One-third of working Canadians think their employer will invest in employee training and development this year. Almost one-third (29 per cent) also expect employers will put funds towards hiring more people or purchasing more equipment, found a survey of 1,506 Canadians by BMO Bank of Montreal.
"Employees are the very foundation of a successful business and can be a source of competitive advantage. How a company attracts, develops and retains the individuals executing the business strategy should be a top priority for leaders," said Lynn Roger, senior vice-president of talent strategies and executive resourcing at BMO Financial Group. "Investing in employee training and development now, with a longer-term plan, will help business owners ensure they have a supply of talented employees who are prepared to take the company to the next level of performance.”
Other key findings:
• Workers in Atlantic Canada are more likely to expect their employers to put funds towards purchasing more equipment (41 per cent) compared to Alberta (33 per cent), the Prairies (32 per cent), British Columbia (24 per cent) and Ontario (23 per cent).
• 42 per cent of employees in Manitoba and Saskatchewan foresee their company investing in employee training, compared to 31 per cent in Alberta, 32 per cent in B.C., 33 per cent in Ontario and 34 per cent in Atlantic Canada.
• 37 per cent of employees in Manitoba and Saskatchewan believe their employer will invest in hiring this upcoming year, compared to 23 per cent in Atlantic Canada, 29 per cent in Ontario, 31 per cent in Alberta and 31 per cent in B.C.
"The Canadian economy is projected to grow by 2.7 per cent in 2011 and this is expected to increase the demand for labour by just over one per cent. The unemployment rate is expected to fall modestly to 7.4 per cent by the end of 2011," said Sal Guatieri, a senior economist at BMO Capital Markets.
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