- Short-term incentive awards were highest for employees working in the
Retail and Whole Trade Sector.
- Short-term incentive payments were more prevalent among managers and
supervisors working in Quebec compared to other provinces surveyed.
TORONTO, Nov. 26 /CNW/ - Watson Wyatt Data Services, a wholly-owned subsidiary of Watson Wyatt Worldwide, today announced the release of its 2009/2010 Canadian Survey Report on Middle & Supervisory Management Compensation.
The data are based on the responses of 264 organizations encompassing 1,397 locations reporting data on 23,305 incumbents. Data are presented on a total of 51 geographic areas and 97 industry classifications.
Bonus/Profit Sharing Trends
Overall, 60.2 percent of management and supervisory personnel received a short-term incentive payment (comprised of bonus, profit sharing and/or other cash) averaging 14.1 percent of salary, for all salary levels combined. Within the six salary distinctions, the percentage of employees receiving an award varied by more than 30 percentage points. Employees with a base salary between $100,000 and $124,999 fared the best, with 71.7 percent of employees receiving a short-term incentive award. Meanwhile, only 36.1 percent of eligible employees with a base salary of less than $50,000 received a bonus and/or other cash compensation payment.
The percentage of management and supervisory personnel receiving a bonus varied significantly among the sectors reported. Banking and Finance had the highest percentage of employees receiving a short-term incentive award at 73.1 percent, while the Utilities and Energy Sector had the lowest at 40.2 percent. Employees working in the Retail and Whole Trade Sector received the highest incentive payments, averaging 19 percent of salary. The smallest payments, averaging just 8.3 percent of salary, were reported for employees working in the Insurance Sector.
Regional differences varied by almost 15 percentage points, with Quebec reporting the highest percentage of employees receiving a short-term incentive payment at 63.6 percent, and the Atlantic Region reporting the lowest at 48.9 percent. Interestingly, employees in the Atlantic Region received the highest incentive payment, averaging 20 percent of salary; employees in Ontario received the lowest average payment at 12.8 percent of salary.
Organization size was not a significant factor in determining whether an employee received a short-term incentive payment, with less than 15 percentage points separating the four full-time employee (FTE) size categories. The highest percentage of incumbents receiving an incentive payment was reported in organizations with less than 300 FTEs, at 68.5 percent; the lowest percentage of incumbents receiving, at 54.3 percent, was reported for organizations having between 300 and 999 FTEs. Managers and supervisors in organizations with 2,500 FTEs or more received the largest payouts, averaging 16.3 percent of salary, whereas those incumbents in organizations with fewer than 300 FTEs received the smallest payouts, averaging 12.1 percent of salary.
The 2009/2010 Canadian Survey Report on Middle & Supervisory Management Compensation is available online, or as an online/printed report set.
About Watson Wyatt Data Services
Watson Wyatt Data Services (WWDS), a wholly-owned subsidiary of Watson Wyatt Worldwide (ranked 980 on CNN Money's FORTUNE 1000 list of top companies for 2009), 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 printed, interactive and online survey reports. Our compensation databases are recognized worldwide as the most reliable source of current data for compensation planning.
Global scope, local knowledge ...
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 institutions. 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, WWDS also 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. For more information, visit our Web site at WWDS.com.
SOURCE WATSON WYATT DATA SERVICES
For further information: For further information: Cherie Langevin, Watson Wyatt Data Services, Tel: (416) 813-4428, E-mail: Cherie.Langevin@watsonwyatt.com