Over half of Canadian companies to boost hiring – Robert Half survey

54 percent of Canadian companies plan to create new permanent roles in the first six months of 2024

Over half of Canadian companies to boost hiring – Robert Half survey

According to a new survey from Robert Half, 54 percent of hiring managers aim to add new permanent roles in the first six months of 2024. Furthermore, the State of Hiring Survey found that another 40 percent anticipate hiring to fill vacant roles.

Managers cited growth, skills gaps, and turnover as key factors influencing their hiring decisions.

Of those planning to expand their workforce, 61 percent identified company growth as the primary factor, followed by a lack of necessary skills among current employees at 50 percent. The survey found that capitalizing on talent laid off from other companies and addressing employee turnover were also significant considerations, both cited by nearly half (48 percent) of hiring managers.

Moreover, 77 percent of those who had postponed projects in 2023 planned to resume those initiatives in 2024.

Hiring and retention challenges

The survey found that 89 percent of organizations reported difficulty in finding skilled professionals, with 64 percent of managers stating that the hiring process took longer than a year ago. Key challenges anticipated in the coming year include a lack of applicants with required skills (53 percent), the urgency of hiring top talent (49 percent), and meeting candidates' salary expectations (48 percent).

“The first quarter of the year often brings with it newly approved projects and budgets. Combined with company growth plans and ongoing skills gaps in the labour market, employers need to be strategic to attract and retain top talent, in order to meet staffing requirements and fulfill business needs,” says David King, senior managing director at Robert Half Canada and South America.

Amid hiring challenges, companies express concerns about retaining skilled professionals and maintaining team motivation. The survey found that 90 percent of managers were worried about retaining top talent, while 87 percent expressed concerns about keeping teams motivated and engaged.

“Though expanding teams will be a big priority for companies in the new year, managers need to focus on the needs and wellbeing of their existing staff too, to boost retention and productivity. Regular compensation and benefit audits are key to ensuring you remain competitive, and offering perks such as flexibility can help lessen turnover,” King adds.

Robert Half’s State of Hiring Survey, conducted from November 1-20, gathered responses from 1,094 hiring managers in various sectors at companies with 20 or more employees in Canada.