Salary/compensation study launched in Okanagan

A non-profit agency is looking for companies to take part in an analysis of salary and compensation in the Okanagan.

Accelerate Okanagan is launching a Workforce Insights | Okanagan Salary and Compensation Study, which in addition to salaries, will assess peripheral aspects of compensation and benefits, like paid time off, bonuses, and stock options.

The review will be administered by BenchMarket, a research consulting firm that specializes in compensation and HR policies.

The study will be open to Okanagan companies from September 13 to November 4, and is designed to support businesses that are looking to assess their salary and compensation practices.

“We want to provide local business owners with a holistic picture of what compensation looks like in today’s competitive global market,” says Brea Lake, CEO of Accelerate Okanagan. “It has become critical for employers to understand how compensation affects not only their ability to recruit but also how it affects their ability to retain their employees.”

In addition to compensation information from the Okanagan, the final report will have salary comparisons for key regions throughout Canada including; Greater Toronto Area, Kitchener/Waterloo, and Vancouver Island.

“Between hybrid work environments and cost-of-living, a lot has changed in the last couple of years, and keeping on top of where salaries should be has been a challenge,” says Rob Barlett, CEO of Wtfast, a gaming network company based in Kelowna. “We are eager to see this report to make sure our compensation is in line with industry standards.”

The study is not limited to companies in the technology sector. All Okanagan businesses are invited to participate.

All participants will receive access to the final report free of charge.

Companies looking for more information and to take part in the study can visit Accelerate Okanagan’s website.