Human Resources professionals say their jobs are harder than ever, as they try to recruit and retain their employees in a difficult job market
Let’s be real, the job market has been utterly wild since 2020. We went from firing and furloughs during the early days of the COVID pandemic, to now fighting a war to find decent talent.
Canadian human resources professionals are focusing towards the current state of retention, hiring and immense pressure to fill vacant positions. Why are people leaving, why aren’t people returning to work and which departments are suffering most?
How does the current landscape look?
About 75% of hiring managers say the recruiting is harder than ever since the pandemic.
100% of employers said the current hiring environment is “mild to highly competitive”
33% think that “hiring will not get easier for at least a year.”
57% percent of employers say voluntary resignations are higher than previous years.
At 35% and 31%, respectively, sales and customer service departments are seeing the highest resignation rates.
Who’s leaving and which stage of their career?
- 52% entry-level employees are quitting
- 37% for mid-level (non-management) employees have handed in their notice
- 74% of respondents said they are struggling to hire qualified talent.
- 80% of employers said their companies are doing everything they can possibly do to hire new people, though that confidence drops to 50% at companies that are doing nothing to respond to the lack of applicants in the tight job market.
How are companies combatting staffing shortages?
- Fifty-nine percent will be adding benefits or perks.
- Sixty percent will be increasing wages.
- Forty percent will be offering retention bonuses.
- Thirty-one percent will be expanding culture/engagement initiatives.
- Luckily, only 7% will be doing nothing.
Reports indicate that 64 per cent of Canadian businesses say labour shortages are limiting their growth.
T he future
Whilst there are distinct winners and losers in this employment war for talent, the businesses that support the engagement of professionals and encourage their leaders with new ways of thinking, will be the companies that grow and thrive.
It seems clear that some companies are stuck in the past. The new and future world of post-pandemic work requires leadership to pay sharp attention to their employees.
Interestingly, new research published from the Business Development Bank of Canada (BDC) has reported that 64% of Canadian businesses indicate that labour shortages are limiting their growth.
If you are experiencing short staffing, illnesses, mass resignations or simply are the opposite and are too busy to cope in your marketing department, the team at ToffeeJar Marketing can help.
With support for 1 hour upwards a month, we are flexible to fill any void you may be experiencing. So, rather than be a sad statistic, contact us today for flexible, expert assistance and be one of the companies that can conquer the pandemic staffing issues, without missing a beat!