Compensation Top Factor For Talent Retention

Nearly a quarter of Canadians (24 per cent) changed jobs in recent months, underlining the importance of retaining talent for employers, says a survey by ADP Canada. The survey identifies compensation, flexibility, and job satisfaction as key factors in retaining employees. While workplace flexibility has remained a core priority for Canadians, 88 per cent of Canadian workers who are considering changing jobs in the next six months say compensation is their most important determinant. ADP says that as market conditions evolve, it will be important for employers to revisit compensation models to ensure they remain competitive. And it appears some organizations have already adjusted their compensation models. Over a quarter of respondents (27 per cent) have received a non-performance related pay raise in the last six months and over a third (37 per cent) say these raises were above five per cent.