Job market to remain resilient

Despite economic uncertainty, the job market will remain resilient heading into 2024, says research from Robert Half. More than half of Canadian companies (54 per cent) plan to add new permanent roles in the first half of the year, while another 40 per cent anticipate hiring for vacated positions. In addition, 68 per cent expect to hire more contract workers. 

The top reasons cited among those who plan to expand hiring are: 

• Company growth (61 per cent) 

• Lack of requisite skills among current employees (50 per cent) 

• Capitalizing on top talent laid off from other companies (48 per cent) 

• Employee turnover (48 per cent) 

The survey says 89 per cent of organizations have difficulty finding skilled professionals and 64 per cent of managers find it takes longer to hire for open roles compared to one year ago. Organizations are also worried about keeping skilled professionals on staff and productive. When asked about their top concerns for the first half of 2024, 90 per cent of managers cited concerns with retaining top talent and 87 per cent said they worry about keeping teams motivated and engaged.