Toronto skills shortage reveals a 22% increase in unfulfilled vacancies: Robert Walters poll
by CM Staff
The shortage – driven to a large part by changing demographics, with workers retiring at a faster rate than they can be replaced – has put a strain on employers.
TORONTO — Toronto has seen a 22% increase in the number of new jobs roles that remain unfilled – as companies continue to battle with an acute talent shortage in the city.
With over 150,000 jobs added to the economy this year, coupled with record levels of unemployment in the wider Ontario area, fears are growing that there is not enough local talent to support the growth of the region.
The shortage – driven to a large part by changing demographics, with workers retiring at a faster rate than they can be replaced – has put a strain on employers, many of which have had to alter recruitment practices to ease hiring pressures.
A poll, from specialist recruitment firm Robert Walters found that an overwhelming 44% of employers in Ontario would consider a candidates ‘potential’ over qualifications and experience – with a further third stating that they would not hesitate to hire from different industries if a candidate has at least ‘some’ transferable skills.
Martin Fox, Managing Director of Robert Walters – Canada, comments:
“Employers have been dealing with a lack of talent across Toronto for some time now – and this skills gap will not be filled overnight.
“For organisations to continue to develop and grow, employers should not be afraid to look internally for talent. Many employees have transferable skills and, with the right training, can be upskilled to bring great value to a business.”
Canada is having similar experience to the US on the accounting front – where in Toronto there has been a +10% increase in unfilled vacancies. This is far more pronounced across the border, where America has seen a 27% increase in unfilled vacancies following reports more than 300,000 accountants and auditors have left their jobs in the past two years.
Martin adds: “Much like companies in America, it wont be long before employers look to recruit remote talent overseas to help fill short term voids in the finance market, ahead of notable hiring peaks such as tax season.”
