39% of employees would take pay cut for better career development: survey

More than a third (39 per cent) of Canadians would leave their jobs and take a pay cut at a new employer if it meant receiving better professional development opportunities, according to a new survey by ADP Canada.

Its survey of 828 Canadian employees found, among those who would leave and take a pay cut, 23 per cent would take a cut of five per cent less than their current pay and 12 per cent would take a 10 per cent decrease. Another four per cent would be fine with an up to 15 per cent pay cut and one per cent would settle for more than a 15 per cent pay cut.

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Some 40 per cent of respondents said their company rarely or never provides them with career development support. A third of respondents said their company doesn’t offer enough professional development support, such as skills development programs, technical training, career mapping or mentoring. Nineteen per cent said they haven’t asked for the support, while 14 per cent said their position wasn’t senior enough to receive it. Nine per cent said their boss doesn’t have time to address their professional development needs.

The survey also found 65 per cent of employees are ready for professional development but feel their company is selling them short, while 53 per cent think professional development would be nice but believe they probably won’t receive it from their employer. Additionally, 21 per cent of employees surveyed don’t place too much significance on professional development.

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“The paradox of a growth gap is that while many employers say they need workers to be increasingly adaptable to new tasks and responsibilities, many workers are saying they lack the development support to deliver on these expectations,” said Sooky Lee, general manager of human resources business process outsourcing at ADP Canada, in a press release.

“Whether the underdeveloped employees in your organization are ready, resigned or relaxed, this study should be a wake-up call for any employer that cares about employee retention and productivity.”

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