Whether it’s asking for a raise or switching careers altogether, many Canadians are setting financial goals for the new year. But an increasing number of workers doubt they’ll get paid more in 2024, a new poll has found.
The management services company ADP Canada released its monthly Happiness at Work Index Wednesday, polling 1,200 Canadians in the first week of December. More than half (56 per cent) reported feeling “less optimistic” about getting a salary bump in the coming year.
“As the cost of living continues to rise, employees’ attention to compensation and benefits will do so in tandem,” said ADP Canada Vice President of Marketing Heather Haslam in a statement.
The poll found fewer people are happy at work this month compared to last, with only 44 per cent “feeling satisfied with their current role and responsibilities.”
The waning optimism comes after a year of stubborn inflation and unprecedented labour disputes. The latest is in Quebec where hundreds of thousands of public sector workers are threatening to walk off the job.
It caps off “the year of the strike” with grocery store employees, B.C. port workers and federal public servants hitting picket lines and demanding greater compensation.
Get the latest Money 123 news.
Sent to your email, every week.
Unions insist some of these striking workers now have greater protections. Last month, the federal government tabled ‘anti-scab’ legislation banning employers from hiring replacement workers during strikes in federally regulated industries, like banking, air travel and telecommunications.
Meanwhile, Ontario plans to join a growing list of provinces tabling pay transparency legislation, which requires companies to disclose salary ranges in job postings.
According to the ADP Happiness at Work Index, pay is one factor influencing worker satisfaction. It can also depend on where you live and your age.
The poll found baby boomers are the “happiest generation” in the workplace. More than half (69 per cent) are content with their jobs. It’s a different story for their children.
Millennials recorded “their lowest score to date” with 65 per cent feeling happy at work, while 68 per cent of GenZs are satisfied.
The provinces with the happiest workers are British Columbia and Quebec (69 per cent), while Ontario has some of the lowest scores (64 per cent) on the index.
But there are signs of hope when it comes to work-life balance. Almost three quarters of workers (72 per cent) are confident they’ll have a “manageable workload” in 2024.
© 2023 Global News, a division of Corus Entertainment Inc.
