How Canadian employers are recruiting and retaining post-secondary grads: study

Canadian employers are working harder and spending more to recruit and retain recent post-secondary graduates. Based on responses from hiring managers at 95 of Canada’s largest companies, a study by Morneau Shepell in cooperation with the Business Council of Canada found that:

• 83 percent participate in co-op programs and other forms of work-integrated learning initiatives to help them identify potential new employees, compared to 76 percent two years ago

• Companies are investing more in training: 51 percent spend more than $1,000 per employee per year on average, and 30 percent $500-$1,000 per worker, up from 46 and 24 percent respectively two years ago.

• 57 percent say ta shortage of skilled workers is having a moderate (40 percent) or severe (17 percent) impact on their industry. The top five areas for skill shortages were: information technology; skilled trades; analytics, statistics and quantitative analysis; engineering; and leadership/management.

• 70 percent say their expectations of new graduates are higher now than five years ago due to a changing work environment resulting from rapid technological advancements.

• Employers say that new graduates typically expect more from the workplace than their predecessors did five years ago. They are looking for more money, challenging assignments, increased flexibility and mobility, and quicker advancement.”

• 46 percent expect that artificial intelligence and automation will result in an increase to their workforces, while 41 percent predict a decrease.