Employment difficulties hinder Canadian companies’ growth: research

Employers are struggling to hire workers, forcing them to work long hours, and rejecting new orders, hindering the growth of the majority of Canadian companies, according to a new survey. ..

This survey (published by the Business Development Bank of Canada (BDC))pdfIt turns out that 55% of Canadian SMEs are struggling to hire the workers they need, and 64% of entrepreneurs report that labor shortages are limiting their growth. ..

Forty-four percent of entrepreneurs delayed or failed to deliver orders to their customers.

Due to labor shortages, 61% of employers had to increase their own or employees’ working hours and 49% had to provide more wages and benefits.

Pierre Clerou, Vice President and Chief Economist for Research at BDC, said: news release..

“Fortunately, while labor shortages continue, entrepreneurs can take important actions to limit the impact of this situation on their growth,” he said.

According to Statistics Canada, labor shortages are spread across different sectors of the country, hitting the hospitality and food service industries the hardest. Latest data About the recruitment rate.

BDC offers three solutions to address labor shortages, including the adoption of new technologies and automation, the use of formal recruitment processes, and the provision of comprehensive compensation packages.

The BDC states that the main reason workers will change jobs next year is to seek higher wages (57%) and then more benefits (32%).

The study also found that pandemics have led to sector movements within the labor market, with about 20 percent of unemployed workers moving to other employment areas.

The BDC survey includes a survey of more than 1,200 Canadian entrepreneurs and another survey of 3,000 workers on the impact of labor shortages on work.

Andrew Chen


Andrew is a Toronto-based reporter.