Many Canadians are entering the new year with financial aspirations, whether it’s seeking a raise or contemplating a career change. However, a recent poll suggests that a growing number of workers are skeptical about receiving higher pay in 2024.
ADP Canada, a management services company, conducted a survey for its monthly Happiness at Work Index in which 1,200 Canadians were polled during the first week of December. The results revealed that 56 percent of respondents expressed “less optimism” about the prospect of receiving a salary increase in the coming year.
Heather Haslam, Vice President of Marketing at ADP Canada, noted, “As the cost of living continues to rise, employees’ attention to compensation and benefits will do so in tandem.”
The poll also indicated that fewer individuals are content with their work this month compared to the previous month, with only 44 percent reporting satisfaction with their current roles and responsibilities.
This diminished optimism follows a year characterized by persistent inflation and unprecedented labor disputes, including ongoing strikes by public sector workers in Quebec. Various labor disputes, including those involving grocery store employees, B.C. port workers, and federal public servants, have arisen throughout the year, with workers demanding better compensation.
Unions assert that some striking workers now enjoy enhanced protections. The federal government recently introduced “anti-scab” legislation, prohibiting employers in federally regulated industries from hiring replacement workers during strikes. Ontario is planning to join other provinces in implementing pay transparency legislation, which mandates the disclosure of salary ranges in job postings by companies.
According to the ADP Happiness at Work Index, compensation is a factor that influences worker satisfaction, and this can vary based on factors such as location and age. Baby boomers were found to be the “happiest generation” in the workplace, with 69 percent expressing contentment with their jobs. Conversely, millennials recorded their lowest satisfaction score to date, with 65 percent reporting happiness at work, while 68 percent of Gen Z workers expressed satisfaction.
In terms of provinces, British Columbia and Quebec had the highest proportions of content workers (69 percent), while Ontario had some of the lowest scores on the index (64 percent). Encouragingly, the survey revealed a sense of optimism regarding work-life balance, with 72 percent of respondents expressing confidence in having a “manageable workload” in 2024.