answering the call.
Still, Quebec employers aren’t out of the woods yet. The labour shortage is intensifying, and salary levels are bearing witness to this though not equally across all sectors. We may now also be faced with what experts are calling “The Great Resignation.” The pandemic having compelled many members of the workforce to rethink their priorities, some analysts foresee a period during which the number resignations will jump. According to Microsoft’s 2021 Work Trend Index, a significant proportion of workers around the world (42%) are thinking about leaving their current job in the coming year. Employers would be well advised to keep this in mind and look at shoring up their talent retention efforts.
Salary considerations aside, a number of now inescapable questions are also elbowing their way into the mix, such as work-life balance and the extent to which telecommuting will be maintained going forward, not to mention vaccine passports and vaccination mandates. Each as salient to workers as they are to employers, they are now all part of the equation when it comes to attracting and retaining talent.
In looking at salaries, Canada, Quebec finds itself leading the pack with projected salary increases slightly higher than the national average.
With such a unique landscape before us, the CPQ’s Special Report on Salary Forecasts gives employers an opportunity to better understand key pay trends for the coming year. With the economic recovery unmistakably underway, the launch of this publication takes on all the more meaning.
Thanks to the irreplaceable contributions of its partners, this CPQ special report offers employers expert projections to help them contextualize and implement compensation strategies that are in tune with trends in different industry sectors and job categories.
Aimed at helping employers, managers, and human resource professionals navigate the uncertainty and turbulence that continue to characterize the landscape, the projections developed by our partner compensation experts should help light the way.
You can also download the PDF document from the right-hand column. On smartphone and tablet, click on "Additional Information" at the top of the screen.