- Short-term incentive awards were most prevalent amongst employees
earning $150,000 or more.
- Logistics and manufacturing personnel in the Atlantic Provinces
received the highest average short-term incentive payment among the
TORONTO, Jan. 19 /CNW/ - Towers Watson Data Services, a wholly-owned subsidiary of Towers Watson, today announced the release of its 2009/2010 Canadian Survey Report on Logistics & Manufacturing Personnel Compensation.
The data are based on the responses of 225 organizations encompassing 943 locations reporting data on 27,021 incumbents. Data are presented on a total of 31 geographic areas and 84 industry classifications.
Bonus and Profit Sharing Trends
Bonus and/or other cash compensation averaged 8.5 percent of salary for all salary levels combined, with an average of 40.6 percent of logistics and manufacturing personnel receiving a payment. Within the six salary level distinctions reported, the percentage of employees receiving short-term incentives varied by more than 40 percentage points--70.2 percent of employees earning $150,000 or more received a short-term incentive payment averaging 28.2 percent of salary, while 27.5 percent of employees earning less than $40,000 were paid a bonus and/or other cash compensation award averaging 4.4 percent of salary.
In terms of industry, the largest short-term incentive awards were paid to 22.3 percent of employees working in the Utilities and Energy Sector, averaging 13.8 percent of salary, followed by the Retail and Wholesale Trade Sector (32.9 percent of employees received an average of 9.6 percent of salary). Following closely behind was the Non-Durable Goods Manufacturing Sector, in which 48.9 percent of employees were paid an average of 9.4 percent of salary.
Employees in Ontario, British Columbia and Manitoba/Saskatchewan represent the three largest groups of employees receiving a short-term incentive payment, at 47.8 percent, 41.3 percent and 37.3 percent, respectively. Of the three regions, employees in Manitoba/Saskatchewan fared the best receiving an average incentive payment of 8.9 percent of salary; Ontario employees followed with 8.4 percent of salary and British Columbia employees received 8.2 percent of salary. Employees in Atlantic Canada received the highest average short-term incentive among all of the regions surveyed, at 10.5 percent of salary.
The 2009/2010 Canadian Survey Report on Logistics & Manufacturing Personnel Compensation is available online, or as an online/printed report set.
About Towers Watson Data Services
Towers Watson Data Services (TWDS) is a leading provider of compensation, benefits and employment practices information to the global employer community. From offices around the world we solicit, analyze and publish an extensive library of online, printed and interactive survey reports. Our compensation databases are recognized worldwide as the most reliable source of current data for compensation planning.
Covering 97 countries across six continents, our data centers in the U.S., Canada, Europe, Asia and Latin America annually compile reports on the remuneration, benefits and employment practices of local and multinational companies. Our "in-country" experts apply their local knowledge of the varied employment markets, practices and customs to deliver a complete compensation picture that can be used to create sound, market-based pay programs for entire organizations. Our international databases contain compensation information covering millions of employees based on the annual survey participation of organizations ranging from emerging growth companies to many of the world's largest conglomerates.
In addition to compensation surveys, TWDS publishes references that help HR practitioners attract, retain and reward exceptional employees. These guides cover a wide variety of subject areas, including variable pay, performance management and personnel policies on a local, regional and global basis.
SOURCE TOWERS WATSON DATA SERVICES
For further information: For further information: Cherie Langevin, Towers Watson Data Services, Tel: (416) 813-4428, E-mail: Cherie.Langevin@towerswatson.com