It Pays to Know
SURVEY OPEN SEPT 13 to OCT 28
Looking for the most up-to-date and relevant salary & compensation information? The Workforce Insights Salary and Compensation Study is open to all businesses in the Okanagan Valley. We’ve partnered with BenchMarket, a research consulting firm, to administer the study. Participating companies will receive access to the full final report, free of charge.
In addition to compensation information from the Okanagan, the final report will have salary comparisons for key regions throughout Canada including; Greater Toronto Area, Kitchener/Waterloo, and Vancouver Island.
Participating in the Study
There are two key parts components to participating in the study. Part one is a salary data sheet where you will add your roles and salary information to a template. Jobs are matched to our job families and levels. In order to calculate accurate statistics, we must collect data for each employee (part-time, full-time, and contractors). Please note that we do not require any personal or identifying information, only salary information.
Part two of the study is a survey that covers other aspects of compensation like; paid time off, benefits, stock options, and more. The survey should take about 45 minutes to complete, much less if you are a smaller team with fewer roles.
What To Expect
Canadian Salary Comparables
Access detailed salary information organized by job title and seniority level. In addition to data from the Okanagan, the final report will include comparisons to data collected from Vancouver Island, Kitchener Waterloo, and the Greater Toronto Area.
Holistic Compensation Data
Get the whole picture with data related to; Vacation, Wellness Leave and Pension, Bonuses and Incentives, Performance Management, On-call Pay, Stock Options, Travel Programs, On-Call / Overtime Pay, Personal and Short Term & Long-Term Leaves.
Student and New Grad
To improve the Okanagan Valley’s ability to keep post-secondary talent local, salary and compensation information for hiring coop students and new graduates will be made available.
To support the survey findings, Co.school and Accelerate Okanagan will host a series of community roundtable discussions, allowing for human-centric insights to be included in the final report.
BenchMarket helps Canadian organizations get a solid grasp of their biggest investment and manage it effectively by providing specialized compensation-related guidance, advice, and market intelligence. Their mission is to offer their clients the knowledge, data, and advice they need to make excellent business decisions.
BenchMarket’s commitment to maintaining the confidentiality of your organization’s data is paramount to our success. Their reports provide aggregate statistics only. Your organizational data is NEVER released to other parties. You are identified only as a participant to the database overall, never associated with the specific jobs to which you match. To preserve the confidentiality of data supplied, BenchMarket applies the following statistical rules:
For incumbent weighted data: Mean (average) data is reported only where a minimum of three companies are included in the sample. Three companies and five records are required to report 25th, 50th, and 75th percentile data. Five companies and ten records are required to present data at the 10th and 90th percentiles. In cases where the required minimum numbers of responses are not received, the corresponding results are not presented.
Workforce Conversations by Co.school
Co.school is a flexible learning community, providing co-creative education and facilitation. They guide leaders in collaboration, innovation, and transformation. In partnership with Co.school, Accelerate Okanagan will be hosting a series of workforce community conversations and roundtables for employers.
Frequently Asked Questions
What type of company can participate in the compensation study?
Any company in the Okanagan can participate! Ideally, companies with 10+ employees will sign up (the more employees, the more the data will be useful to you); however, smaller companies can participate as well—especially those that are looking to grow and hire new roles in the future.
How long will it take to fill out the compensation survey?
It will take between 40-60 minutes to fill out the survey. You can start and stop at any time before the survey closes on Friday, October 28th, 2022. If you run into any issues, the best thing to do it contact BenchMarket at email@example.com.
What kind of information will I get for completing the survey?
Once it’s available, you will receive data pertaining to:
- Vacation and Paid Time Off
- Wellness Leave and Pensions
- Cash Bonus and Incentive Plans
- Performance Management
- On-call Pay
- Stock Options
- Travel Programs
- Annual Turnover Statistics
- Coop Student and New Grad Compensation
Will I get detailed salary information or general/ranges of information?
You will receive detailed salary information sorted by job title/seniority level, with direct comparables from Vancouver Island and Kitchner/Waterloo and Greater Toronto Area.
My company has employees in the Okanagan and in other parts of Canada, which salary data do I submit?
We welcome data for all Canadian-based employees. You will be able to submit the location of your employees.
Will the survey data be anonymized?
Yes! Any personal or company data submitted will not be disclosed in the report. Salary information will be listed by position in a job family with seniority level, but not associated with any company.
Who needs to fill out the survey? HR representative?
The individual filling out the survey does not need to be an HR representative. Anyone in the company with current information on salaries and compensation practices can fill out the survey.
How will participating help my company?
Compensation packages have changed a lot in the last couple of years. Understanding the current standard will help local employers attract and retain team members.
How much does it cost to participate?
The Accelerate Okanagan Workforce Insights Study final report will be made available for free to the participating companies. The full report will be released this winter.