Local Agency Initiative to Improve Economic Outcomes for Businesses and Newcomers in the Region
Social Enterprise for Canada (SEC) is undertaking a Labour Market Partnership initiative to research the impact of changing demographics on the workforce. The goal of this initiative is to provide businesses with human resource and talent management solutions, in the form of tools and services, to assist businesses in leveraging local talent through consultative, collaborative and web-based communication.
Why Diversity Matters
The face of Canada’s workforce is changing. Canada’s workforce is aging and it is projected that there will soon be skills shortages in the local region as Baby Boomers begin to retire in coming years. In York Region, for example, one-third of the population is considered of the Baby Boomer generation. It should also be noted that the Greater Toronto Area is home to the most culturally diverse population in all of Canada.
Integrating skilled immigrants is important for business sustainability. In order to be sustainable, it is important for businesses to be proactive in dealing with changes occurring in the labour force. According to RBC, Canada will need at least another 2.75 million workers in the next 20 years over and above Statistics Canada’s long-term population projection to sustain the workforce. Currently, immigration accounts for all of the net increase in the labour force.
Is your business “diversity-ready”? Small and medium-sized enterprises (SMEs) typically have fewer resources than larger companies to facilitate the integration of skilled immigrants into their businesses; thus, they may experience the impact of labour shortages more heavily.
What can skilled immigrants bring to your business? Generally, newcomers to Canada are of prime working-age (25 to 44), well-educated and highly-skilled. Diversity in your business can increase access to consumer markets through the languages and networks that newcomers bring to an organization. Diversity can contribute to greater innovation, better decision making, and creative thinking.
Labour Market Partnership - What’s In It For Your Business
Social Enterprise for Canada (SEC) is dedicated to helping small and medium-sized businesses:
• Easily access tools and resources to help facilitate the hiring of skilled immigrants
• Improve hiring efficiencies
• Improve business outcomes
Please feel free to contact us if you are interested in learning more or engaging in our research process:
Judy Sawhney, VP Enterprise
Social Enterprise for Canada
17705 Leslie Street, Unit 11