DMC Recruitment Group has recently concluded our most recent Survey for the Architecture & Design Industry. The survey consisted of a series of questions pertaining to the compensation package, locations, tenures, and values of Architecture professionals in Canada and aimed to be the most robust salary survey ever completed for the industry. Coming out of this survey, we wanted to touch on the importance of these surveys for the A&D Space in particular, and the value that the results of these surveys offer organizations, hiring managers, and employees.
Ensures your organization is offering competitive compensation to new employees
The recruitment market right now is hot, and firms everywhere are looking to add new talent to their teams. High quality candidates on the job search are in high demand and are likely to receive multiple job offers. This means that firms need to work harder to attract talent, and offering competitive pay is a big part of this. Employee salary surveys help hiring managers ensure that they are offering compensation that is on par with the rest of the market.
Attracts and retains employees
An additional benefit of salary surveys is that they can arm organizations with data to aid in retention strategies. By ensuring you offer competitive compensation, you can boost the satisfaction of your existing employees. At the end of the day, pay is a big factor for many people, and employees that are happy with their pay are much less likely to consider leaving. Retaining employees’ long term also helps with succession planning and is essential to any firm’s long-term success.
Promotes salary equality between employees
Salary surveys are very valuable for hiring managers and employers; however, they also offer very useful information for employees. A main way they do this is by helping employees ensure that they are being paid fairly. They let employees make sure that they are being paid what they are worth. In addition to this, they also promote pay equality and help us to work to eliminate biases (gender wage gap, etc.) that we might otherwise not be aware of.
Understanding trends and changes in the market
Regular salary surveys help Architecture professionals understand changes in the market and adapt to them as needed. By monitoring changes in standard salary and compensation packages, firms can adjust the salaries of their employees accordingly. Boosting salaries with market trends will go a long way to furthering your employee retention and reputation as an employer. Without this information, your firm may not be aware of market changes, and could lose out on potential and current employees because of it.
DMC Recruitments Salary Survey will feature data across various provinces, job titles, tenures and compensation models, and as such will provide data that is relevant to each individual reading the report. The report will reveal market trends in compensation and key findings across each of these cross sections, and will be available September of 2022. If you are interested in receiving a copy of the results when they are ready, please send your name and email address to [email protected]
