Do You Deserve a Raise? It Could Be Coming Soon

For some of us a pay rise has been a long time coming. Just as you thought you were about due that little extra on your weekly cheque, the recession hit, and well, we all know what happened there. But bosses are beginning to show signs the tide is turning, at least if you're one of their better workers.

It all comes back to the 'skills shortage.' We haven't heard much about it since the economic downturn, although Prime Minister Stephen Harper did mention that the problem would resurface as soon as the economy began to mend. That time has come and as the unemployment rate begins to work its way back down, bosses are going to want to hang on to their good staff, and one sure-fire way to do that is by showing the money.

So, how many bosses are thinking of rewarding their staff?


Luckily, 77% of executives say they are willing to "sweeten the pot" in some way to avoid losing good staff as other job offers begin to surface, a survey by Accountemps shows. More than half say they will spend more on professional development for staff, 46% say they will promote their best staff, 42% say they intend to raise salaries to retain their best staff, and 28% say they would reinstate or increase bonuses.

The key to this survey is that it revolves around bosses keeping their 'best' staff, so if the recession got you down and you lost motivation at work as colleagues were made redundant or bonuses were slashed, now is the time to get over it and put your best foot forward. While bosses might not say anything, they do notice little changes in the behaviour of their staff.

The unemployment rate dipped to a 10-month low of 8.2% in February after reaching as high as 8.6% half way through last year. While the rate is still higher than normal, it is expected to continue to fall as the economy improves.

"Improving economic conditions means more plentiful career opportunities for workers, including a company's most valuable employees," says Deborah Bottineau, a vice president with Accountemps' Canada. "Retention needs to be a primary concern for employers or they risk losing their top performers and competitive edge."