Significant staff shortages impact the bottom line
Hiring intentions and labour shortages research
Edmonton, AB — In a recent survey conducted by the Alberta Chambers of Commerce (ACC) network, employers are feeling a slight reprieve from hiring shortages, but still not enough.
The research was conducted through the Alberta Perspectives program to better understand the experiences and expectations of Alberta businesses regarding their hiring needs over the next year. Data was collected from self-identified employers throughout Alberta, between June 14th to July 3rd.
Similar to last year, a majority of businesses are still facing hiring challenges, with sixty percent citing a significant to moderate shortage. The thin silver lining is a shift towards shortages that are moderate when compared to December of 2022.
“We're seeing a lack of applicants as the number one barrier for business,” says Shauna Feth, President and CEO of the Alberta Chambers of Commerce. "This applies to both attracting workers within Alberta and attracting talent from outside of the province."
The impact of staffing shortages on production and sales opportunities remains high with two thirds of employers continuing to say there has been a significant or moderate impact. Compounded with higher compensation or offering skills training as popular incentives to attract workers, it's clear to see why these shortages are impacting the bottom line for business.
"We continue to hear how exorbitant electricity costs, hidden taxes and supply chain issues are resulting in business having to cut back on spending, and this unfortunately impacts hiring the staff they need for their business. The initiatives that attract new hires are simply out of reach for many employers."
“With the ongoing research via Alberta Perspectives, the ACC has been engaged for several years with business and government to find solutions to hiring challenges,” says Ms. Feth. “A workforce strategy takes time to develop, but thanks to business leaders who have taken the time to share their insights, we are informing solutions.”