Salary plays an important role in the job search and recruiting process.
It is an important consideration when people choose a career path and look for a job. As an employer, it’s important to offer a competitive salary that reflects the value of the work being done by the employee. Money is always part of the hiring process.
With the Ontario government recently increasing the minimum wage in the province to $15 per hour, it got us thinking about other jobs and employers who have increased their entry-level salaries in the past year.
Which careers are in high demand now? Which companies are increasing their salary offerings to attract talent? Below, we outline some of the latest news around jobs and companies that are increasing compensation.
There are a lot of companies that are increasing their payrolls in 2022. According to a recent survey from the think tank Conference Board, companies are projecting a 3.9% increase in their payroll for this year. This is a higher increase than in previous years.
So, why are companies increasing rates?
Companies in industries that are having a challenging time finding and keeping employees top the list of those who are offering pay raises.
Amazon Canada recently make headlines for their announced revisions to their pay structure. The company is on a hiring spree. They are expected to add 15,000 new jobs.
“Amazon also announced it will increase the starting wage for its front-line, hourly employees in Canada to between $17 an hour and $21.65 an hour, up from its current starting wage of around $16 an hour,” says Amanda Stephenson on Global News.
“Existing employees will also receive an additional $1.60 to $2.20 per hour, starting immediately, Amazon said, “regardless of how long they’ve been with the company.”
Other companies in the retail and the service industry that are increasing wages include Starbucks, Walmart, Costco, and other large brands.
The industries that are struggling to find workers will commonly increase salary offerings as a way to entice people to work for them. Some of the most in-demand jobs where salaries could be in the rise include:
These are some of the many jobs that are offering more competitive salaries. Speak with our recruiting experts if you are looking to make a career move this year.
IQ PARTNERS is an Executive Search & Recruitment firm supporting clients across the country. We help companies hire better, hire less & retain more. We have specialist teams of recruiters in Executive Search / Board & C-Suite, Technology, Media, Digital & Marketing, Accounting & Finance, Financial Services & Insurance, Cannabis, Startup, Data Science, Consumer, eCommerce & Retail, Operations & HR, Manufacturing, Supply Chain & Engineering, Legal & Professional Services, Pharmaceutical & Life Sciences, Non-Profit & Sustainability, and Sales. Click here to view current job openings and to register with us.
Paige Allen is a Recruitment Consultant on the Marketing Services team, specializing in Public Relations, Marketing Communications and Pharma. Prior to joining IQ PARTNERS, Paige worked in customer service and IT Procurement, where she developed a passion for people and aptitude for research and analytics.