It is no secret that firms across Canada are operating in a market that is experiencing historically low vacancy and labour supply rates. Demand is outpacing supply several times over. Leaders of firms are having to find creative solutions to address these challenges in order to remain competitive.
Labour shortages are holding companies back. A government commissioned study completed by The Information and Communications Technology Council (ICTC)estimates that by 2021 there will be a shortage of 216,000 technology workers in Canada. The issue is not isolated to technology firms as Canadian companies in all industries are challenged. An aging population with retiring baby boomers contributes to the forecasted near-zero labour supply growth rate.
READ MORE of the article Written by Mark Petznick, Devencore