KELOWNA – Accelerate Okanagan wants to uncover answers surrounding the unknowns and certainties when it comes to employee salaries and compensation. Starting September 13th, companies are invited to participate in Accelerate Okanagan’s Workforce Insights Salary and Compensation Study. In addition to salaries, the comprehensive report will assess peripheral aspects of compensation and benefits, like paid time off, bonuses, and stock options.
“We want to provide local business owners with a holistic picture of what compensation looks like in today’s competitive global market,” says Brea Lake, CEO of Accelerate Okanagan. “It has become critical for employers to understand how compensation affects not only their ability to recruit but also how it affects their ability to retain their employees.”
To conduct the study, Accelerate Okanagan has teamed up with BenchMarket, a research consulting firm that specializes in compensation and HR policies. BenchMarket conducts a similar study on Vancouver Island and across Ontario. Companies participating in the Okanagan Study will have the ability to compare salary data against these other regions. These national comparisons are critical for business owners that are looking to hire remote workers across Canada and stay competitive.
“Between hybrid work environments and cost-of-living, a lot has changed in the last couple of years, and keeping on top of where salaries should be has been a challenge,” says Rob Barlett, CEO of Wtfast. “We are eager to see this report to make sure our compensation is in line with industry standards.”
Providing employers with the insights they need to make data-informed decisions adds a level of transparency and confidence to how the business operates. This study comes at a critical time when national inflation is on the rise and Canada’s tech sector has seen many mass layoffs. With growing uncertainty from both employers and employees, it is important to evaluate the current trends to really understand what is going on in the Okanagan region.
The Workforce Insights Okanagan Salary and Compensation Study is not limited to companies in the technology sector, all Okanagan businesses are invited to participate. While technical roles will be highlighted, businesses with SaleAs, Marketing, Administrative, and Executive teams are also encouraged to join. All participants will receive access to the final report free of charge.
Companies looking for more information and to participate in the study can visit Accelerate Okanagan’s website here