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Roughly two-thirds (64 per cent) of Canadian employees say they want a higher salary for their position, according to a new survey by Robert Half Canada Inc.

The survey, which polled 1,500 professionals, found nearly all (92 per cent) were also concerned that inflation is going to outpace any salary increases.

Indeed, David Bolton, a regional director at Robert Half, says employees have legitimate concerns over whether their salary is keeping pace with the rate of inflation, noting many believe inflation could be significantly more impactful than any sort of total rewards they’re going to receive.

Read: My Take: Helping employees amid rising cost of living a win-win for employers

“One of the biggest challenges we’re seeing at the moment is the geographical disbursement of employees. Historically, it’s been quite easy to just look at your current market and [compare salaries with the] company next door or . . . down the street. But candidates have got so much more information now and so many more opportunities to them. They can compare salaries at a much broader range.”

He says another hurdle is the declining strength of the Canadian dollar. “If you’ve got companies from the U.S. going north of the border for talent, that can drive salaries up, [which] maybe isn’t a fair comparison to what we’re doing locally. Candidates are far more informed than they used to be [when] employers had all the knowledge and held all the power and I think that [dynamic has] shifted a little bit now to the candidates.”

While compensation packages often include other key offerings, including bonuses or incentive plans such as stocks, shares and options, Bolton acknowledges some of these offerings are usually reserved for high-level executives. He notes flexible working is a bonus that employers can offer to all employees to reduce cost-of-living expenses and help foster well-being.

Read: 71% of Canadian workers say rising cost of living is increasing faster than their income: survey

The survey also noted two-fifths (41 per cent) of respondents wanted increased flexibility to work where or when they want. Despite this, a disparity still exists between the flexibility employees want to see and what employers want to give, says Bolton, noting employees want to be in the office two to three days per week, whereas employers want four days or a return to five days in office.

But even a minimal hybrid working arrangement brings with it extra costs, he adds, noting these considerations may have gone unaddressed in the past, but with inflation and the rising cost of living, employees have taken notice and are prioritizing their own financial health. “Commuting [and] parking have costs associated that people maybe hadn’t considered previously. Maybe they need to get someone to come and walk the dog or they’ve got to pay for extra childcare. So I think it’s also understanding, as you’ve got different parameters of your job, what are the [associated] costs that [may arise from their role].”

As well, life happens and brings change to employees’ personal lives, says Bolton, noting someone who used to work in the office five days a week pre-pandemic may have recently had children or had to start caring for an ageing parent over the last five years. “The pandemic shifted people to [remote working] and now they’ve got to make some changes as you’re asking them to come back into the office more. . . . It’s not just a straight compensation piece, but it’s the cost sometimes of coming into the office and working different hours that has an impact on . . . employees.”

Read: Flexible working, work-life balance can impact workers’ well-being, quality of life: report