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Why is Canada Facing Terrible Labour Shortages? Here's the Reason Why! Posted by Best Access Doors - Canada on 22nd Mar 2023

Canada has been facing a terrible labor shortage recently and hasn't gotten any better. While you might try to look at the pandemic as the source of all of this, it's only an aggravation to the already growing labor shortage problem. When did this problem start, and why is it only worsening? You should note these reasons why Canada is facing a terrible labor shortage.

When Did It Start?

The labor shortage became evident earlier last year when there were at least a million job vacancies in March. Another main reason for this is shifting demographics. With more and more people entering retirement age and decreasing birth rates over the years, Canada has struggled to fill these empty spots.

Labor shortages in Canada have been around for years, but government officials have chosen temporary solutions over permanent ones. Like the recent GDP loss, it is a recurring problem, and the percentage has increased over the years. The workforce has been falling since 2000. Despite the possibility of an increase in this sector, the downward trend seems to continue.

Why Is It Getting Worse?

Aside from the shifting demographics due to low birth rates, the pandemic also contributed to the labor shortage. The pandemic caused the closure of borders, and in the past years, only several people have been entering the country through immigration. Fewer and fewer of these numbers want to work in the hospitality sector because of the need for more customers. While immigration could ease the situation, studies show that Canada's workforce growth will stay nearly zero for years.

Who is Most Affected?

Recent studies have found that the sectors that will become most affected are the care economy. It includes jobs in elder care, teaching, healthcare, and construction. According to one recent survey, about 40% of small and medium-sized businesses have voiced concerns about finding new workers. The rising problem affects companies and will, in turn, make them one of the lowest-growth companies in the area.

Because of these labor shortages, almost 56% of existing staff must work more than they are paid for, while 47% of this number was raised by the entrepreneur hiring them. A good workforce is essential in any company, and the lack thereof would cause slow growth. While the indirect costs of these labor shortages are subtle, they are still very damaging to any company and its workers, especially those with senior staff. Due to the lack of workforce, there is no room for growth, new projects, or making value within client relationships.

What Can You Do?

In a recent study about the labor shortages in Canada, experts found a strategy for solving this issue, although it might only be for some. One hiring strategy that you can do to ease such burdens is to start hiring less qualified and younger workers. There are better solutions than this, but with the ongoing crisis, it can be difficult to sacrifice your business if you compare it to risking it with an employee with lesser experience.

Another solution that most business owners do is to change their compensation practices. Different ways would be to increase base pay and add a performance bonus. These business owners also started focusing on providing workers a better work-life balance to keep them from burning out or overworking them.

You Can Trust Us!

If you are a business owner, having a supplier you can trust is one of the best ways to ensure that your business flourishes, despite the recent drop in hiring. Access Doors Canada is the company you can trust for quality access doors and panels. Expand and grow your business today by calling (800) 679-3405! You can also send in a customized access door request.

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