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(For your 50% membership discount coupon, please login to your membership account and copy the coupon code from the main membership webpage)
Being able to make informed compensation decisions is key to the attraction, engagement, and retention of qualified and committed employees. To assist petroleum sector companies with this important task, Western Compensation & Benefits Consultants (“WCBC”) in conjunction with Enserva, conducted a comprehensive report across Canada on the compensation paid to select benchmark positions. The purpose of the report is to assist companies in making informed decisions on how and how much to pay their employees and thereby stay competitive in the marketplace.
In anticipation of the Enserva Total Compensation Survey’s permanent move to a Spring timeframe starting in 2024, there was a pressing need among members for current compensation data crucial for budgeting purposes. To address this, WCBC facilitated an interim report for 2023 by undertaking the following steps:
WCBC initiated contact with organizations that participated in the 2022 survey to determine the typical increase in base salaries since September 1, 2022.
Leveraging responses from each member, WCBC projected 2023 base salary compensation by aging the 2022 data for participants.
While bonuses, commissions, overtime and field pay couldn’t be aged, WCBC simulated total cash by combining the aged base salary with the corresponding 2022 figures for bonuses, commissions, overtime and field pay.
Data collection for this report took place during the period from September to December 2022.