February 2007 ISSUE
CareerBuilder Survey Shows Hiring
To Continue in 2007
This year will bring strong hiring and more incentives for Canadian workers, says a new survey by online job site CareerBuilder.ca.
After recovering from slow hiring in the summer months, Canada posted its 14th year of consecutive job gains in 2006, adding more than 308,000 jobs, according to Statistics Canada estimates. Meanwhile, the national unemployment rate dipped to 6.3 per cent — the lowest level in nearly 30 years.
Taking advantage of a hot economy, 42 per cent of hiring managers expect to increase their number of full-time, permanent employees in 2007, while just four per cent plan to cut staff, the CareerBuilder.ca survey found.
Although 44 per cent of employers expect to add 10 or fewer employees in 2007, other companies have much larger recruitment plans. More than one-in-five hiring managers expect to add more than 50 workers, and more than one-in-10 plan to hire more than 100 employees.
The next three months will be especially strong for hiring. Forty-two per cent of hiring managers expect to add new employees in the first quarter, while just five per cent anticipate staff cuts.
But this favourable climate for job seekers could be troublesome for employers already coping with a shrinking labour pool as the baby boomers retire. Currently, 45 per cent of employers say they have job openings for which they can’t find qualified workers, and 16 per cent report it typically takes them two months or longer to fill their open positions.
Seven Major Hiring Trends
As employers struggle to stay competitive, Canadian workers will see higher salaries,
more flexible work schedules and better career advancement opportunities in 2007.
1. Bigger Paycheques — Eighty-three per cent of hiring managers plan to increase compensation for existing employees in 2007. Fifty-five per cent will increase salaries by three per cent or more, and one in five will boost pay by five per cent or more.
2. Diversity Recruitment — Recognizing the impact of workplace diversity on the bottom line, more hiring managers plan to aggressively recruit women and disabled workers in the coming year.
3. Rehiring Retirees — Nearly one in four employers said they will hire retirees from other companies or provide incentives to entice workers approaching retirement age to prolong their careers at their organizations.
4. Flexible Work Arrangements — Twenty-seven per cent of hiring managers said they are very or extremely willing to provide flexible work arrangements for employees such as job sharing or alternate schedules in 2007. Sixteen per cent are likely to allow workers to telecommute.
5. Career Advancement — Thirty-seven per cent of employers will be providing more promotions and career advancement opportunities for existing staff this year.
6. Training — Nearly nine out of 10 employers are willing to recruit workers who lack experience in their industry but have transferable skills. Seventy-eight per cent said they were willing to provide the necessary training and certifications to such candidates.
7. Expanding Overseas — Eight per cent of Canadian employers expect to expand operations and hire employees overseas in 2007.
Employees’ Job Satisfaction
Programs aimed at preventing turnover have contributed to strong overall job
satisfaction. Sixty-three per cent of workers report they are satisfied with
their jobs, and 19 per cent describe themselves as dissatisfied.
Still, a favourable job market is enticing candidates to search for more lucrative opportunities in 2007. Thirty-three per cent of workers plan to leave their current positions within one year, and 48 per cent expect to seek a new position within two years.
When asked about typical job factors that influence continued job satisfaction and retention, respondents conveyed the following:
Pay — Thirty-two per cent of workers reported dissatisfaction with their pay, and 37 per cent did not receive a raise in 2006. Of the workers who did see an increase, 30 per cent received a bump of two per cent or lower. In addition, two-thirds of workers did not receive a bonus last year.
Career Advancement — Thirty-four per cent of workers reported dissatisfaction with the career advancement opportunities provided by their employers. Eighty-five per cent of respondents did not receive a promotion in 2006, and 25 per cent believed they had been overlooked for one.
Work/Life Balance — Twenty-six per cent of workers reported dissatisfaction with their work/life balance. Forty-two per cent said their workloads were heavier than they were six months ago.
Training/Learning — Twenty-nine per cent of workers are dissatisfied with the training and on-the-job learning opportunities provided by their current employers. When considering new positions, workers said the most important attributes in a potential employer include
-
Good work culture (24 per cent)
-
Good career advancement opportunities (24 per cent)
-
Company’s stability and longevity in the market (19 per cent)
-
Ability to offer flexible schedules (10 per cent)