Promotions, Raises Await Workers Who Come Back to the Office: Canadian CEOs

Top executives at Canadian companies are growing less optimistic that they’ll be able to coax their employees back into the office — so most plan to reward those who show up in person, according to a survey by KPMG.

Only 55% of Canadian business leaders predict a “full return” to in-office work within the next three years, down from 75% a year ago in the firm’s survey of CEOs and executive decision-makers.

About three-quarters of Canadian executives said they’re likely to give “favorable assignments, raises or promotions” to those who come into the office regularly, KPMG said. That’s a little bit lower than CEOs in other countries, according to the firm.

KPMG said executives are worried about their companies’ ability to attract and keep skilled workers, and high housing costs are exacerbating the problem. The price of a typical home in metro Toronto and Vancouver is more than C$1.15 million ($847,000), forcing some people to move far away from city centers or flee to less-expensive regions.

Photograph: A Canadian flag flies in a courtyard in the financial district of Toronto, Ontario, Canada, on Monday, Jan. 16, 2023. Photo credit: Galit Rodan/Bloomberg

Related:

• Return-to-Office Is $1.3 Trillion Problem Few Have Figured Out

Topics Canada