A new BMO Bank of Montreal survey conducted among 500 companies across the country has revealed that professional training of employees is a priority for a large majority of Canadian employers. The good news is that the federal government has made provision in its 2013 budget to help them!
60% of small businesses believe that recently hired employees need basic training (38%) or subsequent training and advice (22%). However, this need to train new employees is felt much more within large organizations. In fact, 74% of them believe that their new recruits require basic (47%) or substantial (27%) training.
The needs for training are greatest in the fields of retail trade and construction, unlike those of agriculture and finance. Finally, with regards to regional trends, companies in the Atlantic Provinces (66%), British Columbia (67%), Quebec (65%) and Alberta (63%) showed more urgent training needs than in other provinces.
Boost from the federal government
Faced with these figures, Steve Murphy, Senior Vice President of Corporate Banking at BMO Bank of Montreal said that the level of employee talent and expertise is the basis of business success and constitutes a real competitive advantage. Priority to training and development of their employees must therefore continue to be given.
In addition, the federal government has recently announced that the Canada Job Grant in the 2013 Federal Budget could provide up to $15,000 per employee for training. The goal is to enable Canadian employees to acquire the skills needed by employers. In this context the results of the survey conducted by BMO Bank of Montreal have been publicized.
According to Steve Murphy, the initiative addresses a major challenge in terms of employment and economy and comes just at the right time for job applicants and employers. According to him, the 2013 budget measures should have positive repercussions on the energy and stability of the Canadian workforce.