Employers take wait-and-see approach to hiring
July 30, 2022
By HR Reporter
Half (50 per cent) of Canadian employers say they need more employees but lack the capacity to hire.
This is far more common among employers with more than 100 workers (63 per cent) compared to those with fewer than 10 employees (38 per cent), finds a survey by Express Employment Professionals.
Why? More than four in 10 (44 per cent) employers say it is because they are adjusting their recruiting and hiring strategy. Another 42 per cent say they are waiting to see if the workload will level out before hiring additional employees.
“Inflation is a big cause of concern for companies being cautious with their budgeting,” says KV Aulakh, Express franchise owner in Barrie, Ont.
“In addition, some companies believe we are in the beginning stages of a recession, therefore the best idea might be a ‘wait and see’ approach.”
However, this is not an ideal tactic, says Aulakh.
“Depending on the length of a potential recession, it would be a smart idea to continue to hire as more quality candidates will become available due to a recession or fear of a recession. Companies that already have high-quality employees on board at the tail end of a recession can hit the ground running.”