Canadian employers are emerging from a turbulent 2015 confident they will be growing their business in the coming year, according to a survey by Hays.
Nearly three-quarters of respondents anticipated business increases during 2015, however only 46 per cent actually saw gains. In fact, employers said business activity was down more than 10 per cent versus 2014 levels, suggesting the unsteady economy caught many off guard.
However, nearly 60 per cent of employers believe they are poised for success in 2016, found the survey of 3,307 respondents.
However, many employers said staff are under considerable pressure and efforts to alleviate burnout and low morale over the past year have had no effect. To help lighten the workload, one-half said they plan to hire new staff in 2016 but they lack the resources to properly recruit the new hires.
This is further complicated by the fact that nearly one-third of respondents don’t offer competitive salaries or are unaware of current market rates.
One-quarter said finding candidates was more difficult in 2015 than previous years. Yet 65 per cent said they aren’t hiring recent graduates or more junior candidates, citing issues such as a lack of industry knowledge and soft skills, as well as loyalty and training costs.
For the first time in two years, the Hays Salary Guide revealed that company reputation and awareness now tops the list of recruitment burdens. Respondents said stereotypes and company reputation results in fewer people pursuing careers in their industry.
· More than three-quarters (77 per cent) of Canadian employers have moderate to extreme difficulty recruiting talent.
· Sixty-one percent of Canadian employers have moderate to extreme difficulty holding onto staff.
· 42 per cent of employers feel that the skills shortage has resulted in productivity issues.
· Fewer than half (49 per cent) of Canadian employers find social media to be an effective tool for recruiting staff.