Towers Watson Data Services Releases the 2010/2011 Canadian Survey Report on
Office Personnel Compensation
- Employees working in the durable goods manufacturing sector received the largest short-term incentive awards.
- Short-term incentive awards were the most prevalent and highest in British Columbia compared with the other regions surveyed.
TORONTO, Oct. 12 /CNW/ - Towers Watson Data Services, a wholly-owned subsidiary of Towers Watson, today announced the release of its 2010/2011 Canadian Survey Report on Office Personnel Compensation.
The data are based on the responses of 228 organizations encompassing 861 locations reporting data on 24,133 incumbents. Data are presented on a total of 36 geographic areas and 99 industry classifications.
Bonus and Profit Sharing Trends
Bonus and/or profit sharing payments averaged 4.6% of base salary for all salary levels combined, with an average of 28.1% of office personnel receiving a payment. Within the four salary distinctions reported, the percent of employees receiving short-term incentives varied by close to twenty percentage points — 34.1% of employees earning between $30,000 and $39,999 received a short-term incentive payment averaging 4.4%, while 15.8% of employees earning less than $30,000 were paid a bonus and/or profit sharing award averaging 4.6%.
Industry Summary
The largest short-term incentive awards were paid to 31.7% of employees in the durable goods manufacturing sector, averaging 5.7%. The utilities and energy sector followed at an average of 5.3% paid to 40.1% of employees. Short-term incentive payments averaging less than 5% were reported within the nondurable goods manufacturing, services, insurance and health care sectors.
Geographic Summary
Employees in British Columbia, Ontario and Alberta represent the three largest groups of employees receiving a short-term incentive payment, at 32.2%, 31.1% and 30.5%, respectively. Of the three regions, employees in British Columbia fared the best receiving an average incentive payment of 4.9%; Ontario employees followed at 4.5% and Alberta at 3.9%.
Organization Size Summary
Office personnel in smaller organizations fared better than their counterparts in larger organizations. In organizations with fewer than 300 FTEs, 48.2% of employees received an average short-term incentive payment of 5.5%; whereas in organizations with 2,500 FTEs or more, 18.8% of employees received an average payment of 4.3%.
The 2010/2011 Canadian Survey Report on Office Personnel Compensation is available online, or as an online/printed report set.
About Towers Watson Data Services
Towers Watson Data Services (TWDS) is a leading provider of compensation, benefits and employment practices information to the global employer community. From offices around the world we solicit, analyze and publish an extensive library of online, printed and interactive survey reports. Our compensation databases are recognized worldwide as the most reliable source of current data for compensation planning.
Covering 97 countries across six continents, our data centers in the U.S., Canada, Europe, Asia and Latin America annually compile reports on the remuneration, benefits and employment practices of local and multinational companies. Our "in-country" experts apply their local knowledge of the varied employment markets, practices and customs to deliver a complete compensation picture that can be used to create sound, market-based pay programs for entire organizations. Our international databases contain compensation information covering millions of employees based on the annual survey participation of organizations ranging from emerging growth companies to many of the world's largest conglomerates.
In addition to compensation surveys, TWDS publishes references that help HR practitioners attract, retain and reward exceptional employees. These guides cover a wide variety of subject areas, including variable pay, performance management and personnel policies on a local, regional and global basis.
For further information:
Darcy Clark
Towers Watson Data Services
Tel: +1 877-550-4402
E-mail: [email protected]
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