This Article is About
skilled workforce
baby boomer generation
baby boomers
mass exodus
economic downturn
canadian population
employee engagement
skilled worker
unemployment rate
baby boomer
younger generation
self employment
The Impact Of Canada’s Positive Job Numbers On Our Shrinking Skilled Workforce
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The Impact Of Canada’s Positive Job Numbers on Our Shrinking Skilled Workforce

Canada has experienced its best job gains in 10 years, adding more than 95,000 jobs in the past month. The great thing is that most of these jobs are full time private sector jobs (vs part-time or self-employment roles). It is hard to imagine a downside to adding jobs, but for many industries and regions across Canada this means the hard-to-find skilled worker will be that much harder to find. Regions like resource based western Canada (with an unemployment rate of just 3%) will start to move back to the challenges they experienced before the economic downturn in 2009. These job gains come at a time when baby boomers are retiring. As more people retire, there are more opportunities for employment. More opportunities mean more choices. Employees, especially those of the baby boomer generation and the younger generation, will be less patient with their roles. The mass exodus of boomers leaving the workforce combined with this increase in job gains will continue to create challenges for many industries across Canada.

It is more important now than ever to focus your attention on Employee Engagement. This means not only attracting the right employees, but retaining them once you have them. Engaged employees stay with their current employer and recommend them as a place to work and do business. Engaged employees give higher levels of customer service while working better with their fellow employees. They are more productive and cost an employer less money. This is truly a time for organizations to regroup and position themselves for the future.

Baby boomers account for approximately 27% of the Canadian population and about 40% of the workforce. With a fertility rate of 1.7% we are not producing enough children to fulfill the growth needs of Canada’s resource based economy. In my travels I talk to many Boomers that feel they are not financially or emotionally ready to retire. In reality we should hope many of them do not retire. What we will continue to see is that many people will stay in the workforce, but will look for careers that are more fulfilling and enjoyable.

If you are a manager today you will need to engage every age group within the Canadian population in order to be successful. Not only look for the technically savvy young workers but also look to the aging workforce filled with wisdom and drive to work. It is never too late for an employee engagement strategy.

My next article will include advice on how to become an employer of choice.

All the best on your “Journey to Engagement”

With gratitude,

Eddie


Street Talk

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