Workplace Challenges
Two silent threats to the Canadian job market:Which one will impact you?While the tumultuous economy dominates headlines from coast to coast, two threats to the Canadian job market are silently sneaking up. The lack of workers plus the impacts of outsourcing and globalization are becoming impossible to ignore. By Jennifer McFee, with additional files from Veronica Leonard |
|
 [ 2009-03-03 ] |
As baby boomers prepare for retirement, the Canadian job market must contend with a mass exodus of qualified workers.
Across the country, Canada faces a severe shortage of both skilled tradespeople and academically educated workers. This concern could cripple companies that don’t have enough employees to meet their demands.
To counter this shortfall, companies are getting creative. Many businesses are investing in co-op or part-time positions for university students. Others offer competitive benefits, recruitment bonuses and sign-on incentives.
The government is also involved in the solution through initiatives like apprenticeship incentive grants and tax credits.
As companies go global, specialized positions are sometimes outsourced to other countries, which means Canadian workers must compete for jobs in a worldwide arena. Similarly, local companies have to compete with foreign business that benefit from cheaper labour and material costs.
Savvy solutions
To further complicate matters, these threats are difficult to isolate since they all overlap. But as experts continue to seek savvy solutions, Canadian workers have reason to be cautiously optimistic. Provincial and federal programs — like the Provincial Nominee Program the Canada Research Chairs Program and the Northwest Territories Remissible Loan program — have been developed to address these threats to the national and regional job markets.
Which threat has you worried?
Skilled labour shortfall strikes Canada
Or read more about
Five tips to recession-proof your career
Are you aware of substance abuse in your workplace?