From the great resignation to retention, new
ADP survey reveals key factors to retaining employees
TORONTO, July 27,
2022 /CNW/ - A new survey by ADP Canada,
conducted with Maru Public Opinion, reveals many working Canadians
took a chance on a new career opportunity in recent months.
According to the survey, nearly a quarter (24%) of respondents
indicated they were new to their current role or position.
Compensation and flexibility are
paramount to employee retention
The survey highlights compensation, flexibility and job
satisfaction as key factors in retaining employees. In a tight
talent market, employers who proactively evaluate their retention
strategies may have the opportunity to outpace their competitors to
attract and retain top talent.
While workplace flexibility has remained a core priority for
Canadians, 88 per cent of Canadian workers who are considering
changing jobs in the next six months reported compensation as their
most important determinant, according to the survey. As market
conditions evolve, it will be important for employers to revisit
compensation models to ensure they remain competitive. It appears
some organizations have already adjusted compensation models to
help retain employees: over a quarter of respondents (27%) said
they received a non-performance related pay raise in the last six
months, and over a third (37%) said these raises were above 5 per
cent.
Job satisfaction is high, and it's
up to employers to keep it that way
According to the survey, Canadian workers appear to be satisfied
with their job and workplace environment. When asked why they would
stay in their current positions, 93 per cent of respondents said
they are happy in their current role, and nine-in-ten indicated
they are satisfied with their workplace environment.
While this is great news for employers, the survey also
highlights many of these workers are new to their roles and as
workplaces continue to change rapidly, employee expectations will
continue to evolve. To retain the best talent, it is important for
employers to track the various factors that may impact overall job
satisfaction. This can be achieved by collecting regular feedback
through anonymous surveys and by creating a regular cadence of
check-ins to identify current priorities, concerns, and needs.
"These findings highlight the wide range of factors that play a
role in employee retention, most importantly the growing need for
job flexibility and competitive compensation," says Ed Yuen, Vice President, Strategy and HR
Outsourcing at ADP Canada. "While many Canadians find themselves in
a new job, employers also need to put the focus on those who stayed
in their roles. It's now time for the "Great Recognition" and to
build a culture of appreciation."
Survey Methodology
These are some of the findings of a survey undertaken
by Maru Public Opinion from June 29th to June 30th
2022, of 1,512 randomly selected Canadian adults who are
Maru Voice Canada online panelists.
For comparison purposes, a probability sample of this size that is
comprised of full-time employed respondents used in this study has
an estimated margin of error (which measures sampling variability)
of +/- 2.5%, 19 times out of 20. Discrepancies in or between totals
when compared to the data tables are due to rounding. The
results of this study have been weighted by education, age, gender
and region (and in Quebec,
language) to match the population, according to Census data. This
is to ensure the sample is representative of the entire adult
population of Canada.
About ADP Canada
Designing better ways to work through cutting-edge products,
premium services and exceptional experiences that enable people to
reach their full potential. HR, Talent, Time Management,
Benefits and Payroll. Informed by data and designed for people.
For more information about ADP Canada visit www.adp.ca or follow
us on Twitter @ADP_CDA.
SOURCE ADP Canada Co.