/Posthaste: Survey reveals why a majority of Canadians are looking to change their jobs in 2020

Posthaste: Survey reveals why a majority of Canadians are looking to change their jobs in 2020


Good Morning!

A majority of Canadian companies, 62 per cent, expect their industry to grow above the national average next year, but they are unlikely to spread the wealth as more than half have no plans to raise their employees’ salaries beyond the rate of inflation, according to a new survey.

“The majority of employers are willing to pay more to attract new hires. But they aren’t applying the same philosophy to retain existing talent,” according to Hays Plc Group, a recruitment consultancy. Fifty-seven per cent of employers said they have no plans or are unsure about raising the salaries of current employees above the rate of inflation, according to the survey of 3,000 Canadian professionals and employers.

After enduring a wobbly 2019, 40 per cent of respondents said they intend to increase permanent headcount over the next 12 months — but that number is lower than last year’s forecast of 52 per cent. Meanwhile, 15 per cent of employers intend to increase temporary or contract staff and over a quarter have no plans to hire them at all.

Expect employees to react to the challenging environment, with 58 per cent of respondents expressing serious interest in leaving their current role. The main reasons?

“Rising expectations about compensation, development opportunities, and the maintenance of a positive company culture. In fact, lack of clarity about career development and advancement beat salary as the reason why employees would consider leaving their current role,” the survey concluded.

Beyond the lure of salary bumps, employees were also interested in working for companies that offered vacation time of three weeks or more (preferred by 76 per cent of respondents), health and dental coverage (52 per cent) and flexibility to work from home (43 per cent), the survey showed.

Here’s what you need to know this morning:

  • Finance Minister Bill Morneau and provincial and territorial finance ministers in meetings
  • Statistics Canada releases its monthly survey of manufacturing for October
  • Agriculture Minister Marie-Claude Bibeau and Ontario Agriculture Minister Ernie Hardeman meeting federal, provincial and territorial ministers of agriculture
  • Bill Walker, Associate Minister of Energy, along with Lisa Thompson, Minister of Government and Consumer Services, to make an announcement in Lucknow about natural gas expansion in Ontario
  • Federal Environment Minister Jonathan Wilkinson will announce support from the government of Canada’s Low Carbon Economy Fund for climate action
  • Alberta government’s challenge of the constitutionality of federal carbon tax to be heard in Edmonton
  • First Nations including the Tsleil-Waututh and Squamish argue in the Federal Court of Appeal that Canada’s most recent round of consultation on the Trans Mountain pipeline expansion was inadequate

Canada’s federal budget deficit will be billions of dollars deeper than it was supposed to be this year and next, according to the Finance Department.

The figures released this morning show that the Liberals’ projected deficit of $19.8 billion for the 12-month period that ends in March is now slated to hit $26.6 billion, the Canadian Press reports.

And next year’s deficit is expected to be $28.1 billion, before accounting for promises the Liberals will unveil in their 2020 budget.

 

— Please send your news, comments and stories to [email protected]. — Yadullah Hussain @YAD_Fpenergy

With files from The Canadian Press, Thomson Reuters and Bloomberg

 

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