Many Canadian businesses in the coming years will encounter a labour shortage. With low birth rates and baby boomers beginning to retire at an alarming rate in the next several years, filling new vacancies will be difficult. It is estimated that in the next ten years, one out of three new positions will have to be filled by new immigrants.
The bottom line is that if there are not enough qualified workers to fill vacant positions, then ultimately productivity and profits will begin to suffer! This will make it even more difficult for many Canadian businesses to compete in the global business market.
A recent report by released by BC Labour Market Outlook states that the number of skilled immigrants coming to British Columbia happens to be the lowest in 15 years. Such statistics are probably similar in the rest of Canada. It seems immigration is vital not only for filling new vacancies but also keeping Canada’s economy afloat. When new immigrants come into the country, they all face similar challenges. Besides language barriers, they also lack Canadian work experiences, but worse is that their credentials are not recognized. Many skilled immigrants come from war torn countries, which makes it even more challenging to have their credentials verified.
It seems many companies probably are not aware of this dire strait situation looming in the near future because they look at the large number of applicants that currently apply for an advertised position. This scenario will change in the coming years as fewer qualified applicants apply for positions.
All levels of governments plus the business sector need to pay greater attention to this troubling dilemma, and try to rectify the situation. The number of skilled immigrants coming into the country needs to increase. In addition better methods need to be put in place in order to have their credentials recognized more effectively and efficiently.