Dealership staff grossed about 13.5 per cent more total compensation in 2022 than in 2020, besting inflation of about 12 per cent. Indicators suggest that’s unsustainable
Pay raises for workers in Canada’s automotive retail sector outpaced historically high inflation over the last three years, but the looming impact of a recession and the prospect of rising vehicle inventories could pour cold water on optimism for further increases. Even some staff — especially those who have been raking in higher commissions — doubt the pace can continue.
“If you were getting 25 per cent as a salesperson, and you were averaging $1,000 or $1,200 [per vehicle], and now suddenly you’re holding at MSRP and getting $2,000 or $2,500, your bonus is higher,” he said.The survey results bear this out. Most dealership staff in positions that rely heavily on nonsalary pay typically saw their compensation rise quicker over the past three years than those that do not.
The labour market favoured job seekers in 2021 and 2022, said Tory McNally, director of human resources services at the Winnipeg-based HR consultancy Legacy Bowes. Many workers have turned that to their advantage by jumping to new employers, she said. “A lot of people who kind of sat on the sidelines and hoped their company would give them an increase at a good pace, that’s not an appropriate way to get your money,” O’Rourke said.But not all workers who have remained with their employers are staying idle, McNally said, with many agitating for raises far more often than in the past.
With a recession forecast this year, McNally said, companies might be unable to keep up with some of the pay raises and improved benefits they have been offering, which could put staff in a tighter spot.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Photographer captures 'serene' lynx for Canadian Geographic's 2022 Photos of the Year competitionAlan Poelman of Atikokan, Ont., is named Canadian Geographic's 2022 Photographer of the Year after capturing a photo of a lynx looking directly at the camera.
Read more »
Canadian Cannabis Survey finds more people bought legal product in 2022The Government of Canada\u0027s annual marijuana study has found that the adoption of legal products continues to grow.
Read more »
Canadian Cannabis Survey finds more people bought legal product in 2022The Government of Canada\u0027s annual marijuana study has found that the adoption of legal products continues to grow.
Read more »
Canadian Cannabis Survey finds more people bought legal product in 2022The Government of Canada\u0027s annual marijuana study has found that the adoption of legal products continues to grow.
Read more »
Driving By Numbers: 10 Best-selling auto brands in Canada in 2022ICYMI: 10 Best-selling auto brands in Canada in 2022 — via drivingdotca Bestselling Canada Automotive
Read more »
Driving By Numbers: 10 Best-selling auto brands in Canada in 2022ICYMI: 10 Best-selling auto brands in Canada in 2022 — via drivingdotca Bestselling Canada Automotive
Read more »