Good employees are getting harder to find, and Canadian employers expect they will have need to increase salaries in 2013, according to a new study by Hays Canada.
In a survey of 3,000 Canadian companies in November, the international recruitment firm found many Canadian companies in ramp-up mode. According to the survey, 62% of Canadian companies expect business to increase in 2013.
“In 2012, as the economy began to recover, many companies significantly ramped up recruitment to refill roles that were lost during the recession,” said Hays Canada president Rowan O’Grady.
“Hays expects hiring practices in 2013 to be largely strategic in nature, where professionals with key skill sets will cost a premium.”
Companies that are in growth mode are finding it tough to find talent, however. The survey concluded 78% of employers will experience moderate to extreme challenges recruiting top talent.
The survey also found an expectation among employers that they will have to pay their employees more.
In Vancouver, the study found that 45% of Vancouver employers expect to increase salaries by 3%, while 35% expect to increase salaries 3% to 6%, which is slightly lower than the national average expectation.
The survey found 48% of respondents planned to increase salaries by less than 3%; 37% planned increases of 3% to 6%; and 2% planned raises of 10%.
The survey found 34% of Canadian employers believe the economy will strengthen in the next six to 12 months; 55% expect it to remain static.
