Higher pay motivates half of Canadian workers to find new job in 2023: data

A desire for higher pay amid soaring inflation is motivating half of Canadian workers to look for a new role in 2023, according to new data.

The latest research gathered by business consulting firm Robert Half suggests the increase in job seekers is up 31 per cent from six months ago.

“The prices of food and fuel. Everything is going up and salaries haven’t necessarily gone up at the same amount throughout the year,” said Michael French, national director at Robert Half.

“People are saying ‘The job market is really strong. I can probably get myself a bit of a bigger bump if I make a change.’”

The responses of more than 1,100 professionals – including accountants, administrators and lawyers – were reflected in the company’s biannual Job Optimism Survey.

In addition to a salary boost, workers are looking to make a career move for better benefits and perks and greater flexibility to choose when and where they work.

Comfortable Employees Most Likely to Quit

The survey indicates that employees who have been with a company for two to four years are more likely to change jobs than working parents, Generation Z and Millennials, and technology professionals.

French said this particular group of workers may feel complacent and aspire to find a new job opportunity to advance their career.

READ MORE: Annual inflation rate was 6.9% in September: StatCan

“Once you’ve been at the company for two or four years, you’ve gotten established, you definitely have proven yourself,” he said.

However, if an employee is not receiving the recognition they think they deserve for their efforts, it’s likely they will eye greener pastures.

How to Retain Employees

On top of offering a competitive salary, French said employers concerned about losing team members should remind their employees of the value of their work.

“Talk about the why, the value it brings to the organization, the changes they make in people’s lives and…how important this work is to the greater community,” he said.

READ MORE: Unemployment rate rises to 5.4 per cent in August, economy loses 40K jobs

French also suggested employers discuss what their worker’s goals are and what their career can look like at the company.

Robert Half has published four biannual Job Optimism Surveys, which track worker sentiment on current and future career prospects and reveal implications for employers.