"While the size of the labour force grew from 2016 to 2021 (+638,000 or +3.4%), the labour force participation rate — or the proportion of people aged 15 and older who are employed or unemployed—dropped from 65.2% to 63.7%," according to a report from Statistics Canada.
"As reported in the last census release on Canada's shifting demographic profile, a record number of working-age Canadians (21.8%) are close to retirement. This means proportionally fewer people working, which can have broader implications for Canadian living standards," continues the report.
Given this grim scenario, one would expect recruitment rates to be low. And yes, they are. Benefits Canada states that "61% of Canadian employers experiencing recruitment and retention difficulties said these challenges have increased over the last year, and 42% of employers say they anticipate these obstacles to continue over the next months."
Many people say that the implementation of hybrid or remote work could be the key to overcoming the challenges of recruiting and retaining skilled workers. Back in November, the 17th Floor hosted an expert panel called "Why Adopting a Hybrid Work Model Will Help You Attract, Retain and Engage Your Employees". Paul Pittman, founder of The Human Well, discussed with BOA member Kathryn Hill how hybrid work is here to stay, and why he considered it an evolution in the way we work.
Watch the complete webinar to learn more about how hybrid work can be the answer to the employee recruitment and retention difficulties we might face this year.