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INCREASES OF 3.6% FORECASTED FOR 2024

Toronto, Ontario,  September 5, 2023 – Normandin Beaudry, a leader in actuarial and total rewards consulting services, just unveiled the results of its 13^th annual Salary Increase Survey. Close to 700 organizations took part in this 2024 edition of the survey conducted by Normandin Beaudry’s experts. The results suggest that Canadian organizations are planning fairly substantial salary increases—albeit slightly lower than those of the last two years—with an average increase of 3.6% in 2024, excluding salary freezes.

“While a recession remains a possibility in the coming months, organizations are planning on granting increases in excess of 3% for a third year in a row,” said Darcy Clark, Senior Principal, Compensation at Normandin Beaudry.

HIGHLIGHTS

Additional increases are needed to stand out

In 2023, nearly half of organizations allocated an average additional budget of 1.3% on top of their usual salary increase budget. Normandin Beaudry’s survey shows that 43% of Canadian organizations plan to grant an average additional budget of 1.0% for the coming year. Securing supplementary budgets has been a trend among organizations in recent years, driven by the uncertain economic landscape and competitive job market. With these additional funds, organizations have more leeway to address the pressure brought on by labour shortage by making strategic adjustments throughout the year to retain employees in critical roles, differentiate the compensation of top performers, or accelerate the salary progression of certain employees.

Salary freezes remain low

Only 1% of organizations froze wages in 2023, however double that number intend to do so in 2024. These particularly low numbers are most likely due to the ongoing labour shortage and high inflation, as salary freezes usually range from 3% to 5%.

Sectors setting the pace

In Canada, organizations in the professional, scientific and technical services sector reported the highest actual salary increase budget of 4.8% for 2023, compared with an initial forecast of 4.2%.

For 2024, the following sectors are setting the pace with higher-than-average salary budget increases:

• Professional, scientific and technical services: 3.9%
• Real estate, rental and leasing: 3.9%
• High technology: 3.9%
• Pharmaceutical and biotechnology: 3.8%
• Durable goods manufacturing: 3.8%
• Accommodation and food services: 3.7%

The current economic landscape and difficult job market conditions (low unemployment rate, labour shortage and possible recession) continue to put pressure on organizations. However, it should be noted that increases granted in 2023 are slightly lower than the initial forecasts, a sign that organizations are being cautious. This was not the case in recent years, as increases granted were higher to those forecasted. Despite forecasts for higher increases once again this year, companies would be wise to exercise caution, as salary increases represent a permanent increase in fixed operating costs.

Monetary and non-monetary components: A winning combination

Normandin Beaudry’s experts believe that striking the right balance of monetary and non-monetary components as part of their total rewards offering is what can help organizations stand out from the competition in more creative manner.

The interactive tool, with details by province, industry sector, type of organization and company size, amongst other data, is available here.

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, 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.

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 details, visit https://www.normandin-beaudry.ca/en/areas-of-expertise/compensation/

Media contact:

Zenergy Communications

media@zenergycom.com 

While traditional TV has held the reins of advertising dollars for decades, the shift towards Connected TV (CTV) is quickly gaining market share. CTV refers to devices that are connected to the internet and allow users to stream shows, movies and music. Over the past few years, subscription-based streaming services like Netflix and Crave have started to reshape the entertainment landscape, promising a future where CTV surpasses the conventional TV model. As viewer habits shift, so too must the ways in which advertisers reach their target audience.

CTV is still establishing its reach and lacks those monumental live events like the Super Bowl or Academy Awards. However, streaming giants are already finding ways to adapt. Enter Amazon Prime and its strategic acquisition of NFL Thursday Night Football two years ago. This trend is set to persist, as more streaming services vie for the spotlight with high-profile programming.

For advertisers, the name of the game is adaptability. They need to be vigilant and constantly monitoring the changing technology and viewing habits of their prospects. As the pendulum of influence swings towards CTV, staying ahead of the curve means aligning with the dynamic shifts in tech and viewer preferences.

The journey of CTV’s potential is just beginning, and the destination promises a content revolution begging the question to advertisers: will you be ready to ride the wave? 

JEAN RICHARD JOINS CDNGLOBAL TO DELIVER FULL-SERVICE EXPERTISE WITH LOCAL, QUÉBEC CITY KNOW-HOW AND GLOBAL CAPABILITIES

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The purpose of scriptwriting is to create the main concept of your video production in written form. It provides a predetermined look at what will be said and what scenes will be shot to match the overall message(s) being conveyed. Once written, the script will help determine and prepare the many different aspects that will come together to make the final product.

Writing a script will also give you a better idea of the direction you would like to go with your strategy. An effective script will outline the entire project, including the core message in a way that ensures a top-quality production. Additionally, it can provide a better idea of who you want to be in the video and what their role will be.

Scriptwriting is the time to define the purpose, the messages that the video is promoting, and how the content will connect with your audience. The strategy behind the script is vital to the success of the video as it must deliver its message(s) in a way that the audience will resonate with.

Consumers do not want to simply have a whole bunch of information spewed in their general direction. People want to learn about products and services through the special art of storytelling.

Your brand storytelling must take into consideration:

• Mood and feel of the video.
• Tonality of the speakers and voiceover.
• Set design including lighting, furniture, and decor.
• Integration of third-party content; this is especially important for some companies as video content may be produced by another office or supplier.

SCRIPTING FOR VOICEOVER VS. ON-CAMERA VS. ON PAPER

Writing scripts for voiceover artists is slightly different than cast scripting as on-the-fly adjustments are harder to make, and at times, not possible. Here are some tips to consider:

• Determine the level of formality and maintain a consistent tone through the entire clip.
• Pay attention to your word choices. If at the beginning of the clip you say, “Please try our service!”, then you should continue to use the same formal tone in the middle (“Note how it works”), and in the end (“Sign up today”).
• Specify how important brand words or names should be pronounced. Some words may need to be written out in English to avoid discrepanices. Indicate whether certain words should be pronounced in their English or French vairants. 
• Specify which vowel should be stressed in first and last names as well as specialized terms.  For example, the last name “Ivanov” could be pronounced either as “IvAnov” or “IvanOv”.
• Count the number of words in the voice-over script. The length of the video clip depends on the length of the voice-over script. Use the following simple formula to calculate the approximate duration of the video: a French speaker speaks approximately 195 words per minute (3.25 words per second) and an English speaker speaks an average of 150 words per minute (2.5 words per second). Correlate the length of the voice-over text with what exactly is going on in a particular scene. For example, if there is only one image in a scene, then the viewer is probably going to lose interest in viewing it for more than 5-8 seconds. But if the scene consists of five different items, then the viewer would need a minimum of 10 seconds to read and take in what is on the screen. 
• Write properly and try to avoid:   Stilted, awkward phrases: instead of “carry out an order”, say “order”; instead of “render assistance”, say “help”; instead of “carries out his work”, say “works”. Pleonasms: instead of “service to provide services”, simply write “service”; instead of “quickly and on time”, write either “on time” or “without delay”. Descriptive generalizations: instead of saying “qualified installers wanted”, write “every employee must have completed study of XXXX as well as a minimum 3-month-long internship.” Exaggerations: Do not make promises that you cannot keep. Be honest with your audience.
• Read the text aloud. You will pick out phrases that might sound ambiguous or comical when read aloud. 
• Read the entire text out loud from beginning to end while trying not to skip numbers, names, and website addresses. Rephrase sentences that sound out of place.
• Point out to the voice-over artist how proper nouns and titles should be pronounced.
• Ensure that your text is logically coherent. Imagine that the viewer knows nothing about your service: neither its name, purpose, nor the specific context in which it is used. Spell out the information sequentially, moving from the general to the particular and finally returning to the general. Specify exactly what you expect the viewer to do – provide a direct call to action.

Here is a typical sequence of steps to follow when presenting your product/service:

1. Present your product/service and describe its purpose in a few words.
2. Briefly describe the problems that your product/service solves.
3. Specify exactly how your product/service can be used to solve these problems while being sure to include specific actions: type, press, click, go, send.
4. If necessary, briefly describe any additional functionality that your product/service provides, for example: In addition, the product/service can…, besides that…, moreover…, etc.
5. In conclusion, emphasize the advantages of using your product/service: Thus, you can… .
6. End the video clip with a call to action: Visit, Sign up.

In the rapidly evolving world of retail, small businesses face unique challenges. With the advent of technology and the rise of e-commerce, local retailers must adapt to changing consumer behaviours and embrace innovative approaches to remain competitive. One powerful solution that has gained traction is the implementation of omni-channel strategies. The Retail Through the Lens of Omni-Channel program, has allowed me the privilege of working closely with small business owners, witnessing firsthand the transformative impact of this approach on local retailers and their communities.

The Power of Omni-Channel Retailing

Omni-channel retailing is a strategic approach that integrates various sales channels to create a seamless and personalized shopping experience for consumers. It allows small businesses to connect their physical stores with online platforms, including websites, mobile apps, and social media, enabling customers to engage with their brand across multiple touch-points. By embracing this holistic approach, small retailers can tap into the advantages of both online and offline shopping, thereby amplifying their reach and enhancing customer satisfaction.

Empowering Small Businesses

One of the most remarkable aspects of the Omni-Channel program has been witnessing how it empowers small businesses. Traditionally, local retailers have struggled to compete against larger e-commerce giants. However, by adopting an omni-channel strategy, small businesses can level the playing field and even gain a competitive edge. Through careful integration and synchronization of their online and physical stores, these entrepreneurs can provide a consistent and personalized shopping experience that larger retailers often struggle to deliver.

Engaging with the Local Community

Beyond the business benefits, omni-channel strategies have a profound impact on the communities in which these small retailers operate. By embracing digital platforms, local businesses can extend their reach beyond the confines of their physical locations, attracting new customers and building brand loyalty. In turn, this increased footfall benefits the local community by driving economic growth, fostering job creation, and promoting a vibrant and diverse retail ecosystem.

Utilizing Experience and Expertise

I have had the privilege of working with small business owners to implement omni-channel strategies. I have witnessed the transformative power of this approach and its ability to revitalize struggling businesses. By leveraging the experience and expertise of industry leaders in the Retail Through the Lens of Omni-channel module, retailers have been guided through the complex process of digital integration, sharing best practices, and helping them navigate the ever-changing retail landscape.

Omni-channel retailing represents a beacon of hope for small businesses navigating the challenges of the modern retail landscape. Through the strategic integration of online and offline channels, local retailers can create a personalized and seamless shopping experience that resonates with customers. As we continue to support small businesses and their communities, the adoption of omni-channel strategies will undoubtedly play a pivotal role in their success. By harnessing technology and expertise, we can empower these entrepreneurs and help them thrive in the ever-evolving retail landscape.