The global pandemic Covid-19 brought forward many uncertainties and new challenges. However, there are a few positives as well. The excessive job losses as people switched careers or resigned have given leverage to the candidates to ask for better pay grades and benefits.
The situation in Canada is not as bad as in the US due to the Great Resignation. However, employers are having trouble finding highly-skilled candidates for job positions as economic lockdown eases. In the midst of employee scarcity, the potential candidates are utilizing the chance to demand better compensation to improve the overall working experience.
New Reality of the Hiring World
The CEO of Gallagher Benefits & HR Consulting Canada, Melanie Jeannotte, believes that the employee-employer contract has revolutionized in the past two years. This new reality has put employers under more pressure than ever to cater to us.
Ms.Jeannotte pointed out three things to evaluate while considering a job offer— compensation, benefits, and the path to career advancement.
Gallagher conducted a survey and discovered that roughly one-third of companies offer compensation above salary ranges. A similar percentage of companies are offering Sign-on bonuses as well to avoid the long-term financial commitment of a pay raise. So, beware! Keep the option open to ask for a salary raise in the future.
The Employee-saving plan has also now become a vital part of the offer. Instead of money going into a retirement plan, it goes into non-registered savings plans, viable for various goals.
Estimating the benefits of a job is easy if you assess how much value these benefits hold for you. You should ideally look for benefits such as medical insurance, fertility accommodations, telehealth, mental health services, or any other benefit you may require to improve your life financially and emotionally.
Remember, these benefits are subjective. So, make sure these are suitable as per your needs.
Career Advancement Opportunities
While comparing job offers, pay close attention to the path to career development in a company. For example, does your employer offer training, career development, or leadership programs? Is there any space for promotion and moving upward in the company’s hierarchy?
Remember, you don’t want your career to be stagnant. On the contrary, if you are excited about the progress, you will be more successful and happy at your job.
The bottom line is that it is wise to use the leverage that the global pandemic has provided to the candidates looking for a new job.
Moreover, you can also ask your employers about their policy on flexible scheduling and work-from-home as it can help in minimizing travel expenses, child care costs, etc.