The majority of Canadian businesses feel new hires require at least basic training, according to the results of a BMO survey released yesterday.
These results come just two weeks after the federal government announced the introduction of the Canada Job Grant as part of the 2013 Federal Budget, which could provide $15,000 or more per trainee.
The results showed that 38% of new hires require basic training, and 22% require “significant” training and guidance.
“The level of talent and expertise of a small or large business’ employees are the very foundation of success and are often the source of competitive advantage,” said Steve Murphy, BMO Bank of Montreal senior vice-president, commercial banking.
“Whether it’s enrolling new and existing employees in specialized training programs at community colleges, career colleges, union training halls or through internal programs, ensuring there are resources dedicated to the training and development of new employees is essential and should continue to be a top priority for business leaders.”
BMO Capital Markets chief economist Doug Porter said Canada is still in a strong position in terms of overall access to labour.
“With a 7.0% unemployment rate, the share of firms reporting labour shortages is especially low,” said Porter, citing a recent Bank of Canada survey. “Only 25% of firms are reporting labour shortages, compared with a 15-year average of 35%.”
