Looking for reliable and relevant data to help you provide a competitive compensation package? We’re here to help.
Starting September 13th, Accelerate Okanagan is inviting companies to participate in the Workforce Insights Salary and Compensation Study. This comprehensive study will analyze data provided by companies of all sizes and industries to create a compensation report that reflects the current compensation landscape in the Okanagan. We hope these insights will enable local businesses to improve their ability to attract and retain talent.
To support this Study, we are partnering with BenchMarket, a research consulting firm that specializes in compensation and HR policies.
We sat down with Accelerate Okanagan CEO, Brea Lake, to learn more about the Study, find out why companies should participate, what they can expect and what they can look forward to.
What is the Workforce Insights Salary and Compensation Study?
The Study is a comprehensive survey and data analysis that is open to all businesses in the Okanagan Valley. Anyone who is interested in understanding how their salaries and compensation packages measure up is encouraged to participate. In addition to compensation information from the Okanagan, the final report will have salary comparisons for key regions throughout Canada including; Ottawa, Greater Toronto Area, Kitchener/Waterloo, Vancouver, and Vancouver Island.
Who can participate in the Study?
Any and all businesses that are employing individuals in the Okanagan are encouraged to participate. The more data that BenchMarket can reference in the Study, the more accurate and actionable the results will be for participating companies.
While technical roles will be highlighted, the final report will contain helpful information for almost every role within an organization. If you have sales teams, brand and marketing teams, administrative roles or executive teams, you and your business will get value from participating in the Study. You can view the job families and level guide here for a list of roles BenchMarket already has salary insights for.
How does the Study benefit participating businesses?
If you want to recruit or retain your staff, it’s critical that you provide a competitive compensation package. The results of this study will give participating companies the information they need to make data-informed decisions for their employee’s salary and benefits.
What is included in the Study’s final report?
Once the Workforce Insights study is complete, participating companies will have access to detailed and organized salary information, as well as the ability to compare that information to data collected from Vancouver Island, Kitchener Waterloo, and the Greater Toronto Area. This data will also include information relevant to hiring co-op students and new graduates. It’s important to recognize that competitive compensation doesn’t end with salaries. That’s why there will also be information related to vacation, wellness leave, pension, bonuses, stock options and more.
When will the results of the Study be available?
We plan to release the results of the Study this winter. Companies participating in the study will be the first to receive the report and receive access to the data free of charge. Participating in the survey takes approximately 45 minutes to complete, so it is well worth the time in order to access the full data set this winter.
Want to participate?
Help create a comprehensive salary and compensation resource that will benefit the entire Okanagan Valley.Learn More About Workforce Insights