Two independent studies have reported similar findings. Skill and talent shortages are a problem in Canada and a majority of respondents acknowledge the situation. The studies also offer two creative strategies for success in a tight labour market: (1) attract and retain, (2) retrain and retain.
The Hewitt Associates survey called Canadian Employers Struggle to Attract and Retain Employees concludes:
Canadian organizations of all sizes, in all parts of the country, and in all industries are finding it challenging to attract and retain employees, according to an extensive survey conducted by Hewitt Associates, a global human resources services company. As a result, a majority of the 232 survey respondents are implementing new programs focused on flexibility to address the problem.
More than half the respondents cited flexible hours and benefits as the most valuable way to attract and retain talent.
The Workplace Partners Panel (WPP) Viewpoints Survey titled Skills and Skills Shortages: The Views of Business, Labour, and Public Sector Leaders in Canada, released this finding:
The survey revealed that concerns about skills shortages have substantially increased since the first Viewpoints Survey was conducted in 1996. In that year, less than one-third of managers and only one in five labour leaders judged the shortage of skilled labour to be a serious problem. Today, well over 50% of managers along with nearly two-thirds of labour leaders describe it as a serious problem for the Canadian economy.
Skills shortages are a growing problem. The effects are being felt today. Solution? A true commitment to executing workplace training programs and making the related investments.
The Hewitt study suggests more flexible workplace policies and procedures to attract and retain talent. The WPP survey focuses on workplace training programs to improve the skills of existing workers. Both stress the need to more rapidly establish HR practices that support the strategies. Most importantly, these studies illustrate the opportunity of using talent management as a framework for strategic success.
