Canada’s population decline pressures talent strategies
Rethinking recruitment and retention when the talent pool shrinks
Shawn Gibson, Chief Human Resources Officer at Infotech Research Group in London, Ont., says the population numbers from StatCan track with what he has already seen on the ground, particularly in a technology sector that has historically leaned on immigration to fill skills gaps.
“I think it’s something to be concerned about, definitely in a pool where many organizations are looking for top talent like ours,” Gibson says. He outlines three priorities for employers competing in a tighter labour market: reassessing total rewards packages, building internal development programs so rising talent can be grown rather than recruited externally, and sharpening how aggressively talent acquisition teams pursue candidates rather than simply posting jobs and waiting.
“I think it’s even more important to have those internal programs to allow for growth and development of employees,” says Gibson. “So there might be somebody who could be a rising star but might not have those skills – how can you provide internal programs rather than having to look externally, where it might be a bit of a challenge to find that talent in the marketplace?”
Upskilling and perks
Benefits renewal upskilling investment are the levers Gibson’s own organization is leaning on hardest right now, particularly as AI reshapes which skills matter, he says. “Upskilling is huge, and being able to provide those skills internally,” he says. “A lot of companies say they do that, but I think, at the end of the day, they don’t really put their money where their mouth is.”
For Singh, a tighter labour market means it’s important to have the right HR programs, coaching, and growth opportunities for people who want to grow, plus having compensation and benefit platforms where people aren’t constantly looking for the next thing because cost of living is high.
