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Posted by Jim Fearon, Hays VP, on Monday, Dec 12, 2016
Are your competitors hiring? Who’s raising salaries? According to the Hays 2017 Salary Guide, Canadian employers in general feel 2016 was not as grim as expected, and many are predicting a solid rebound in economic outlook and business activity.
For example, 63 per cent of BC employers say business activity increased in 2016, and 69 per cent say it will increase again in 2017.
Sixty-seven per cent of Ontario employers also predict increasing activity, and 68 per cent of Quebec respondents say the same. Alberta’s outlook is less optimistic with 42 per cent predicting an increase, and 38 per cent saying activity will remain stable. However, this is still more confident than last year’s expectation when just one-third of Alberta employers expected an increase in activity.
Comparatively, construction employers are less optimistic about the economy with 38 per cent predicting it will strengthen, but they are more optimistic about business activity with 58 per cent saying it will increase in 2017.
This is translating into confident hiring plans, as 40 per cent say they will increase headcount next year, and 30 per cent say they intend to increase salaries by more than 3 per cent.
The ongoing skill shortage in construction across Canada is driving demand for a wide range of skills including for estimators, civil and commercial experts, and for those with multi-family experience. This could challenge employers’ team growth plans, and may be one factor causing upward pressure on salaries.
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