Shelter Costs Fuelling Inflation | Canada’s new payroll system for employees | Canada’s Labour Market| Recommendations and more!

It's time to read about the latest insights, trends, and news. In this edition, we will delve into Canadian news on immigration, work and HR!

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Strengthening Francophone Communities: Canada's Commitment to French-speaking Skilled Newcomers

Canada intensifies efforts to welcome skilled French-speaking newcomers to bolster national identity and address labour needs. Minister Marc Miller announced the commencement of 2024 Express Entry rounds, targeting candidates for permanent residence with category-specific work experience or strong French proficiency.

Express Entry's category-based selection expands opportunities for in-demand professionals across Canada, fuelling economic and social prosperity. Ambitious targets set by IRCC aim for Francophone immigrants to represent 6%, 7%, and 8% of total immigration in 2024, 2025, and 2026, respectively.

January 2024 introduced the Policy on Francophone Immigration and its Implementation Plan, focusing on innovative actions to support Francophone communities. Emphasizing French language proficiency in Express Entry underscores Canada's commitment to its economic vitality.

Minister Miller underscores the pivotal role of Francophone immigration in fortifying national identity and addressing labour shortages. Express Entry aligns with labour market needs, ensuring skilled newcomers contribute to local economies and communities.

Categories in Express Entry are guided by labour market insights and consultations, ensuring relevance and effectiveness. From 2018 to 2023, the Federal Skilled Worker Program and Canadian Experience class contributed 39% of French-speaking immigrant admissions outside Quebec, vital for labour force growth.

Canada's immigration initiatives are integral to addressing labour shortages and fostering Francophone community resilience, affirming its commitment to diversity and economic growth.

Shelter Costs Fuelling Inflation Surge: Economists Warn of Persistent Pressure

Shelter costs, which encompass mortgage interest and rent, emerge as a formidable force propelling inflation, economists caution. The Bank of Canada acknowledges the enduring challenge of shelter price inflation, anticipating it to exert sustained upward pressure on overall inflation, projecting an average contribution of 1.8 percentage points throughout the year. Desjardins economist Randall Bartlett underscores that rising mortgage interest costs, setting record inflation rates at 30 percent year-over-year in 2023's latter half, will persist into 2024 as mortgages renew at higher rates.

Echoing this sentiment, RBC economist Rachel Battaglia highlights a sharp uptick in rents, with two-bedroom apartment rents soaring by 8 percent in the 12 months to October 2023—exceeding both inflation and wage growth rates. This surge marks the fastest pace since 1990, more than doubling the pre-pandemic average rate. Amidst record population growth and sluggish home construction, the national rental vacancy rate plummeted to a historic low of 1.5 percent in 2023, a trend predicted to worsen by National Bank economists who foresee it dipping below 1 percent by 2025.

The persistent inflationary pressure on shelter costs poses a significant challenge for Canadian households, particularly the 37 percent that comprise the renter population. With housing investment failing to keep pace with population growth, the housing market's imbalance exacerbates the situation, exacerbating affordability concerns. Despite the challenging landscape, economists like Bartlett anticipate other inflation drivers to temper shelter inflation's impact, striving for a balance that could stabilize inflation around 2 percent by the end of 2024.

Advancements in Canada's Exploration of a New Human Resources and Pay System

Despite seven years passing since the Phoenix pay system debacle, issues persist, asserts The Public Service Alliance of Canada (PSAC). PSAC's national president, Chris Aylward, highlights that errors in pay processing have been rampant since Phoenix's 2016 launch.

Efforts to rectify pay issues persist alongside initiatives to modernize HR and pay experiences for government employees. Honourable Jean-Yves Duclos, Minister of Public Services and Procurement, and the Honourable Anita Anand, President of the Treasury Board, provide an update on Canada's pursuit of an integrated HR and pay system, signalling progress but acknowledging challenges.

Public Services and Procurement Canada (PSPC) has been testing Dayforce, offered by Dayforce, Inc., as a potential solution since 2022. Testing reveals Dayforce's technical viability, yet significant process improvements are essential for its successful implementation.

The Final Findings Report, released February 1st, outlines testing results, marking a step forward in system development. The government plans to expand testing, tailor the system to its requirements, and simplify HR procedures.

Concurrently, efforts to stabilize current pay operations continue, with 450 compensation agents hired and the exploration of AI to expedite transactions. Minister Duclos emphasizes the necessity of accurate and timely pay for public servants, underlining ongoing efforts to bridge current gaps while transitioning to a modernized system.

The existing pay system manages bi-weekly payments for approximately 420,000 employees, totalling $36 billion across 13.1 million transactions in 2023. The complexity of Canada's HR and pay landscape, compounded by nearly 150 collective agreements across 100 departments and agencies, underscores the need for a robust, efficient solution.

Dayforce offers a commercial off-the-shelf HR and pay solution, aligning with Canada's quest for a modernized, effective system. As the government navigates challenges, Minister Duclos envisions a digital future where services are seamlessly delivered, ensuring public servants receive their due compensation accurately and punctually.

Navigating Canada's Labour Market: Insights and Trends for 2024

Despite ongoing economic uncertainties, the search for skilled talent remains strong in Canada, offering hope for professionals seeking new career horizons. A recent study by Robert Half, a leading talent solutions firm, reveals that 42 percent of workers have initiated or plan to embark on a job hunt in the first half of 2024, showcasing a marginal uptick from July 2023's figures but a decline from December 2022's 50 percent surge.

Breaking down the demographics, the research underscores that Gen Z and the marketing and creative sectors exhibit the highest propensity for job exploration, with 67 percent actively seeking new opportunities, closely followed by Millennials at 57 percent and HR professionals at 72 percent.

When delving into the motivators propelling individuals to seek greener pastures, salary emerges as the predominant factor, with 47 percent of respondents citing it as a primary driver. This sentiment is echoed by David King, Senior Managing Director at Robert Half, who notes that while some businesses exercise caution in hiring, attracting skilled talent necessitates competitive remuneration, advancement prospects, and enticing perks.

Despite the allure of new prospects, a notable portion of the workforce remains rooted in their current roles, citing reasons such as flexibility, job satisfaction, and adequate compensation as compelling factors for staying put. This trend signals a shift from the previous pandemic-induced churn, with many individuals opting for stability and familiar terrain amidst ongoing economic flux.

On the employer front, the report unveils a surging demand for skilled professionals, notably to support organizational growth initiatives. However, the recruitment landscape presents its own challenges, with hiring managers grappling with prolonged hiring timelines and heightened competition for top talent.

As Canada's labour market navigates through evolving dynamics, the findings underscore the imperative for employers and job seekers to adapt to the changing landscape, ensuring alignment between organizational needs and individual aspirations in pursuing sustainable workforce strategies.

Atlas of the Heart: Mapping Meaningful Connection and the Language of Human Experience - Brené Brown

In the fast-paced and dynamic world of HR leadership, Dr. Brené Brown's "Atlas of the Heart" stands out as an invaluable resource for professionals seeking to foster meaningful connections and navigate the intricate landscapes of human emotions.

Published in November 2021, this 301-page book by Dr. Brown, a distinguished research professor at the University of Houston, goes beyond traditional self-help literature. Dr. Brown, known for her TED talk "The Power of Vulnerability," draws on two decades of extensive research into the human experience. In this book, she skilfully explores eighty-seven emotions, providing readers with a profound understanding of what it truly means to be human.

For HR leaders tasked with cultivating inclusive and supportive workplaces, "Atlas of the Heart" offers a unique perspective on emotional intelligence and connection. Dr. Brown not only maps out the necessary skills for fostering meaningful relationships but also provides an actionable framework that empowers professionals to navigate a universe of new choices and second chances.

The book's relevance to HR professionals is further highlighted by its emphasis on the power of understanding, meaning, and choice. Dr. Brown's storytelling prowess and research-driven insights equip leaders with the tools to create environments where employees can share their bravest and most vulnerable moments, fostering a culture of connection and resilience.

As relocation becomes an increasingly prevalent aspect of professional life, Dr. Brown's words resonate deeply: "I want this book to be an atlas for all of us, because I believe that, with an adventurous heart and the right maps, we can travel anywhere and never fear losing ourselves." In the ever-evolving landscape of HR, "Atlas of the Heart" is not just a book; it's a compass guiding leaders toward a workplace that values authenticity, understanding, and genuine connection.

The Rudner Law Podcast

If you're seeking a comprehensive resource on Canadian Employment and HR Law, look no further than "The Rudner Law Podcast." With over 100 episodes and six years of insightful content, this podcast, produced by LegalTube.ca in association with LawyerLocate.ca, offers a wealth of knowledge.

Hosted by Stuart Rudner, an employment lawyer based in Markham, Ontario, the podcast is a go-to for both employers and employees aiming to navigate and enforce their rights effectively. Mr. Rudner's credentials speak volumes—he has been selected by his peers for inclusion in 'The Best Lawyers in Canada' in Employment Law for four consecutive years.

What sets this podcast apart is its commitment to addressing a wide array of topics. Whether flying solo or accompanied by expert guests, Mr. Rudner delves into crucial subjects such as mediation and arbitration for resolving employment disputes, unconscious bias, and much more. His ability to distill complex legal concepts into accessible, engaging discussions makes the content both informative and enjoyable.

For anyone in the Canadian employment landscape, "The Rudner Law Podcast" is an indispensable resource. Stuart Rudner's expertise, combined with the podcast's extensive episode catalogue, makes it a valuable tool for staying informed on the latest developments in Employment and HR Law. Tune in to gain actionable insights and enhance your understanding of this dynamic legal landscape.

All Points Home Marketing Assistance

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