Canadian workers more optimistic on business investment, hiring: BMO survey
Found 38 per cent of respondents believed their employers would hire more people this year
TORONTO—Canadians are feeling more optimistic about the workplace, according to a new Bank of Montreal poll, which found higher expectations for everything from investment to hiring.
The survey—conducted in November by Pollara—found that 38 per cent of the 1,000 respondents believed their employers would hire more people this year, up 21 percentage points from 2012.
“This increased optimism can also be seen with the 45 per cent that expect their employer to make investments in new equipment and technology—up 25 percentage points from last year,” BMO said.
Meanwhile the survey found that 42 per cent of those questioned nationally expected employee training and development programs to be offered by their employer this year—up 24 percentage points from last year.
“Canadian companies are making strategic investments to upgrade technology and processes, open up new markets, and invest in people,” Steve Murphy, senior vice-president, BMO Commercial Banking, said of the survey results.
“Businesses are looking to become as productive as possible and that may mean taking advantage of historically low interest rates to finance their growth plans and upgrade their talent pool.”
Regionally, Albertans were the most likely to say that their employer will be hiring more people in the coming year (52 per cent).
They were also among the most likely to say that they will be investing in training (55 per cent) and purchasing new equipment (55 per cent).
However, the greatest increase in employee optimism was in Atlantic Canada.
The poll found 38 per cent of respondents there expected more hiring, up from six per cent in 2012; another 38 per cent believed employers would invest in training, up 21 percentage points; and 47 per cent expected employers to upgrade technology and equipment, up 34 percentage points from 2012.
Nationally, Quebecers were the least optimistic about improved hiring at 27 per cent.
That compared with 40 per cent in Ontario, 42 per cent in Manitoba and Saskatchewan and 52 per cent in British Columbia.
On employee training, 35 per cent of Quebecers surveyed expected employers to offer training this year; 44 per cent in Ontario; 43 per cent in Manitoba and Saskatchewan; and 40 per cent in British Columbia.
The survey found 39 per cent of Quebecers expected employers to invest in new equipment and technology, 46 per cent in Ontario, 47 per cent in Manitoba and Saskatchewan and 42 per cent in British Columbia.