More than half (55%) of Canadian employees aged 18 to 34 would like to change jobs, start a business or return to school this year, compared to 30% of all age groups, according to a new survey.
The ADP Canada Sentiment Survey also found that 25% are seeking a pay rise, while 12% are seeking a promotion. But are these goals realistic in the current economic climate?
“Despite the downturn in the energy sector, Canada’s job market remains competitive and some skills are in extremely high demand,” said Virginia Brailey, vice president of marketing and strategy at ADP Canada.
“The solid numbers of workers who are planning to return to school or start their own business (both of which index higher in Alberta) suggests that many are dealing with a challenging local job market by doing their own thing or seeking to build skills and ride out the downturn in school.
“When we do have slower growth, the top performers become even more valuable, both to their current employers and to competing companies. The challenge here is to know who those people are and to be very proactive about engaging and retaining them.”
Read: How to keep your star employees
Some options for engaging and retaining staff include the provision of flexible working opportunities, as well as training and development.
The survey found that some 15% of respondents would like to have more flexible work hours, while 8% would like to work remotely and 3% would like unpaid time off.
In terms of training and development opportunities, 18% said they would like to learn a new work-related skill, while 15% said they’d like to get more training, and 11% said the would like to get a certificate, degree or diploma.
At any time, organizations need to be locking in their top talent,” said Brailey. “Arguably, in tougher economic times, they should be even more focused on hanging onto the key people who will get them through the downturn and set them up for success when things improve.
“Compensation is one way to keep top talent, but as the survey shows, so too are offering opportunities to advance, to take on more responsibility and to build skills. As well, during tough times, key talent becomes more available as competitors downsize, so offering a good compensation package, along with great benefits, rewards and recognition programs, good work-life balance and a great culture are all ways organizations can grab those top people and hang onto them in the long term.”