How will the inflation rate affect your employees?
The inflation rate in Canada is up to 7.7% and the average salary increase for an employee in 2022 is 2.7%.
The numbers obviously don’t add up.
So don’t be surprised if your employees look to other opportunities that offer them more money, or start side businesses and part-time work in order to make ends meet.
Pay your employees what they are worth and don’t stand in their way for simply trying to put food on the table.
We are all just trying to survive.