Vast majority of Canadian labour force willing to reduce salary to redefine personal success

Vast majority of Canadian labour force willing to reduce salary to redefine 
personal success 
New emphasis placed on benefits, career progression, company culture and bonus 
based pay 
TORONTO, Sept. 11, 2013 /CNW/ - Compensation isn't the single driving force 
for Canadians when evaluating a job opportunity. This is a key conclusion in 
the inaugural report from Hays Canada which collected data from more than 
3,000 working and nonworking Canadians in August 2013. A combination of less 
traditional remunerable factors including benefits, career progression, 
company culture/reputation and "new challenges" at work are defining what 
success looks like. 
According to the Hays report What People Want 2013 71 per cent of Canadians 
would accept a reduction in pay for a new job opportunity that met benefits, 
career progression and company reputation expectations. Forty-three per cent 
are willing to take a 20 per cent reduction in base salary for an opportunity 
to potentially earn more through performance based bonuses* highlighting how 
many Canadians can be motivated by setting clear challenges. Almost half (43 
per cent) rank "place within the organization's hierarchy" as more important 
than job title. 
"The generational mix of Canadian employees is altering how we define success 
at the workplace," said Rowan O'Grady, President, Hays Canada. "We've long 
heard about rising interest in work life balance, but businesses that stop 
there when creating employee packages will miss the mark. In virtually every 
sector we're seeing that employee demands are much more nuanced, and that 
traditional hallmarks of success such as job title and salary level are being 
replaced by a combination of measures that build a more rounded workplace 

    --  A performance related bonus is the most popular benefit that
        the Canadian labour force wants added to a benefits package.
    --  34% would accept a reduction in pay of up to 10% if offered an
        ideal job - 25% would accept a 10% to 20% pay cut.
    --  75% are unwilling to accept less vacation time as part of a new
        job offer.
    --  55% would be willing to give up flexible work options for an
        opportunity that had ideal career growth, compensation and
        company culture.
    --  After compensation, career growth is the second most important
        factor when evaluating a new job offer.
    --  "New challenges" are the most important factor for professional
        development superseding paid-for education and internal
    --  60% aspire to mid to senior levels of management, only 10%
        aspire to C-suite level.

Hays Canada's What People Want 2013 report collected data from more than 5,000 
Canadian professionals, from 16 industries and 20 functional departments 
ranging from administration to C-level executives. To download a free copy of 

Hays is an international recruitment consultancy with a strong Canadian 
presence with offices in Vancouver, Calgary, Toronto, Mississauga and Ottawa. 
Hays has more than 150 specialized consultants offering a broad range of 
corporate recruiting expertise, with particular specializations in serving the 
oil and gas, Information Technology, finance and accounting, and construction 
and property, and mining and resources sectors.

* This survey question assumed a base salary of $100, 000 with no bonus.

About Hays Canada:

Hays Specialist Recruitment Canada is a wholly owned subsidiary of Hays plc, 
which has been at the forefront of the global recruitment industry for over 
thirty-five years. With annual revenues of over £2.1 billion, Hays Specialist 
Recruitment is the largest specialist recruitment consultancy in the world.

SOURCE  Hays Canada 
Dishni Jayasuriya Media Profile Cell: 
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CO: Hays Canada
ST: Ontario
-0- Sep/11/2013 12:30 GMT
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