SURVEYRESULTS

Q: Do you feel your current compensation is:

320 participants (candidates) responded to the following question: Do you feel your current compensation is: Below Market Rate, At Market Rate, or Above Market Rate?

Despite significantly increasing compensation across the industry in the past few years, most employees still feel they earn below the market rate. Of all salaries awarded in 2023, 467% felt they were at market rate, and 507% were below market rate This demonstrates an ongoing disparity between salary levels and expectations The results could also indicate the rise in pressures associated with the cost of living To ensure employees are paid fairly and competitively, reviewing salaries yearly and adjusting accordingly is essential. Companies must also provide pay standards reflecting each job role's current labour markets and allow for nimble adjustments to attract the right talent Market competitive compensation is critical for employee satisfaction, retention, and motivation