Canadian Employees Enter New Year with Bright Expectations
Findings from Randstad's latest Global Workmonitor, surveying employees in 32 countries around the world, indicate that Canadian employees will head into the New Year with a bright outlook and higher expectations about their work life.
Hanna Vineberg, VP of Central Ontario, for Randstad Canada says that in 2012, the company’s internal figures show a positive increase in overall demand when compared to 2011. “Over the past year we have seen an increasing number of companies show a willingness to look at how they can grow their business through strategic investments and by investing in their people – there is a lot of opportunity,” she says.
“A few of the divisions which showed an increase in 2012 compared to 2011 were Accounting and Finance Support , Administrative Support, Finance & Accounting, Industrial Support and Skilled Trades and Industrial Management,” explains Vineberg. “We’ve also seen an increase in demand in Canada’s western provinces (2012 compared to 2011) while the skilled trades also continue to be a growing sector in Quebec,” she says.
According to Vineberg, despite lingering economic uncertainty the positive findings reflect a general view that progress has been made. “Although the Canadian employment market has had its share of challenges over the years, there remains abundant cause for us to be optimistic as we enter the new year,” explains Vineberg. “The economy is growing. The OECD forecasts Canada continuing to outpace its Group of Seven peers in economic growth over the next 50 years.
Supporting this view are the results of the most recent Workmonitor survey. The numbers indicate that most employees feel the economic situation in Canada is good (62%) and are optimistic about next year. Two thirds of Canadian respondents also say they expect that the situation will improve next year (65%). Additionally four in every five companies are performing well financially (80%). Three out of four expect to do even better next year (74%).
The survey indicates many Canadians are optimistic about several key aspects of their work life in 2013 and are looking ahead through positive eyes. “That’s great news,” says Vineberg. “The results of the survey are especially good news for employers. The confidence that Canada’s employees have, means they will then have the confidence to invest in themselves and in their organization,” she says.
On the other hand, global results differ as over 61 per cent of employees globally label the economic situation in their country as “bad”. The highest scores are from Greece (98%), Spain (96%), Hungary and Italy (both 94%). The number of global employees who think the economic situation in their country is “good” ranks highest in Norway (94%), Switzerland (87%) and Sweden (74%). Similarly, two thirds of global employees say they expect the financial performance of their organization to improve in 2013. Brazil (86%) and India (92%) rank highest in their expectations while Greece (32%), Luxembourg (38%) and Japan (39%) are more reserved in their expectations.
When it comes to yearly raises and bonuses most employees feel stronger about deserving a financial reward. 65 per cent of Canadian workers say they received a pay raise in 2012 compared to 2011. On trend, 74 per cent of Canadian employees expect their salaries to rise in 2013, and 64 per cent feel they should receive a one-time reward/bonus for their achievements in 2012. But despite the positive outlook, only 35 per cent of Canadians expect to receive a yearly bonus.
In other parts of the world, financial expectations for 2013 are high. Globally, 76 per cent of the world’s respondents feel they should receive a financial reward or one-off bonus, based on their achievements in 2012. Yet only 53 per cent expect to actually receive such a reward.
Interestingly enough, much of the world, including Canada agrees that achieving a work life balance in 2013 is important. According to the survey results, 69 per cent of Canadian workers say their workload increased in 2012 while 75 per cent say they want a better work life balance in 2013. While on a global scale, 80 per cent of respondent say they would like a better work-life balance in 2013. Mexico (87%), Hong Kong (96%) and Chile (96%) rank the highest in this need while this wish is present but not felt as strongly in Denmark (64%), Netherlands (66%) and Belgium (67%).
The Randstad Workmonitor: After the successful introduction of the Workmonitor in the Netherlands in 2003 and more recently in Germany, the survey now covers 32 countries around the world, encompassing Europe, Asia Pacific and the Americas.
The Randstad Workmonitor is published four times a year, making both local and global trends in mobility regularly visible over time. The quantitative study is conducted via an online questionnaire among a population aged 18-65, working a minimum of 24 hours a week in a paid job (not self-employed). The minimal sample size is 400 interviews per country, using Survey Sampling International. Research for the third wave in 2012 was conducted from October 18 to November 6, 2012.
For the complete set of findings, including comments on differences in opinion by generation, gender and education, visit: http://www.randstad.com/press-room/research-reports.
For further information contact:
Dayana Fraser 416.962.9578 x2317
Marie-Noelle Morency 514.350.5309 x233