Death of ‘jobs for life’ greatly exaggerated

Counter to widely held projections, job stability hits all-time high: CIBC
By Liz Bernier
|Canadian HR Reporter|Last Updated: 09/15/2014

It’s not what most of us would expect in the wake of a global recession and sluggish economic recovery, but here’s the news: Job stability in Canada is stronger than ever.

That was the central finding of a CIBC World Markets report, which found there is a 60 per cent chance Canadian workers will stay with an employer after completing their first year on the job. That retention rate hit 95 per cent for employees with tenure of five years or longer with the same company — a record high, according to Nick Exarhos, co-author of the study and an economist at CIBC in Toronto.

“Though it does appear that people are sometimes struggling to get jobs, once they enter through those narrower gates, they enter a career that features more stability,” he said.