More than one-half (58 per cent) of Canadian employees are aware of the talent war — the impact of a demographic shift caused by the retiring baby boom generation combined with declining population growth — and the direct impact on their careers, according to Randstad's latest Global Workmonitor survey.
The same percentage of Canadian employees would be happy to work two more years beyond their official retirement age, but only if they earned five per cent more. One-half (49 per cent) would work two more years without the financial benefits, found the survey of 29 countries, with at least 400 respondents in each country.
Chinese employees feel this most strongly (73 per cent), United States employees sit below one-half (49 per cent), while Germany is at the other end of the spectrum at 18 per cent. In the Czech Republic, Germany, Hungary, Luxembourg, New Zealand and Slovakia, less than one-third of employees feel the larger group of employees retiring will directly impact their career opportunities.
Globally, one-third of the respondents indicate their organizations are already having trouble hiring well-qualified staff to fill vacancies while 57 per cent of Canadian employees noticed the majority of colleagues who recently left their company were performing very well, which means qualified employees are leaving. Almost two-thirds (63 per cent) of Canadian employees say they do not clearly see well-qualified colleagues around them since the financial crisis, found Randstad.
As employers struggle to attract workers with the right skills grows, employees are feeling the pressure mount when it comes to their skills requirements and work responsibilities, according to the survey. Almost one-quarter (23 per cent) of Canadian and U.S. employees admit their job requirements are beyond their abilities and an even higher percentage of employees acknowledged this fact in France (49 per cent) and India (44 per cent).
And one-half (51 per cent) of Canadian employees feel their career now demands more education and training than ever before.
"Both employers and employees are starting to experience the effects of the demographic shift. A strong and compelling organizational culture, training opportunities and coaching and career development support — these are some of the key strategies employers will need to focus on to ensure they tackle their recruiting challenges and successfully attract and retain employees with the right skills. With these tools in hand, employees will be better positioned to cope with the changing job requirements and increasing responsibilities of the workplace," said Jan Hein Bax, president of Randstad Canada.
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