Category: Uncategorized

PROJECTED INCREASE BUDGET REMAINS AT 3.6%

Toronto, Ontario, February 1, 2024 – Normandin Beaudry, a leader in actuarial and total rewards consulting services, released the results of its pulse survey on salary increase projections. Launched in November 2023, the pulse survey was conducted by the firm’s compensation experts to evaluate how initial 2024 salary forecasts, which were determined in the summer, have evolved over the last several months. More than 430 Canadian organizations participated in the survey over its month-long run.

HIGHLIGHTS

Revised budgets indicate that salary increases remain aligned to initial forecasts

Results of the pulse survey reveal that 36% of participating organizations reported changes to their initial budget forecasts made over the summer months, with 44% increasing their budget, and the remaining 56% decreasing their initial 2024 salary budget.

Overall, the average Canadian salary increase budget forecast for 2024 remains steady at 3.6%, the same as the summer forecast. However, on a year-over-year basis, the survey shows that the average salary increase budget is expected to decline, after the upward trajectory observed between 2021 and 2023. Darcy Clark, Senior Principal, Compensation, at Normandin Beaudry, explains this phenomenon: “Companies are trying to find the right balance between managing their compensation spend and remaining cautiously optimistic. While less bullish than last year, it’s important to note that forecasts for 2024 remain above historical norms, and greater than current rates of inflation.”

What type of companies are making changes to their budget forecasts?

Organizations that reported decreases to their initial salary budget were primarily from the technology sector.[1] The more conservative increase budget forecasts from the survey may be linked to substantial increases to compensation programs already implemented over the last several cycles, which reported high salary increase budgets over the past years, cost reduction efforts, and the decrease of pressure for talent in the market.

Organizations that reported a rise in their initial salary increase budget were primarily from niche industries.[2] These increases can be linked to the competitive nature of the market, inflation, and as a strategy to retain key talent.

Additional budget for more flexibility

In addition to a salary increase budget, 41% of participating organizations plan to set aside an average additional budget of 0.9% in 2024. “Organizations that are setting aside additional budgets are positioning themselves to be better equipped in responding to challenges throughout the next compensation cycle,” explains Clark. “This provides organizations with an opportunity to address internal inequalities more thoroughly with ad-hoc salary adjustments. Additionally, reserving even this small percentage of their budget ensures sufficient differentiation in salary increases are possible to deliver for high-performing and high-potential employees and supports retention efforts for highly strategic or mission-critical roles.”

Stable total budgets

In Canada, the average total budget remains at 4.0% for 2024, aligning with initial forecasts from the summer, excluding freezes.[3] Average total budget forecasts by ownership structure include:

• Not-for-profit organizations: 4.3%
• Privately held organizations (not listed on the stock market): 4.2%
• Publicly traded organizations (listed on the stock market): 4.0%
• Public and parapublic organizations: 3.8%

Total rewards, an integral part of the solution

With the pace of heightened salary increase budgets over the last few years appearing to settle, organizations must continue to strategize on how to effectively allocate their budgets across their workforce and maintain the overall competitiveness of their broader total rewards offering. Recognizing that increases to cash compensation is not the only effective way to compete for talent, 67% of participating organizations noted that a strategic priority for 2024 involves ensuring the competitiveness of their total rewards programs. Enhancing benefit and pension plans as well as non-monetary components for example, can help differentiate organizations from competitors.

The full report and interactive tool, with details by province, industry sector, size and type of organization, are available on the Normandin Beaudry website.

[1] Decreases in the initial salary increase budget can be observed in the following industries within the technology sector: software publishing, high-tech and electronic gaming and visual effects industries.

[2] Increases in the initial salary increase budget can be observed in the following industries: telecommunications, data processing/warehousing, public services, and energy, mining and metals industries.

[3] Total budget includes the salary increase budget and the additional budget.

About Normandin Beaudry

Founded in 1992, Normandin Beaudry is a leader in actuarial and total rewards consulting services. From its offices in Montreal, Toronto, and Quebec City, close to 350 employees serve clients across Canada in eight areas of expertise: Pension and Savings, Pension Plan Administration, Investment Consulting, Group Benefits, Compensation, Health, Performance, and Communication. In 2023, Normandin Beaudry expanded its consulting reach with a new global joint venture, joining MBWL International as an equal and independent partner.

About our compensation expertise

Normandin Beaudry’s team of close to 40 compensation consultants is the largest in Canada. Through the sound and innovative use of data and technology, our versatile and creative experts provide their clients with unique and simple solutions that address their strategic and operational needs. For more information, visit https://www.normandin-beaudry.ca/en/areas-of-expertise/compensation/.

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Media contact:

Zenergy Communications

media@zenergycom.com   

Vancouver, BC and Dallas, TX – January 30, 2024 – CDNGLOBAL, a Canadian full-service commercial real estate brokerage and advisory firm and Mohr Partners, Inc., a leading United States-based global corporate real estate advisory and outsourcing services firm, are pleased to announce a strategic partnership to deliver occupier and capital markets solutions throughout North America. Together, CDNGLOBAL, Mohr Partners and their international partners in Mexico/Latin America, UK/EMEA and Asia Pacific have over 1,000 commercial real estate professionals covering 70 cities throughout the world.

The partnership between CDNGLOBAL and Mohr Partners is rooted in the firms’ common corporate values and structures. Both firms are privately owned, debt-free and committed to investing in best-in-class technology and data-driven tools that allow their clients and professionals to make informed decisions around site selection and capital markets.

CDNGLOBAL and Mohr Partners agreed to partner after both firms began collaborating on cross-border U.S. and Canadian client mandates in 2022. Both firms realized their mutual client-centric approaches to driving transaction-based solutions were very similar.

“The United States boasts the largest commercial real estate market globally so having a strategic partner with 24 offices across the country and two more underway is a game-changer. With our combined global reach, this strategic partnership positions us to serve companies worldwide, offering unparalleled expertise and support,” said Agron Miloti, CEO of CDNGLOBAL.

Robert Shibuya, Chairman and CEO of Mohr Partners, added: “We are thrilled to join forces with CDNGLOBAL, creating a synergy that leverages our respective strengths. We are confident in CDNGLOBAL’s highly experienced, senior team and anticipate continued growth, providing even greater value to our clients and solidifying our position as leaders in the ever-evolving commercial real estate landscape.”

This collaboration signals the beginning of a growth trajectory, with both companies poised to explore further opportunities and expand their global footprint.

About CDNGLOBAL®

Proudly Canadian. Privately owned. Client focused.

A progressive team of leading real estate advisors focused on building strong relationships and powering prosperity through innovative commercial real estate solutions based on localized market intelligence, trust, and human connectivity. Designed to serve you better, CDNGLOBAL solutions are tailor-made to suit our clients’ short-term goals and long-term success. CDNGLOBAL provides a wide range of commercial real estate services including industrial, office, and retail leasing, capital markets, investment sales, and commercial real estate advisory services. With expert localized teams in every major Canadian market as well as strategic global partnerships, our clients gain access to any service they seek, in the markets they need, through a single point of contact – your strategic ally in business. Our team’s singular goal is to use our shared resources, expertise, and market intelligence, along with a collaborative and entrepreneurial approach, to deliver the single best strategic solution for each and every client. Based in Vancouver, British Columbia, CDNGLOBAL has offices across Canada. For more information, please go to www.cdnglobal.com.

About Mohr Partners

Mohr Partners, Inc. is a global corporate real estate advisory & outsourcing company, providing corporate occupiers with an integrated set of portfolio services including strategic planning, business intelligence, lease administration & accounting, research and site selection, labor analytics, project and construction management, comprehensive demographics analysis, economic incentives negotiations, transaction management and facility services. Since 1986, Mohr Partners has been managing real estate portfolios for corporations, and each year completes transactions for its clients in all 50 U.S. states, all provinces of Canada and locations around the world. Mohr Partners seamlessly provides corporate real estate services globally through its strategic alliance partners in Canada, Mexico/Latin America, EMEA and Asia Pacific. For more information on Mohr Partners, please visit www.mohrpartners.com.

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Media contact:

Zenergy Communications

1.866.440.4034 | media@zenergycom.com

LEADING RISK MANAGEMENT AND INSURANCE BROKERAGE FIRM RECOGNIZED FOR EMPLOYEE WELL-BEING AND WORKPLACE CULTURE

MONTRÉAL, QC – (JANUARY 29, 2024) — BFL CANADA, a leader in the Risk Management, Insurance Brokerage, and Benefits consulting Industry, is delighted to announce its inclusion in Forbes’ prestigious list of Canada’s Best Employers 2024, ranking 193 out of 300. This recognition underscores BFL CANADA’s commitment to fostering an exceptional workplace environment and is a testament to the company’s dedication to employee engagement and well-being.

Forbes, in collaboration with market research firm Statista, conducted an independent survey that involved more than 40,000 employees across various industry sectors in Canada. The study focused on companies with a workforce of at least 500 individuals within the country. The Forbes ranking is based on a range of criteria, including salary, gender pay equity, work flexibility, opportunities for promotion, on-the-job training, and employee recommendations. With over 900,000 employer evaluations considered, BFL CANADA has secured its place among the top 300 companies.

“BFL CANADA’s inclusion in Canada’s Best Employers 2024 by Forbes is a testament to our commitment and engagement towards our employees. We understand that our strength lies in our people, and we are dedicated to investing in professional development as well as employee engagement. Our private business model is tied to our culture, making our company a great place to work,” said Lisa Giannone, President and COO of BFL CANADA.

BFL CANADA continues to set standards in the industry and beyond, nurturing a workplace culture that resonates with the aspirations of today’s workforce and ensuring they not only meet but exceed employee expectations.

ABOUT BFL CANADA

Founded in 1987 by Barry F. Lorenzetti, BFL CANADA is one of the largest employee-owned and operated Risk Management, Insurance Brokerage, and Employee Benefits consulting services firms in North America. The firm has a team of over 1,300 professionals located in twenty-six cities across the country. BFL CANADA is a founding Partner of Lockton Global LLP, a partnership of independent insurance brokers who provide Risk Management, Insurance and Benefits Consulting services in over 140 countries around the world.

For more information, visit bflcanada.ca and follow us on LinkedIn, Instagram, X, and Facebook.

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Media contact:

Zenergy Communications

media@zenergycom.com   

As we usher in the New Year, our team has been taking time to reflect on 2023 and using those insights to anticipate the various factors that will influence businesses and individuals in the year ahead. Based on our research and expertise, here are the top four trends you should watch for in 2024.

1: The AI Renaissance

Artificial Intelligence (AI) has become more than just a buzzword; it’s a transformative tool shaping the digital age. However, as we delve deeper into AI-driven solutions, the need for genuine human skills and emotions remains paramount. In 2024, we anticipate an exhilarating combination of AI technologies and human-centric strategies across various sectors. This synergy will not only increase efficiency but also ensure that technology continues to serve humanity rather than replace it.

2: Social Media: The Evolution of Engagement

As social media users become increasingly aware of digital burnout, 2024 will witness a shift in how consumers engage with various platforms. Instead of prolonged browsing and static content, consumers will gravitate towards more ephemeral and engaging formats. Specifically, Instagram stories will surpass traditional feed posts in popularity. For brands operating in the B2C realm, this signifies a pivotal moment: a transition towards more story-driven, transient content that fosters genuine connections and meaningful interactions with customers and prospects. In the B2B realm, businesses may begin to rely more heavily on LinkedIn to connect with prospects as new features emerge such as auto translations, real time insights into trending topics on company pages and live audio events.

3: Investor Relations: North American IPO Market Rejuvenation

The North American IPO landscape has experienced a significant lull, with 2023 marking one of its most challenging years in recent history. However, signs of resurgence are becoming evident as we transition into 2024. A lower interest rate environment coupled with a surge in equity financings and the tech sector’s robust performance, could set the stage for a potential IPO rebound. The intricate processes associated with IPOs, spanning regulatory approvals to financing, often require several months. Considering the conventional avoidance of IPOs during the summer, the latter part of 2024 appears to be a more plausible window for companies contemplating public listings.

4: Graphic Design: A Palette of Possibilities

2024 will be a year of bold experimentation in graphic design. We anticipate a departure from muted tones and subtle gradients, with designers embracing intense color schemes that grab attention and evoke visceral reactions. Innovative gradients will redefine the conventional boundaries of color transitions, ushering in a new era of visually striking and emotionally resonant design aesthetics.

2024 promises to be a year of innovation and transformation and we are committed to remaining one step ahead of trends affecting our industry and our clients.

Stay tuned for more insights, updates, and strategic perspectives from the Zenergy team.

Here’s to a prosperous and impactful 2024!

This year Zenergy Communications is celebrating its 20^th anniversary (yahoo)! Our journey has been filled with exciting challenges, creative breakthroughs, and memorable encounters with talented individuals.

To commemorate 20 years of ideas in action, our team got together and compiled a list of everything we’ve learned over the past two decades. It turns out…there was a LOT but we’ve managed to pare down the list into the five most valuable lessons that have been instrumental in shaping our identity, honing our skills, and ensuring success in the ever-evolving MARCOM landscape. We hope you find our insights helpful and informative.

Lesson 1: Adaptability is key

In the fast-paced world of MARCOM, the only constant is change. To thrive, we have had to and continue to embrace innovation, remain agile, and be ready to pivot when needed, especially as new technology and trends emerge. Adaptability has allowed us to stay relevant and deliver effective solutions to our clients. Being flexible and open minded is paramount. We’ve learned to avoid getting trapped in the mindset of, ‘that’s how we’ve always done it.’

Lesson 2: Relationships matter

We cannot overstate this! Our journey has been influenced by some truly incredible people and other people who were more…challenging. But every relationship is important. We’ve come to realize that fostering relationships and putting in effort to follow up and stay in touch with people we’ve met is paramount to success. We have never written off a connection we’ve made. In fact, our business was primarily built on referrals. Relations really do matter!

Lesson 3: The Client isn’t always right

We know…that’s a bold statement but hear us out! Our clients hire us to help bring their visions to life but they also hire us to provide feedback and expertise. There have been instances where the approach suggested by the client was unlikely to succeed, and we provided feedback and guidance that got the project back on course! We’ve always worked as an extension of our clients and take their business very seriously. Not every idea is realistic and in those instances, we help them adapt the thinking to ensure success.

Lesson 4: Don’t rely on a one-size-fits-all approach

Although many of our clients come to us with similar challenges, we always take a uniquely tailored approach for each one. Most companies are looking to drive awareness and sales but the omni-channel marketing strategy we implement will vary depending on a wide range of factors. We’ve learned the importance of managing our clients and their expectations instead of letting them manage us, understanding the ins and outs of their business in a holistic sense to provide them with the best support. This bespoke approach has allowed us to maintain the personal touch of a boutique agency even as we’ve grown and scaled our business.

Lesson 5: Find the purpose

Last but certainly not least, we’ve discovered that finding purpose in our work is the most rewarding aspect of what we do. Integrating our values and mission into each project has made our work much more fulfilling and authentic and helped us to develop an incredible roster of like-minded clients. A shared vision creates powerful connections and meaningful impact.

These lessons have been integral to our story. To our clients, colleagues and every person who has played a role, big or small, in shaping who we are today, thank you for being a part of our journey. Here’s to the next 20 years of ideas in action!

COMPANY CONTINUES ITS COMMITMENT TO CANADA-WIDE
SERVICE WITH NEW CONSULTANTS ACROSS FIVE PRACTICES.

Montréal, Québec and Toronto, Ontario – December 5, 2023 – Normandin Beaudry, a leader in actuarial and total rewards consulting services, celebrated the fifth anniversary of its presence in Toronto. This notable milestone underscores the company’s ongoing commitment to serving Canadian clients coast-to-coast and those with cross-border requirements through a recent joint venture with MBWL International (MBWL).

“The team at Normandin Beaudry is immensely proud to be celebrating this milestone of progress, innovation, and growth. We have always been and remain strongly committed to delivering excellence to our Canadian clients. Our ongoing expansion of Total Rewards practices in Toronto, coupled with our pan-Canadian survey, remun, our global partnership with MBWL, and the addition of prominent clients over the past few years, underscores the trust our team of experts has built by meeting and exceeding client needs,” said Éric Montminy, President at Normandin Beaudry. 

Normandin Beaudry’s Toronto office Market Leader and Senior Principal, Emmanuele (Manny) Campione, stated: “We continue to expand and to add new consultants across numerous practices, all who will focus on prioritizing independence and quality while consistently delivering exceptional value to clients.”  Normandin Beaudry’s Toronto team now boasts 20 dedicated consultants in Compensation, Performance, Group Benefits, Savings, and Communications with new practices and specialists slated to be added in 2024.

Normandin Beaudry recently announced a new partnership with MBWL to extend its services to Canadian companies with cross-border requirements. Normandin Beaudry joined as an equal and independent partner alongside MBWL’s already strong, multinational presence across the UK, US, Germany, and over 30 other countries worldwide.

About Normandin Beaudry

Founded in 1992, Normandin Beaudry is a leader in actuarial and total rewards consulting services. From its offices in Montréal, Toronto, and Québec City, nearly 350 employees serve clients across Canada in eight areas of expertise: Pension and Savings, Pension Plan Administration, Investment Consulting, Group Benefits, Compensation, Health, Performance, and Communication.

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Media contact:

Zenergy Communications

media@zenergycom.com   

ELLINGTON COMMERCIAL REAL ESTATE ADVISORS AMALGAMATES WITH CDNGLOBAL TO DELIVER FULL-SERVICE EXPERTISE IN THE GTA SUPPORTED BY THE FIRM’S GLOBAL CAPABILITIES

Toronto, ON – (November 22, 2023) – CDNGLOBAL, a proudly Canadian, privately held, independent commercial real estate brokerage and advisory firm, is pleased to announce its expansion into the Greater Toronto Area (GTA) commercial real estate market, underscoring its ongoing dedication to providing nationwide coverage. The newly established operations will be overseen by Joe Cianfarani, Rick Comish, and Scott Mulligan, experienced professionals in commercial real estate.

“The team at Ellington Commercial Real Estate Advisors, which as of today will operate as CDNGLOBAL Toronto is excited to be a part of this exceptional expansion strategy in the Toronto market. Our experience in office, life sciences, and industrial real estate combined with the vibrant landscape of Toronto’s market and the strengths of CDNGLOBAL’s coast-to-coast infrastructure will enable us to offer a more dynamic and holistic range of services to our client base,” said Scott Mulligan, Managing Partner / Broker of Record at CDNGLOBAL Toronto.

“The CDNGLOBAL leadership team wanted to ensure that we found the ideal partners for the Toronto marketplace who were aligned with our values and mission. We’re not just combining companies; we’re merging our visions and strengths to shape the future of our industry. We’re excited to announce our immediate plans to recruit skilled front-line professionals specializing in the industrial and investment sectors in Toronto. These talented individuals can anticipate competitive compensation and the backing of an exceptional team as we ramp up our operations in the GTA,” added Agron Miloti, CEO and co-Founder of CDNGLOBAL.

About CDNGLOBAL®

Proudly Canadian. Privately owned. Client focused.

A progressive team of leading real estate advisors focused on building strong relationships and powering prosperity through innovative commercial real estate solutions based on localized market intelligence, trust, and human connectivity. Designed to serve you better, CDNGLOBAL solutions are tailor-made to suit our clients’ short-term goals and long-term success. CDNGLOBAL provides a wide range of commercial real estate services including industrial, office, and retail leasing, capital markets, investment sales, and commercial real estate advisory services. With expert localized teams in every major Canadian market as well as strategic global partnerships, our clients gain access to any service they seek, in the markets they need, through a single point of contact – your strategic ally in business. Our team’s singular goal is to use our shared resources, expertise, and market intelligence, along with a collaborative and entrepreneurial approach, to deliver the single best strategic solution for each and every client. Based in Vancouver, British Columbia, CDNGLOBAL has offices across Canada. For more information, please go to www.cdnglobal.com.

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Media contact:

Zenergy Communications

1.866.440.4034 | media@zenergycom.com