Canada’s workforce is shrinking as labour shortages take hold and baby boomers reach retirement.
This seismic shift in the workplace isn’t just a human resources headache. It’s a profound change that must be managed carefully if companies are to survive long-term.
The board’s role in recruitment
The looming recruitment crisis can’t be solved by HR departments alone. Dwindling staff is a threat to an organization’s profitability and longevity, making it a company-wide issue that needs engagement at the executive level.
Employment strategies should be factored into board operations as part of their wider risk management portfolio. Board members can help shape and drive recruitment policies with a top-down approach that aligns governance goals with hiring and retention objectives.
Forward thinking and current planning
Recruitment challenges are here to stay. Companies should be preparing now for the inevitable day when senior staff announce their retirement. Each generation has to give way to the new, but that doesn’t mean you can’t be ready for them.
