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GARNICA ACCELERATES NORTH AMERICAN EXPANSION WITH THE LAUNCH OF FIRST WAREHOUSE IN THE US AND ADDITION OF NEW TEAM MEMBERS

Infrastructural expansion coupled with strategic appointments reinforce the company’s commitment to enhanced customer service and growth in North America

 

 

Wilmington, DE, United States – April18, 2024 – Garnica, a leading global supplier of premium sustainable plywood solutions is pleased to announce its first US-based warehouse will be opening in Savannah, Georgia at the beginning of May of this year. This strategic expansion underscores the company’s commitment to enhancing its presence in North America and providing expedited service to its customers across the region.

 

Due to high anticipated demand, the warehouse, operating under the name ‘Garnica ExpressShip,’ will prioritize service to the new Garnica Partner Community (GPC) a group of Garnica’s collaborative distribution partners. The facility will stock a wide selection of Garnica’s most popular products in standard and jumbo sizes as well as a variety of thickness options.

 

“The ExpressShip warehouse represents a significant milestone for Garnica as we aim to better serve North American customers with improved access to high-demand stock products and shorter lead times,” said David Smith, President of Garnica’s North American division. “We anticipate this strategic investment will not only enhance our operational efficiency but also generate excitement among our customers, driving higher demand for products. This expansion marks a crucial step in realizing Garnica’s ambitious growth plan in the coming years.”

 

Jorge Farulla, Garnica’s North American Logistics Manager will be leading the project alongside Smith. Farulla expressed his excitement, adding, “ExpressShip promises to completely revolutionize the way we move products throughout the US. Our lead times will now be less than one week for deliveries east of Mississippi, the effects of which will be felt at all levels of the supply chain from distributors to customers.”

 

In addition to Garnica’s new warehouse, the company is also appointing two new senior leaders to its North American team: Thomas Tornillo, Product Management & Claims Manager, and Jack Naish, Inside Sales Manager. Together, they will work to enhance the customer experience and ensure clients receive tailored support through information and resources catered to their unique needs.

 

With a vision to empower customers and strengthen its presence in North America, Garnica’s strategic expansion and new appointments signify a transformative era for the company where efficiency and exceptional service intersect to propel sustainable plywood solutions forward.

 

 

About Garnica

 

Garnica is a leading global manufacturer of premium, sustainable plywood. Its unwavering commitment to responsible forestry and the promotion of a circular economy has been integral to its identity since 1941. The company offers lightweight, durable plywood for a range of applications including furniture, housing, transportation, and interior design. With 1,100 employees across its seven European production centers, Garnica’s dedication to responsible forest management, quality products, and unwavering reliability makes it a trusted partner for businesses worldwide.

 

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Media Contact:

Zenergy Communications

media@zenergycom.com

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Hettich Trend Scouts Attend EuroCucina 2024 to Explore the Latest Innovations in Kitchen Design

Montréal, Québec – April 18, 2024 – Hettich, a leading manufacturer in hardware and furniture fittings is pleased to announce its attendance at the world renowned EuroCucina exhibition from April 16 to 21 in Milan. It is widely considered to be one of the most influential kitchen design events in the world.

Hettich has sent its top trend scouts to explore the evolving landscape of kitchen design, focusing not only on aesthetics but also on functionality and sustainability. With a keen eye on emerging innovations, they will delve into topics such as sustainable materials, energy-efficient solutions, the integration of artificial intelligence, and the evolving role of the kitchen in urban living.

“EuroCucina provides a platform for us to explore the future of modern living, speak with other industry leaders and integrate these insights into our future hardware designs,” explained René Dionne, President and CEO of Hettich Canada.

Hettich’s trend scouts will provide regular updates on their discoveries via the company’s website throughout the duration of the event as well as their social media channels.

Follow their updates here:

Website: https://web.hettich.com/en-de/home 

LinkedIn: https://www.linkedin.com/company/hettich-group/

Instagram: https://www.instagram.com/hettich_official/

 

About Hettich

Founded in 1888, Hettich is one of the world’s largest manufacturers of furniture fittings. What began in Kirchlengern, Germany as a small family-run business has since expanded into a team of 7,600 employees worldwide. Despite its global success, Hettich has remained true to its core values of quality, reliability and exceptional customer service. It is committed to constant innovation with an emphasis on sustainability in every aspect of its operations, from the manufacturing process to its energy-efficient architecture.

Its Canadian division employs a full team of sales representatives and account managers, dedicated to providing a high degree of customized support and expertise to clients all across the country. Hettich Canada’s head office and warehouse are located in Montreal.

Hettich’s revolutionary products continue to influence design trends in today’s furniture industry and shape those of tomorrow.

For more information, visit www.hettich.com

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FG276: Let’s shake things up!

Risk Taker to Business Shaker

From a troubled childhood to becoming one of the most influential media moguls globally, Oprah Winfrey’s journey is a testament to taking risks and persevering. In 1986, she risked her stable job as a news anchor to start, The Oprah Winfrey Show which became the highest-rated television program of its kind in history. Beyond TV, Winfrey ventured into film production, publishing, and philanthropy, leveraging her platform to empower and inspire millions worldwide.
While anyone can take business risks, specific personality traits can lend themselves well to navigating and thriving as an entrepreneur. Scientific journals have identified these traits:
  • Visionary
  • Resilient
  • Adaptable
  • Courageous
  • Strategic Thinker
  • Persistent
  • Creative
Overall, success ultimately depends on a combination of factors. Individuals like Winfrey have demonstrated that calculated risks, combined with vision, determination, and resilience can lead to significant success and impact.

 

“Only those who will risk going too far can possibly find out how far one can go.”
T.S. Eliot

Marketing Risks?

While a crucial aspect of any business strategy for promoting products or services, marketing comes with its own set of risks. These risks can affect the reputation, financial health, and overall success of a business. Some of the primary risks associated with marketing include:
  • Reputation: Ineffective or insensitive marketing campaigns can damage a company’s reputation.
  • Targeting and Segmentation: Incorrectly identifying or understanding the target market can lead to campaigns that fail to resonate with intended audiences.
  • Technology: With the increasing reliance on digital marketing, there are risks related to technological failures, cybersecurity breaches, and data privacy issues.
  • Market Conditions and Competition: Changes in market conditions, consumer preferences, or increased competition can impact the effectiveness of a marketing strategy.
  • Content: Producing content that fails to engage or is of poor quality can harm a brand’s image and lead to a lack of interest.
  • Social Media and Viral Marketing: While social media can amplify marketing messages positively, it can also rapidly spread negative messages.
Mitigating these risks involves careful planning, ongoing monitoring, and adapting strategies based on feedback and changing conditions.
Need help evaluating your marketing strategy?

Look Above, Look Beyond, Look North

As an international business, we have ample experience working with American clients across a diverse range of industries. Our Canadian roots, however, allow us a unique perspective and understanding of Canadian consumers as well; how they engage with various forms of media and advertising and their consumer habits. (And yes, it’s very different than Americans!) It is this unique positioning combined with our competitive pricing against the US dollar that make Canadian boutique agencies the growing choice for American companies, whether they’re looking to ramp up their MARCOM and PR strategy in the US or planning their expansion to Canada.

#Poll: What Is Your Biggest MARCOM Risk?

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Share your insights with 20,000+ readers!
Showcase your ideas and discuss what’s on your mind by being a guest columnist in our weekly newsletter! With a reach of more than 20,000 monthly readers and an average open rate of over 35%, you’ll get the attention of industry leaders directly.
Contact us

Navigating a Risk-Averse Market 
In times of economic downturn, securing business can become challenging for sales professionals as companies and customers tighten budgets, seeking quick ROI and affordable alternatives. Here are some tips to navigating a risk-averse market:
  • Focus on enhancing product/service value and offering additional services to maintain brand reputation and customer loyalty.
  • Emphasize quality over quantity and prioritize personalized customer engagement and retention. Keeping a customer is cost-effective compared to acquiring new ones.
  • Consider automation as it can play a crucial role by improving sales reps’ efficiency, allowing more time for relationship building and sales activities.
  • Provide support, encourage work-life balance, and recognize achievements contributes to a motivated and engaged sales team.
This approach which includes prioritizing customer value, quality communication, automation, and employee well-being, enables sales leaders to navigate risk-averse markets successfully, positioning their teams for growth and resilience despite economic challenges.
#inspIRe: Tips for Handling a Difficult Media Interview

 

In the wake of a controversial incident, investors expect transparency and, it is crucial to respond appropriately. In addition to communicating with those directly impacted by the event, understanding how to speak with the media and address the situation publicly is equally as vital in upholding your company’s reputation and reassuring stakeholders.
Here are our top three tips for handling a difficult interview and if you’re interested in learning more about relevant media training services, send us a message.
  1. Do not ignore difficult or awkward questions by changing the subject or shifting blame.
  2. Do not say “no comment.” Acknowledge the question and tie it back into one of your key message lead-ins such as: “The real issue is…”, “People need to know…”, “What I can tell you is…”, or “Our view today…”
  3. If you do not know the answer to the question or are not in a position to provide a response due to confidentiality or other, say so.

What We’re Reading

Please share what you’re reading by tweeting #FGFreads or DM us.

#FGStory: A Moment of Hippo Zen 
A hippo’s enormous size lends itself to creating microhabitats for smaller organisms like fish. In this video we see a Nile Hippopotamus enjoying a fish spa treatment from African Cichlid fish, who swim around it cleaning off (eating) dead skin.
#FunFacts:
  • Hippos can sleep for up to 16 hours a day, despite only being able to hold their breath for about five minutes.
  • Native to Africa, they are the third largest land mammals.
  • While not considered nocturnal, most of the hippos’ foraging and activity happen during the night. They leave their resting waters near dusk and return in the morning.

#ProInsight

“Risk taking in both my personal and professional life has often opened doors and provided incredible new opportunities that otherwise would not exist. In some cases though, I’ve taken risks and fallen flat. The nature of risk taking is that you cannot predict the outcome but in my experience, it remains the most important aspect of growth and discovery.”
Linda Farha
President, Zenergy Communications
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Sorry, not Sorry: Embracing Canadian Stereotypes may Just be the key to attracting new Business

As appeared in Business Monthly (March 18, 2024)

 

When you think of Canada, what’s the first word that comes to mind? Polite? Hockey? Eh? 

These associations, while certainly not adverse, often fail to position Canadians as serious contenders on the global stage which is why many companies have worked to distance themselves from these stereotypes. However, Zenergy Communications, an integrated multilingual marketing-communications agency, has decided to explore what would happen if they completely embraced ‘Canadianisms’ in their recent campaign, Look North.

Blending humor with a compelling business proposition, Look North injects a refreshing dose of wit into the typically serious realm of MARCOM by humorously acknowledging Canadian quirks while simultaneously emphasizing the strategic advantages they offer. 

The campaign encourages US enterprises to look north beyond their borders and tap into Zenergy’s array of multilingual services, tailored communication strategies and nuanced understanding of diverse markets, all while enjoying the advantageous exchange rates. 

“Instead of trying to distance ourselves from Canadian stereotypes in order to appeal to US businesses, we decided to have a little fun and lean into them,” explains Linda Farha, president and founder of Zenergy Communications. “The focus of this campaign is not to highlight what we do as an agency, but how we do it. It showcases the creativity, quality and personalization that clients can expect when they work with us. Whether they’re looking to ramp up their MARCOM initiatives in the US or planning a Canadian expansion, Zenergy can act as an extension of their team and help create a seamless, integrated experience, that supports their business goals.”

Embracing an omni-channel approach, the Look North campaign offers a solution for US companies seeking to broaden their horizons and unlock untapped business potential. By leveraging Zenergy’s expertise of both Canadian and US markets, businesses can navigate the intricate landscape of North American commerce with finesse and confidence.

For more information about the Look North campaign and Zenergy’s MARCOM services, visit zenergycom.com/look-north.

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FG276: It’s all about trust!

Establishing and Sustaining Customer Trust

Trust plays a critical role in today’s competitive business landscape. Marketers who prioritize transparency, consistency, and authentic engagement are better positioned to cultivate long-term trust, leading to increased customer loyalty, and continued success.
Here are three key strategies for marketers to establish and sustain customer trust:
  • Transparency is a foundational element as it builds credibility and fosters a sense of honesty and openness. Marketers are encouraged to openly communicate about products or services, providing clear information to consumers.
  • The consistency between marketing messages and actual brand behavior is imperative. To build trust, marketers must ensure that communicated promises align with the real customer experiences. Consistently delivering on these promises over time will enhance reliability and strengthen the customer-brand relationship.
  • Authentic engagement with customers to ensure that their needs are prioritized over aggressive sales tactics is key. By genuinely understanding and addressing customer concerns, marketers can establish meaningful connections that go beyond transactional relationships.

Love Your (Northern) Neighbor

Zenergy Communications is a proudly Canadian MARCOM agency but our expertise spans far beyond our national borders. Whether you’re an American business looking to ramp up your MARCOM strategy or want to expand your presence to Canada, you don’t need to look further than your own backyard! Look North and discover all that we have to offer while taking advantage of the lower exchange rate.
Learn why US companies are turning their focus to their northern neighbors for marketing and communications expertise.

#Poll: What Factor do you Consider Most Important in Determining the Trustworthiness of a Business?

Take the poll 

 

Share your insights with 20,000+ readers!
Showcase your ideas and discuss what’s on your mind by being a guest columnist in our weekly newsletter! With a reach of more than 20,000 monthly readers and an average open rate of over 35%, you’ll get the attention of industry leaders directly.
Contact us

“The best way to find out if you can trust somebody is to trust them.” 
– Ernest Hemingway
Leveraging Social Media
Despite variations in usage times and preferred platforms across demographics, it’s evident that social media provides brands with unparalleled chances to directly engage with and captivate their audiences.
Social media platforms were originally designed to promote engagement, initially targeting individuals. However, this concept is equally effective for brands seeking to interact with customers.
DYK that Zenergy offers a series of social media training?
Our social media sessions include:
  • Foundations and Fundamentals
  • Best Practices
  • Optimization and Engagement
  • LinkedIn for Professionals
All sessions offer employees insights, strategies, and best practices to optimize their social media presence, enhance brand visibility, and drive meaningful engagement with their target audience.
#inspIRe: Setting Expectations
Setting expectations is crucial for investors. Ensure they understand what they are investing in, your company’s gameplan and the potential associated benefits and risks.
By being transparent within regulatory constraints and engaging with investors through various channels, companies can build and sustain positive investor relationships. Stay tuned for more tips, advice, and wisdom from our IR team each month.

What We’re Reading

Please share what you’re reading by tweeting #FGFreads or DM us.

#FGStory: Shape Shifting Fabric
MIT is pioneering a project aimed at creating shape-shifting fabrics applicable to various uses, ranging from medical devices to everyday apparel and utility tools such as tarps and nets. The venture has successfully resulted in the development of a prototype known as FibeRobo, a programmable, actuating fiber that transforms without relying on embedded sensors or other rigid components.
The finished product is particularly impressive! With a cost 60 times lower than comparable shape-changing fabrics, the fiber can contract by 25% of its original size, responding to heat – envision a self-constricting compression sleeve ideal for sports or exercise. Alternatively, for applications where skin safety is less critical, the fiber can shrink by 40% of its total size, offering possibilities like an auto-compressing tarp securing goods on a pallet. This project showcases a cost-effective and versatile solution for creating dynamic textiles with diverse practical applications.

#ProInsight

“Time on hiring is time well spent. Over my 20+ years as a business owner, I can say with confidence that this is the absolute truth. Hiring isn’t just about skills; skills can be learned. It’s about bringing on the right employees who align with your company’s vision and values. In order to identify these types of people, it’s important to ask the right questions and I think Gaurav Dhillon hit the nail on the head with these four: https://lnkd.in/gBghCbHS“
Linda Farha
President, Zenergy Communications
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Hettich Canada Appoints Cedrick McClish as New Technical Trainer & Customer Experience Lead

Montréal, Québec – March 6, 2024 – Hettich Canada, a leading manufacturer in hardware and furniture fittings is delighted to announce the appointment of Cedrick McClish to the position of Technical Trainer & Customer Experience Lead for the Ontario, Québec and Maritimes provinces.

 

In his new role, Cedrick will be responsible for conducting training initiatives within his designated territory, supporting sales development, and fostering relationships with distributors and key accounts. Additionally, Cedrick will spearhead outreach activities to enhance product knowledge while serving as the primary point of contact for technical support queries from internal staff within the territory.

 

“Cedrick’s extensive expertise of Hettich’s products and passion for fostering strong customer relationships will allow him to deliver exceptional technical training and support and empower clients to maximize the value of our hardware solutions,” said René Dionne, President of Hettich Canada. “We are confident that he will excel in this new role and propel the company to new heights.”

 

Cedrick will play a crucial role in onboarding new customers for technical assistance and training, ensuring a seamless transition and elevated experience. His appointment underscores Hettich Canada’s unwavering commitment to providing unparalleled service and expertise in the furniture hardware industry.

 

About Hettich

Founded in 1888, Hettich is one of the world’s largest manufacturers of furniture fittings. What began in Kirchlengern, Germany as a small family-run business has since expanded into a team of 7,400 employees worldwide. Despite its global success, Hettich has remained true to its core values of quality, reliability and exceptional customer service. It is committed to constant innovation with an emphasis on sustainability in every aspect of its operations, from the manufacturing process to its energy-efficient architecture.

Hettich Canada is headquartered in Montréal with several warehouses and offices around the country. Its Canadian division employs a full team of sales representatives and account managers dedicated to providing a high degree of customized support and expertise to clients. Hettich’s revolutionary products continue to influence design trends in today’s furniture industry and shape those of tomorrow.

For more information, visit www.hettich.com.

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ZENERGY COMMUNICATIONS UNVEILS ‘LOOK NORTH’ CAMPAIGN, MERGING HUMOR AND OPPORTUNITY IN A DISTINCTLY CANADIAN APPROACH

TORONTO, ON – March 5, 2024 – Zenergy Communications, an integrated multilingual marketing-communications agency, today announced the launch of its innovative ‘Look North’ campaign. Designed to showcase the agency’s expertise in providing comprehensive MARCOM solutions across North America, the campaign takes a uniquely playful approach that highlights some of Canada’s quirkiest customs and tendencies.

 

Blending humor with a compelling business proposition, ‘Look North’ injects a refreshing dose of wit into the typically serious realm of MARCOM by humorously acknowledging Canadian quirks while simultaneously emphasizing the strategic advantages they offer.

 

The campaign encourages US enterprises to ‘Look North’ beyond their borders and tap into Zenergy’s array of multilingual services, tailored communication strategies and nuanced understanding of diverse markets, all while enjoying the advantageous exchange rates.

 

“Instead of trying to distance ourselves from Canadian stereotypes in order to appeal to US businesses, we decided to have a little fun and lean into them,” explains Linda Farha, president and founder of Zenergy Communications. “We’re not marketing any new or revolutionary services, so the idea behind this campaign is to showcase our creativity and what we can do for our clients. Whether they’re looking to ramp up their MARCOM initiatives in the US or planning a Canadian expansion, the message we want to communicate is that they don’t need to look further than their own backyard for exceptional multilingual MARCOM solutions that drive results.”

 

Embracing an omni-channel approach, the ‘Look North’ campaign offers a solution for US companies seeking to broaden their horizons and unlock untapped business potential. By leveraging Zenergy’s expertise of both Canadian and US markets, businesses can navigate the intricate landscape of North American commerce with finesse and confidence.

 

For more information about the ‘Look North’ campaign and Zenergy’s MARCOM services, visit zenergycom.com/look-north.

 

ABOUT ZENERGY COMMUNICATIONS

Founded in 2003 by multi-disciplined entrepreneur Linda Farha, Zenergy Communications is an award-winning integrated marketing-communications firm that excels at producing content, creative campaigns, and strategies for brands looking to grow their business. Zenergy services both national and international clients across a diverse range of industries including Manufacturing, Retail, Healthcare Services, Technology, Entertainment, and Food & Beverage, from their offices in Toronto, Montreal, Vancouver, and New York. From traditional marketing and PR to transformative digital campaigns and financial communications, Zenergy has been delivering bilingual end-to-end MARCOM solutions that drive impactful results for over 20 years. Learn more at www.zenergycom.com.

 

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Media contact:

Zenergy Communications

media@zenergycom.com

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Garnica Launches Preferred Partner Community

The program promises to strengthen relationships and drive sales growth through tailored initiatives for select distributors.

 

Wilmington, DE, United States – February 20, 2024 – Garnica, a global leader in premium sustainable plywood manufacturing is pleased to announce the launch of its Garnica Partner Community (GPC), a thoughtfully curated program for select distributors. This unique program offers exclusive benefits and opportunities, customized to preferred product selection, sales volumes and customers. Designed to strengthen relationships and drive sales growth, the GPC emphasizes the company’s commitment to delivering exceptional value to its extended network, from distributors to customers.

 

The GPC offers a volume-based rebate system, exclusive access to training and leadership support, product samples and technical resources. CEOs of select distributors will also become members of the Garnica Distributors Advisory Board, providing an opportunity to meet with Garnica and other Preferred Partners and strategize business opportunities across North America. To remain innovative and responsive to evolving product demand, Garnica will collaborate closely with the GPC to modify existing products and develop new ones.

 

“The GPC underscores our dedication to fostering strategic partnerships and driving mutual success in a dynamic and ever-evolving market landscape,” explained David Smith, President of Garnica’s North American Division. “This exciting initiative is poised to enhance collaboration with our select group of distributors and develop market-centered products that address customer needs effectively.”

 

The GPC represents a transformative step in the company’s journey, reaffirming its dedication to the North American market. The program also underscores a commitment to fostering collaborative partnerships and driving mutual growth and operational efficiency in the plywood industry as a whole.

 

About Garnica

Garnica is a leading global manufacturer of premium, sustainable plywood. Its unwavering commitment to responsible forestry and the promotion of a circular economy has been integral to its identity since 1941. The company offers lightweight, durable plywood for a range of applications including furniture, housing, transportation, and interior design. With 1,200 employees across its seven European production centers, Garnica’s dedication to responsible forest management, quality products, and unwavering reliability makes it a trusted partner for businesses worldwide.

 

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Media Contact:

Zenergy Communications

media@zenergycom.com

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FG276: For the love of connections

Connecting Marketing to Business Objectives

Aligning marketing efforts with business objectives is crucial for achieving success. It is imperative for marketers to understand key business objectives so that marketing strategies are tailored to reach corporate goals.
Whether the focus is on increasing market share, launching new products, or strengthening customer relationships, a well-connected marketing approach ensures that every campaign contributes directly to the overall success of the business. This alignment fosters a strategic mindset, enabling marketing teams to make data-driven decisions that have a tangible impact on the bottom line.
Here are some examples of business goals and how marketing initiatives can support them:
  • Revenue Generation: Aligning marketing efforts with revenue goals ensures that the activities undertaken have a measurable impact on the company’s bottom line.
  • Brand Awareness and Equity: Establishing and enhancing brand awareness, cultivated through marketing efforts, can contribute to increased market share, customer acquisition, and long-term sustainability.
  • Customer Engagement and Retention: By implementing strategies that focus on customer engagement, satisfaction, and retention, marketing can contribute directly to customer lifetime value and loyalty.

Loving LinkedIn

LinkedIn is a dedicated platform for individuals to connect, build, and expand their network, making it an excellent resource for potential connections. The platform allows important relationships that go further than conventional social media by enabling the exchange of concepts, knowledge, and trends, thereby promoting thought-leadership.
Furthermore, businesses can interact with potential customers, partners, and industry managers, establishing relationships that can lead to profitable collaborations and partnerships.
Did you know that Zenergy offers social media training with a module dedicated to LinkedIn for Professionals?

#FunFact
By 2025, almost 80% of B2B sales interactions between suppliers and buyers will occur through digital channels.
Source: Gartner

#Poll: Which business themes are you most excited about implementing or exploring this year?

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Share Your Insights!
Showcase your ideas and discuss what’s on your mind by being a guest columnist in our weekly newsletter! With a reach of more than 20,000 monthly readers and an average open rate of over 35%, you’ll get the attention of industry leaders directly.
Contact us

#ServiceFeature: Commercial Real Estate Marketing 
Clearly communicating the unique features and potential uses of commercial real estate (CRE) properties is essential. Marketers must tailor messages to appeal to specific industries or businesses that could benefit from the property’s characteristics to create compelling narratives that resonate with potential tenants or investors.
#ProTip: Combining visually appealing content, strategic digital marketing efforts, and a focus on unique selling points will help create a compelling CRE marketing strategy.
Watch this video for a sample of some of our work in CRE.
2024 Valentine’s Day Consumer Trends
Sparks are flying this Valentine’s Day as consumers get ready to show their loved ones how much they care. According to the 2024 survey by the National Retail Federation (NRF) and Prosper Insights & Analytics, a projected $25.8 billion will be spent on Valentine’s Day this year in the US.
The NRF predicts that in the US:
  • 53% of Americans will celebrate Valentine’s Day.
  • Average consumer will spend $185.81, representing record spending with new highs in the romantic gift categories.
  • The top gift will be candy (57%).
Wishing all our FG readers a very happy Valentine’s Day!
#InspiIRe
ESG: It’s Everywhere. Spoiler Alert: It’s Here to Stay.
Employees, customers, and stakeholders alike understand the importance of complying with evolving environmental and social standards. In fact, they are key factors in decision making among investors. If your company is looking to expand, develop, and communicate its environmental, social, and corporate governance (ESG) strategy, our IR team is here to help.
In an era where options have become seemingly endless, there’s no reason to settle for an IR solution that doesn’t fit your company’s unique needs. Many firms offer an ‘all or nothing’ approach but at Zenergy, we pride ourselves on adapting and offering a personalized approach.

What We’re Reading

Please share what you’re reading by tweeting #FGFreads or DM us.

#FGStory: Conservation Triumph: Revitalizing Ecosystems and Species Worldwide
Island Conservation, a non-profit conservation organization, has successfully cleared 65 islands worldwide of a deadly invasive organisms, benefiting 1,218 populations of 504 species.
For example, eradication programs have restored the native habitat on Seymour Norte and Mosquera islands on the Galapagos archipelago, befitting seabirds like the Frigatebird.

#ProInsight

“In any business, it is crucial to think of everything as being connected. We often try to segment and compartmentalize areas of our business, but in doing so, we inadvertently create silos and inefficiencies. Recognizing and fostering interconnectedness not only enhances collaboration but also drives innovation and sustainable growth for the entire organization.”
Linda Farha
President, Zenergy Communications
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2024 SALARY INCREASES: CANADIAN ORGANIZATIONS MAINTAIN THEIR BUDGET

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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Zenergy Communications

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