Magazine article Talent Development

Canadian Workers Have High Hopes for 2011: As the Economy Grows, Canadians Are Expecting Their Companies to Invest More in Training and Hiring in 2011

Magazine article Talent Development

Canadian Workers Have High Hopes for 2011: As the Economy Grows, Canadians Are Expecting Their Companies to Invest More in Training and Hiring in 2011

Article excerpt

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Working Canadians seem to be getting good vibes from their employers about 2011. According to a new survey, working Canadians believe that their employers will be investing more in their skills and adding more employees.

In an online survey conducted by BMO Bank of Montreal, 33 percent of working Canadians think their employers will invest in training in 2011, 29 percent expect to see new equipment purchases, and Canadians between the ages of 18 and 34 expect to see more hiring. The survey included responses from 1,506 Canadians, 18 years and older.

This optimism comes at a time when Canadians are seeing the economy starting to recover, says Richard Rudderham, deputy head of human resources for BMO. The Canadian economy is projected to grow by 2.7 percent in 2011, which is expected to increase the demand for labor by slightly more than 1 percent, notes Sal Guatieri, senior economist, BMO Capital Markets. Plus, the unemployment rate is supposed to drop to 7.4 percent by the end of the year, he adds.

"Employees are the very foundation of a successful business and can be a source of competitive advantage. How a company attracts, develops, and retains individuals executing the business strategy should be a top priority for leaders," says Lynn Rodger, senior vice president, talent strategies and executive resourcing at BMO Financial Group.

Working Canadians in Manitoba and Saskatchewan, which, at 5.1 and 5.5 percent, respectively, have the lowest unemployment rate in all provinces (7.6 percent) and had the highest expectations. Forty-two percent of employees predict that their companies will invest in employee training, compared to the average of 33 percent, and 37 percent believe their employers will invest in hiring new talent. …

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