According to the recent Randstad Canada Workmonitor survey, 75 per cent of employed Canadians say they expect their company to perform better financially this year than it did in 2015, and 63 per cent believe Canada’s economic situation will improve in 2016.
“Despite our sluggish economy and a low loonie, Canadians are confident about our ability to rebound quickly,” says Marc-Étienne Julien, CEO of Randstad Canada. “Canadians are eternally optimistic and with our dollar rebounding a bit in the first quarter and spending from the government promised in some of our hardest-hit areas, we do have reason to believe that we will end 2016 on a higher note than 2015.”
Not surprisingly, younger Canadians were more confident about the future than their older counter-parts:
- 68 per cent of 18-24 year-old employed Canadians believe the economic situation in Canada will improve in 2016, versus 58 per cent of 45-67 year-olds.
- 18-24 years-olds were much more likely to expect to receive an increase in financial compensation this year:
- 53 per cent of them expect to receive a one-time financial reward/bonus at the end of the year versus only 36 per cent of those ages 45-67
- 70 per cent of them expect to receive a pay raise at the end of the year versus only 55 per cent of those age 46-67
The need for STEM profiles
Canadians of all ages agreed that their employer has trouble finding the right talent today (54 per cent), and 40 per cent of them also said that their employer has an increasing need for STEM (science, technology, engineering, mathematics) profiles. More than half of respondents (55%) think that their employers should invest more in developing digital skills.
This is not entirely surprising, as Canadian employers have indicated for some time now that they struggle to recruit and retain the high-tech talent needed for our rapidly evolving workplaces in STEM fields. That being said, younger Canadians were least likely to say that more students should focus on a career in STEM, or that if they were 18 they would focus on a career in STEM (67% and 54% respectively, compared to 77% and 65% respectively for those 45-67 years old).
“Our research shows that young Canadians’ favourite subjects in school are science, math and technology, but that isn’t translating into a highly-trained technical workforce,” says Julien. “There’s a gap that needs to be bridged, and we all have a responsibility to address our country’s skills shortage.”
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