- Short-term incentive awards were most prevalent in the Non-Durable
Goods Manufacturing Sector.
- Office personnel in Manitoba/Saskatchewan received the highest
average short-term incentive payment among the provinces surveyed.
TORONTO, Nov. 10 /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 Office Personnel Compensation.
The data are based on the responses of 278 organizations encompassing 1,068 locations reporting data on 26,881 incumbents. Data are presented on a total of 42 geographic areas and 103 industry classifications.
Bonus/Profit Sharing Trends
Bonus and/or profit sharing payments averaged 5.2 percent of salary for all salary levels combined, with an average of 37.9 percent of office personnel receiving a payment. Within the four salary level distinctions reported, the percentage of employees receiving short-term incentives varied by more than 20 percentage points - 46.4 percent of employees earning $50,000 or more received a short-term incentive payment averaging 7 percent of salary, while 25.5 percent of employees earning less than $30,000 were paid a bonus and/or profit sharing award averaging 5.2 percent of salary.
In terms of industry, the largest short-term incentive awards were paid to 37.2 percent of employees working in the Non-Durable Goods Manufacturing Sector, averaging 5.7 percent of salary. Retail and Wholesale Trade followed at an average of 5.3 percent of salary paid to 32 percent of employees. Short-term incentive payments averaging less than 5 percent of salary were reported within Durable Goods Manufacturing, Insurance, Health Care, and Utilities and Energy sectors.
Employees in Ontario, Alberta and Manitoba/Saskatchewan represent the three largest groups of employees receiving a short-term incentive payment, at 43.9 percent, 40 percent and 38.5 percent, respectively. Of the three regions, employees in Manitoba/Saskatchewan fared the best receiving an average incentive payment of 5.6 percent of salary; Alberta employees followed at 5.1 percent of salary and Ontario at 4.9 percent of salary.
Office personnel in smaller organizations fared better than their counterparts in larger organizations. In organizations with fewer than 300 full-time employees (FTEs), 50.1 percent of employees received an average short-term incentive payment of 5.9 percent of salary; whereas in organizations with 2,500 FTEs or more, 28.8 percent of employees received an average of 4.7 percent of salary.
The 2009/2010 Canadian Survey Report on Office Personnel 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