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RBC
The pandemic has had a significant and enduring impact on the labour market in Canada, as the country reached record-high job vacancies — with nearly 1 million jobs unfilled at one point. RBC called on experts and seasoned business owners to share their top tips and insights.

In 2022, business owners across the country faced an acute challenge: hiring and retaining qualified staff. For over 30 per cent of business owners, the labour force shortage was an expected obstacle in 2022, while retaining skilled employees was a concern for nearly 28 percent of owners. Indeed, as the unemployment to job vacancy ratio reached a historical low, labour shortages wreaked havoc on business owners’ ability to operate and grow.

And it’s not a challenge owners can expect to overcome soon. As Cynthia Leach explains in an RBC Thought Leadership report, “Canada’s labour shortages may be particularly acute as a result of the pandemic, but labour market tightness will outlive the next recession. Lack of working age people and shifting skills demand with the rise of automation, green investment and other factors will lead to chronic mismatches between jobs and workers.”

Given this particular headwind is expected to blow strong through the foreseeable future, RBC tapped into HR professionals, business owners and resiliency experts for key conversations, offering tips to help overcome staff challenges, become an employer of choice and avoid burnout — a condition reportedly suffered by two-thirds of business owners this year.

The stories below can help owners of businesses large and small manage through ongoing staffing issues and keep their top talent loyal and engaged.

 

 

 

 

 

 

A young black woman is working at a dry cleaning shop.

Tap into fresh talent with Magnet

Hire a student or recent graduate with skills matched to your business. Where eligible, access wage subsidies up to $7,000.

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Managing Payroll and Human Resources: Faster, Smarter, Easier with ADP

As a business owner, you’re managing more than ever. And, with limited time to get it all done — you can’t afford mistakes. You need a trusted payroll and HR platform that can help you manage this important part of your business, freeing you up to focus on driving your business forward.

Learn more