Cisco Systems Inc. is exploring shifting a percentage of its Canadian employees’ bonuses into their base pay to help staff contend with the impacts of inflation.
The company’s decision comes as workers across the world are finding their paycheques aren’t going as far as they used to amid higher costs of living as a result of rising inflation. In an emailed statement to Benefits Canada, a Cisco spokesperson said a recent internal global survey sought to better understand what matters most to them regarding compensation, and, as reported by Bloomberg, it found employees wanted more cash in hand.
“Cisco is committed to ensuring our compensations programs are competitive and fair for all employees. They consist of several different parts, including salary, bonus, equity and benefits, and we monitor the market as well as economic conditions and incorporate adjustments into our regular programs.”
The company is also experimenting with a four-day workweek for some of its employees and evaluating its long-term real estate strategy. “We are taking steps to ensure efficient use of our facilities and align for future workforce demands,” noted the spokesperson. “This includes consolidating some of our larger sites that are no longer fully utilized, as our teams continue to adopt flexible working patterns. We are committed to providing a positive work environment for all that supports a culture of inclusivity and well-being.”