Many of the employees who work in my office are what we refer to as “knowledge workers”. It takes years sometimes to learn their jobs, to learn how to properly do the work. A large segment of this expenditure is for a reasonable economic increase of 3.5% to their salaries on April 1, 2022, and also the payment of slightly more for fringe benefits as decided by the Treasury Board.
It's retention through a decent pay increase, which is far less than inflation but is still a good sign from the employer, i.e., me, that we value their services. That's where we will put that money. We will also put that money toward a staff survey, to make sure that they continue to be happy in their work and they provide good services.
We have a service standard that says, if you get in touch with us and you want advice, we'll do it within three days. Last year, it was met 95% of the time, and I would like it to stay that way. Therefore, I don't want to lose the precious advisers who provide those services.
That's what we're doing. We're trying to have a working environment that fulfills their professional aspirations, so they don't look elsewhere for a few dollars more.