Labour shortage gives workers a chance to trade up in jobs world
With Alberta's job vacancy rate reaching as high as five per cent by June, some people are using the labour shortage as an opportunity to find a job that better fits their life and future goals.
About three months ago, Joel Kenworthy was looking for a change in career paths after he had overcome being laid off during the pandemic, then having to relocate to Vancouver for his job in construction. He was drawn to finding employment in the technology industry earlier this year because it felt like a fresh start and allowed him to return to Calgary.
“Obviously, when you have enough negative experiences with previous industries or previous work, it makes it a bit less enticing to stay within that industry,” said Kenworthy, who now works as the merchant experience specialist at Helcim.
Through networking, Kenworthy found many of his skills were transferable to the tech industry and ended up landing a job that he's been enjoying. He's found better workplace culture and worklife balance in his new job.
“Ultimately, people who are looking to make the transition to a better job for them have the ability to find a good fit, instead of just apply, apply, apply to everything and hope someone picks you up,” he said.
Over all industries, Alberta had a job vacancy rate of 5.3 per cent for the second quarter of 2022.
Alberta's construction industry has been hit hard by labour shortages, with the industry reporting a job vacancy rate of 7.4 per cent by the second quarter of 2022. This is up from four per cent a year before and 2.3 per cent at the end of 2019, before the pandemic spread to Alberta.
Jason Gillespie, the president of Pathfinder Recruitment Group which specifically focuses on recruitment in the construction and architecture industry, said there are lots of jobs but a lack of people.
“I've definitely noticed, at least in the last six to 10 months, companies are doing everything to entice workers, whether it's junior positions or right up to senior management. They're doing a more incentive-based approach,” he said.
“I've seen companies that have increased their salary margins to accommodate more expensive salaries.”
He said there are a number of reasons for the labour shortage that he's seen, including those who have left the industry after layoffs due to the pandemic and mandatory vaccine policies within some companies.
“In the 17 years I've been doing this, we haven't seen this many people leaving the industry altogether as we have in the last year or so — for whatever reasons,” Gillespie said. “Some of them wanted a change of pace ... They wanted to get into something more sustainable, something that fits their lifestyle better or just wanted a change ... It's a perfect storm for everybody to either stay or leave or ask for more money or take a higher position,” said Gillespie.
Cameron Mcdonald, client partner at Pekarsky & Co. who works in the retained executive search space, said it is a candidate market with plenty of opportunities across industries and functions.
In the retained executive search, Mcdonald said it is always competitive because it seeks specific candidates for leadership.
“The top 10 per cent of the market is still the top 10 per cent,” he said.
Since there are more opportunities for workers out there, it's become more important for employers to be strategic in how they approach the leadership candidates, Mcdonald explained. This could mean offering a better work-life balance, hybrid working models and compensation.
“What we're seeing is employers who are not offering a degree of workplace flexibility, competitive market compensation, as well as a compelling company value, are struggling to attract that talent,” he noted.
He said people should still be swapping jobs for the right reasons, like challenge, the opportunity for career progression or professional development and the company's values, rather than just higher compensation.