A 2013 report by the Canadian Chamber of Commerce estimates that by 2016, Canada will face 1.5 million vacancies for skilled jobs. Yet the Government of Canada debates the issue of an existing skills shortage citing that there is more of a skills mismatch where technology changes render some skills obsolete. The Government does recognize that there are regional and sector specific shortages and that more labour market information is needed to access this data at a granular level. Whether imagined or real, a recent Ipsos Reid survey of more than 2,000 respondents found that 90% of Canadians believe there is a skills shortage and that it will continue to grow.
According to a recent Randstad Canada study, the top five industries for jobs are:
* A study by the Canadian Council of Chief Executives (150 of Canada's largest employers) reported that engineers topped the list of workers most difficult to find and retain, followed closely by information technology professionals.
Based on the 2013 Government of Canada's Economic Action Plan, by the year 2020, 600,000 workers will be needed in the following roles -
Experts say that globalization, an aging baby-boom population, and technology changes contribute to this shortage of skilled workers. A 2012 McKinsey Global Institute report estimates that by 2020, the global economy could see employers looking to fill 90 to 95 million low-skill worker jobs.
The numbers are staggering. Whether in Canada or internationally, there are ways for employers to address attracting talent. Some helpful tips to consider include -
For more ideas and tips attracting talent and ensuring you have the right employee benefits package to meet your needs, please contact us. We're here to help so that you can focus on what you do best.
Employees will leave an employer for various reasons. Some relate to a spouse needing to relocate, others for family or more personal factors such as starting a family or going back to school. While there are some reasons that are beyond the control of an employer, there are a number of others that fall within an employer's domain.
When talent leaves an organization, there can be a significant productivity hit as well as the impact on morale and knowledge loss. Many organizations know about the importance of creating a healthy workplace culture as well as the benefits of having a highly engaged workforce, yet for many employers, the quest for high levels of engagement remains somewhat elusive.
Human Resource professionals frequently talk about talent management and leadership development while watching as their key resources leave their employ seemingly unexpectedly.
How do employers foster and develop their top talent in order to avoid seeing employees head out of the organization? Whether it is Gallup research or other recent employee surveys, the results continue to provide consistent feedback: employees leave when they don't connect well with their leaders and when they don't feel their employer values them.
Did you know that more than 30% of employees believe they'll be working else within the next 12 months or that more than 40% of employees don't respect the person to whom they report. In addition, more than 50% of employees say they have different values than their employer and more than 70% don't feel appreciated or valued by their employer.
Hiring people into leadership roles because they want to lead and have the ability to manage well is important. They also need to be rewarded for talent retention and their focus on fostering high levels of employee engagement.
According to Nicola Styles, Career and Lifestyle Specialist, companies will benefit by being clear about their vision statement or purpose. Helping employees identify with the company's purpose goes a long way to helping them keep these goals top of mind and working collaboratively to achieve desired results.
According to top 12 employee engagement questions used by Gallup, also known as the Gallup Q12, when employees were asked the following question, "The mission or purpose of my company makes me feel my job is important" the results indicated that there was a direct correlation between how employees feel about their company's mission. As a result, the best workplaces give their employees a sense of purpose and enable them to make a difference.
Another key reason talent leaves involves employees feeling that their employer isn't recognizing, rewarding or enabling them to do their best work. What factors play into this scenario? There are several including recognizing the value of employees by offering them group benefits and retirement plans. Doing so allows employees to focus on doing their best work every day and it demonstrates an environment of caring and respect that ladders up directly to building a healthy workplace culture.
Employees who are stressed about their personal finances or who don't feel they have support and the resources to effectively save for their retirement can be distracted at work. A drain on engagement and productivity, employers who offer group benefit packages including financial education seminars and information sessions to explain details about benefits coverage go a long way to demonstrating a culture of caring and a desire for the well-being of their employees.
There are many innovative ways to enhance employee awareness of an employer's commitment to their well-being through group benefits and pension plans. We have the expertise available to help you. Please contact us to ensure you're considering all the options to ensure your top talent doesn't leave.
We're here to help so that you can focus on what you do best.
Dave Dickinson, B.Comm, CFP, CLU, CHFC
Experienced Benefits Specialist ready to optimize your group benefits and pension plans.