LATEST NEWS


A Snapshot of Canada's Current Economic and Human Capital Trends


July 3, 2020

Summary of 2020 Spring Flash Compensation Update Survey



The results included within this summary are based on over 400 participants in the 2020 Spring Flash Compensation Update Survey. Survey submissions were collected between May and June 2020. The focus of this report is on the impact COVID-19 has had on key Total Rewards Programs, as well as human capital management strategies in use in today's workplace. We have also compared some factors to Flash Surveys from previous years to determine the relative impact on economic and human capital strategies.

The Wynford Group encourages you to contact us for more information on how we can work with your organization in addressing its Total Rewards needs.

For more detailed insights and in-depth data, please see our annual Canadian Salary Surveys. Click Here for more information.

Watch for the 2020 CSS Survey results which are coming soon!


2020 Base Salary Adjustments

Average Annual Base Salary Adjustments – By Industry

All
-1.52%
Utility/Telecom
2.40%
IT Services
2.10%
Financial Services
2.08%
Logistics/Transportation/Distribution
-0.42%
Manufacturing
-2.00%
Construction
-7.50%
Energy/Energy Services
-8.44%
 

Economic Environment

Spring 2020 vs Spring 2019 Economic Environment
**2019 decline numbers were not categorized to the specificity as 2020, therefore they are presented as the moderate category in this report.

The chart above contrasts the economic outlook from Spring 2020 against Spring 2019. Key trends include:

  • In 2019, 57% of organizations across Canada experienced significant growth across Canada, a far cry away from the 4% of organizations expecting growth in 2020.

  • 38% of organizations have indicated moderate decline in 2020 opposed to 3% in 2019.

  • Overall, an unprecedented 71% of participants indicated some level of economic decline in 2020. This has been likened to the "Great Depression of the 1930s," although the current situation is not expected to have the same long-term impact.
Human Capital Practices

Human Capital Practices - Full 2020 Breakdown
Human Capital Practices have changed drastically in the first half of 2020. Key trends include:

  • Overall, organizations are tending to implement freezes across multiple categories. Collectively, organizations are "waiting to see" when there is a return to normality or until they have developed new strategies to adjust to the new environment.

  • The decrease in hours of work (35%), and the number of employees (35%) are significant, and can be viewed as a direct response to the need to protect employees from the virus as well as the slowing economy.

  • The reduction in the number of new grads/interns (22%) indicates a general slowdown and uncertainty about the future.

  • The Construction industry continues to invest in labour as organizations are increasing spending on Training Budget and taking on a larger Number of Grads.
Additional/Hazard Pay

Additional/Hazard Pay (Applicable)
Additional/Hazard Pay (Considering)
Additional Compensation Summary:

  • The average cash Incentive that is a flat dollar amount is $16.16 per day.

  • The average cash incentive for other than flat dollar amount is 15% of the employee's wages.

  • Average premium tied to shifts and hours worked is $1.46/hr.
Human Capital Cost Management Strategies – 2020 Industry Breakdown

Human Capital Cost Management Strategies – 2020 Industry Breakdown
The review of Human Capital Cost Management Strategies indicate there are several industry sectors that have differing approaches regarding how they are implemented during the pandemic. Key highlights include:

  • Most rollbacks – Energy/Energy Services (35% executive and 25% non-executive) and Logistics/Transportation/Distribution (35% executive and 18% non-executive).

  • Most layoffs – Construction (38% permanent and 51% temporary) and Energy/Energy Services (30% permanent and 43% temporary).

  • Least rollbacks – Healthcare (<1% executive and 4% non-executive) and Financial Services (8% executive and 4% non-executive).

  • Least layoffs – Healthcare (8% permanent and 23% temporary) and Retail (6% permanent and 30% temporary).
Actions Organizations Will Take Post COVID-19

Actions Organizations Will Take Post COVID-19
The graph above, displaying the several actions organizations will take as they emerge from COVID-19, shows that there are some organizational practices that remain a larger priority than others. Highlights include:

  • The vast majority of organizations across all industries expect to:
    • increase safety standards while employing sanitary measures around the work space
    • increase the availability of technology and equipment for a more flexible work arrangement
    • develop better business continuity plans
Construction and Mining Survey participation is still open until July 10th.
Please contact us at wynford@wynfordgroup.com or 1-877-264-5166 with any questions or concerns.

IMPORTANT DATES
Canadian Salary Survey Initial Online reports Distribution – Mid September 2020
Construction and Mining Initial Online reports Distribution – Early October 2020
Executive Initial Online Distribution – Mid October 2020

14th Annual Compensation Update Seminar
Edmonton – TBA
Calgary – TBA

2020 Fall Flash Survey – November

Need More In-Depth Information?

Wynford's Canadian Salary Surveys are just what you're looking for! Our user friendly cash data reports are broken down by three simple features including: Location, Industry and Revenue/Organization.

Wynford Group Surveys Expand for 2020!


February 19, 2020

2020 New Features

We are pleased to announce some exciting new features for the 2020 Wynford Surveys!

  • Building on the success established in 2019, a partnership with Morneau Shepell has enabled Wynford Group to capture a significantly larger portion of the market and expand across Canada.
  • Having surpassed 600 participants and solidifying full national coverage going into 2020, the Canadian Salary Surveys are the fastest growing salary surveys in the nation!
  • The Wynford Group now offers over 1250 Comprehensive Benchmarks across 176 job families within the Canadian Salary Surveys
  • The Canadian Salary Survey Questionnaire has now been reduced and simplified while still capturing vital information on employer practices.
  • The survey is now bilingual which now enables organizations to view and participate in surveys in both English and French Language.
2020 Canadian Salary Surveys are coming soon! Click here for the full survey schedule and click here for more information on the surveys.

The Wynford Group offers a complete range of services that can help you build your Total Rewards Program from the ground up. Our services include:
  • Competitive Market for over 600 organizations through our Canadian Salary Surveys
  • Developing competitive total rewards structures
  • Designing short-term incentives such as commission, production bonuses, profit sharing
  • Designing long-term incentives (equity, phantom, or cash-based)
  • Developing Role Profiles to recruit new talent
  • Developing Executive Compensation programs

 

Contact Us: wynford@wynfordgroup.com
1-877-264-5166
Linkedin Twitter The Wynford Group