Rising wage demands eroding B.C. business bottom lines

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Union contracts increase staff compensation pressures for non-union employers

Union contracts being negotiated and ratified in B.C. could affect salary negotiations at private-sector firms.

British Columbia Teachers’ Federation members are voting Nov. 16 through 18 on a contract that raises wages about 13.5 per cent over three years. For small-business owners, these compensation increases can be crippling because it may not be possible for them to pass higher costs to consumers, said Jairo Yunis, Canadian Federation of Independent Business’ senior policy analyst for B.C.

“This is the most incredibly tight job market that we’ve had for quite some time,” agreed Business Council of British Columbia senior policy adviser Jock Finlayson. “The employer has to consider retention,” he said. “They want to make sure that their skilled employees are as happy as possible so they may want to focus on higher pay in the immediate short term, but without locking into longer-term commitments.”

 

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