October 29, 2018
A recent report by the Business Development Bank of Canada (BDC) says there is no relief in sight for the country’s current labour shortage that affects nearly 40 per cent of all small and medium-sized businesses. The report also warns employers can expect the shortage to continue for at least a decade.

Labour Shortage: Here to Stay, shares the findings of a BDC survey conducted from over 1,200 entrepreneurs, as well as historical and projected data on the growth rate of the work force in Canada.

Released in Sept. 2018, the report says the shortage is “in part, due to the strong demand for workers generated by robust economic growth here and around the world.”

The report also shares data collected on hiring strategies to show business owners what they can do to help cope with the issue. The report explains how to develop an employee value proposition to sell the merits of the business to both new and existing staff, how to stand out from competitors with a flexible work environment, and tips on hiring immigrant workers as well as less-qualified and younger staff.

Statistics in the report also illustrate the benefits of having strong human resources policies to find and retain top workers, including an employee manual, detailed job descriptions and a clear organization chart.