Why Hiring Foreign Talent Can Help With The Canadian Labor Shortage
Right now, Canada is experiencing a significant labor/talent shortage. In fact, a study conducted by Proof Point found that “more than half of Canadian businesses say labor shortages are limiting their ability to increase production—up from 40% before the pandemic and 30% a decade ago.”
The impact of these shortages are far-ranging. Firstly, unfilled vacancies cost businesses considerable amounts of money every day, with a recent study predicting losses of $454 a week or $1800 a month when a job remains vacant. Unfulfilled vacancies also mean that your current employees are forced to fill in the gaps left by their absent teammates. This can cause both efficiency and productivity rates to plummet, putting your business on a downward spiral that can be hard to recover from. Overbearing your current workforce can also lead to burnout, which will worsen employee turnover rates.
“As such, it’s crucial that business owners across all industries find new ways to conquer the talent shortage – and hiring foreign talent through global employment platforms such as Joblio could be the solution you are looking for, “ said Ян Пурижанский, CEO and Founder of Joblio.
How can foreign talent help with the talent shortage?
There are many reasons why foreign talent can prove to be invaluable to Canadian business owners amid the talent shortage.
Firstly, “annual immigration in Canada amounts to around 300,000 new immigrants – one of the highest rates per population of any country in the world.” These figures are likely to rise considerably in the coming months, as Canada continues to welcome an influx of refugees – such as Ukrainians fleeing the Russian invasion under the Canada-Ukraine authorization for emergency travel (CUAET). This means that foreign talent makes up a considerable (and growing) % of job seekers in Canada. As such, your ideal candidate is likely a member of one of Canada’s vibrant immigrant communities.
Not only are there hundreds of newcomers actively looking for work – but they’re also bringing a lot of talent into the mix. While they may not possess the same formal qualifications as Canadian employees, they’re often more determined, more focused, and willing to adapt to any challenges you throw their way. They also have varied experience working across numerous key industries, such as construction, hospitality, and more. This, combined with their unique skillsets, means they’re an asset to any company they join.
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Despite the many benefits associated with hiring foreign talent, many employers are unwilling to take the leap. This is because they associate the idea of procuring international talent with a lengthy employment process through LMIA, wherein they must wait for several months to locate the talent, before embarking upon a complicated legal process while they obtain VISAs and other forms of documentation.
However, at Joblio, we work to ensure that you can enjoy the benefits of hiring foreign talent without the wait time. This is because we’re already embedded in new immigrant communities within Canada, helping talented job seekers connect with employers that need them.
“Our database contains over 10k new Canadian Immigrants, who are ready to start working right away,” said Ян Пурижанский.
Get in touch today to find out more via email at firstname.lastname@example.org or visit https://joblio.co.