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Eastern Ontario Employers: Adopt 4 Strategies to Ease Labour Shortage

The bank for Canadian entrepreneurs has made it official: there is a labour shortage in Canada. According to a study released in September by the BDC, 55% of Canadian entrepreneurs are struggling to hire the workers they need to sustain growth. 

So more than half of Canadian entrepreneurs find hiring difficult. On top of that, the study “How to Adapt to the Labour Shortage Situation: Hiring Difficulties Are Not Going Away,” which surveyed 1251 Canadian entrepreneurs and 3000 Canadians about their jobs, also found that: 

  • nearly 60% of Canadian entrepreneurs have lost business due to this labour shortage
  • the most affected regions are Quebec and rural businesses
  • the arts, entertainment, and recreation sectors are hardest hit by this labour and retention shortage, with agriculture being the next affected sector

Ease the Labour Shortage With These Strategies

The COVID-19 pandemic combined with an aging population have created a perfect storm for a labour shortage to occur. BDC suggests these strategies to help your business mitigate the Canadian labour shortage and sustain better business growth. 

  • Automate your business: BDC found that companies that have automated certain areas of their business are twice as likely to find hiring easy. Currently, only 25% of Canadian small to medium-sized businesses have fully automated one or more areas of their business. 
  • Adopt new technologies: Skills training and upskilling technologies are a great draw to a potential workforce because this tech shows employers are invested in job seekers’ success within the business. Other technologies, like recruiting apps and software as well as LMI data providers, can help employers target the ideal candidates. 
  • Use a formal hiring process: What BDC means is that business owners should have a plan for how and who they want to hire, and they should stick to it. Having a formal process keeps entrepreneurs organized, which is necessary when 61% of entrepreneurs must increase theirs or their employees’ hours due to labour scarcity, and their most valuable commodity, their time, is at a premium. 

  • Offer a complete compensation package: The study found that 49% of businesses need to improve their wages and benefits. 57% of workers want higher wages; that is one of the main factors that will cause a worker to leave their job in the next year, followed closely by a desire for more benefits, a feature desired by 32% of workers. 

For the most part, these strategies remain underutilized. Eastern Ontario employers should adopt them to see business success and growth in the coming year. To find more resources for recruitment and retention in eastern Ontario, visit the Get Help With Recruitment page.

External links are provided as informational resources only and are not necessarily endorsed by Ontario East. 

References: 

https://www.bdc.ca/en/about/mediaroom/news-releases/labour-shortage-study

 

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