Normandin Beaudry, a Leader in Total Rewards and Actuarial Services Consulting, Opens a New Office in Toronto as Part of its Strategic Expansion and Launches Pulse Salary Survey Ahead of 2022 Indicating Higher Wage Increases than Originally Anticipated
Toronto, ON – (December 2, 2021) – Normandin Beaudry, a leader in total rewards and actuarial services consulting, is pleased to announce the opening of a new office in Toronto’s downtown core. The company established a foothold in the city in 2018, and today announced its expansion to a new office with a broader team of experts as part of Normandin Beaudry’s growth and commitment to supporting its clients nationally.
“The collective intelligence and experience that our Toronto total rewards consultants have, most notably in Compensation, Performance, Group Benefits, Health and Communication, continue to deliver the ‘straight talk’ excellence that Normandin Beaudry has become known for since 1992,” said René Beaudry, the company’s founder.
Normandin Beaudry is recognized for its client-centric approach and this new office, located in the heart of Toronto’s business district, will allow clients and collaborators to easily reconnect with its consultants.
Toronto Straight Talk – The Need for Talent
Toronto businesses are struggling to retain and attract high-calibre employees, leading employers to offer a number of incentives including increased salaries, additional benefits, signing and retention bonuses, and increased flexibility. In fact, according to research recently published by the Business Development Bank of Canada (BDC), 64% of Canadian businesses say employee shortages are limiting their growth and impacting economic recovery.
Toronto-based leading expert in salary surveys Darcy Clark, Principal, Compensation at Normandin Beaudry stated: “Because current marketplace dynamics are constantly changing, the projected national salary increase budget of 2.8% from our Canadian salary survey conducted barely two months ago will likely not hold. Through our partnerships and ongoing dialogue with clients across multiple industries, we’re seeing indications that an extremely tight labour market, coupled with a sharp rise in inflation, point towards higher wage increases in 2022 than previously forecasted. In response, as companies begin formulating more definitive plans for next year, our team launched a refreshed salary increase pulse survey allowing us to understand and report how the market may be shifting. Based on the participation of 150 companies in the first 24 hours, this is definitely a hot button topic.”
Normandin Beaudry’s Market Leader and Principal, Compensation and Performance, Manny Campione, further went on to explain: “In the war for talent, companies must offer competitive monetary rewards such as salaries and they will also need to leverage non-monetary rewards including career advancement opportunities, inclusivity, connections to purpose and compelling work environments, etc. Organizations will need to develop a thoughtful comprehensive employee narrative that interests high quality candidates and reinforces employee loyalty.”
About Normandin Beaudry
Founded in 1992, Normandin Beaudry is a leader in total rewards and actuarial services consulting. Close to 300 employees working out of Montreal, Toronto and Quebec City 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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