Canadians continue to struggle with financial stress because of rising costs
The majority of hiring managers plan to offer a bigger year-end bonus to their employees than last year, despite ongoing economic challenges, according to a new survey by recruiting firm Robert Half Canada. Those gifts are also likely to go further this year, as .
Mr. Shekhtman says bonus amounts typically increase during times of economic prosperity and strong labour market competition, neither of which is widespread this holiday season. In fact, unemployment recently reached its highest point since January of 2017 – not including the pandemic years – and high interest rates have slowed business growth this year.The fact that Canadian employers still plan to offer more generous year-end bonuses this season, according to Mr.
“Even paying a little bit more in the form of a bonus is cheaper in the long run if it helps keep some of those folks, so they’re looking at it as an investment,” he says. “It does seem like a lot of companies feel like the bleeding has stopped and are moving away from that holding pattern mindset to a mindset of growth; there’s a little bit more of that cautious optimism.”
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