CEO Marc Pavlopolous recently moderated and spoke at Canadian startup incubator OneEleven discussing the complex landscape of attracting and retaining tech talent within Canada’s current job market. A panel of industry experts shared valuable insights, including Christian Harris, founder of hireVouch, an ethical tech recruitment agency with a focus on referral-based networking and John Murdoch, VP platform at Canvass AI, a platform specifically for the Industrial sector.

We wanted to share a summary of the information and perspectives shared during the panel.

Let’s jump in.

Market Insights

Understanding what today’s talent is looking for in a job and company can provide valuable direction to a business’s hiring strategies. Here are some of the trends that were discussed about the current market ecosystem.

• Layoffs across various sectors, especially tech, means there has been an understandable emphasis on job stability and opportunities for long-term growth among professionals. They’re also looking for companies that value their well-being and prioritize and foster good company culture. 
• The recent trend towards remote working has resulted in an ongoing debate between in-person and hybrid work models. The reality is that while some employees appreciate the social aspect of a physical workspace, others value the flexibility that comes with a hybrid model. 
• Different generational cohorts, namely Millennials, Gen Z, and Gen X, all have distinct preferences and expectations from their workplaces. Recognizing and accommodating these differences can lead to a more harmonious and productive work environment.
• Diversity, Equity, and Inclusion (DEI) is a sensitive topic that needs careful consideration. It’s generally best to focus on the shared values of respect and equal opportunity, demonstrating a commitment to creating an inclusive workspace where everyone’s voice is heard and valued.

Separately, it’s very apparent that, in today’s recruitment market, how a company presents itself to potential candidates, engages with them during the recruitment process, and ensures their satisfaction and growth after hiring are integral components in securing and retaining top talent.

Tech talent engagement: social media, flexibility and fair PTO.

Creative hiring strategies are essential in today’s job market. Traditional recruitment methods, such as job posting sites and job fairs, are important, but they’re only a piece of the puzzle to truly engage potential candidates.

Thus, in 2023 and beyond, social media can be an influential tool in this regard. A company that successfully establishes a strong online presence not only widens its reach but also engages with potential candidates in a more interactive and personal way. It’s also a way to portray the company culture and values, subsequently attracting talent that aligns with them.

It’s worth noting that candidates today consider more than just the compensation package when choosing an employer. Factors such as hybrid work culture, flexibility, and meaningful work play crucial roles in a candidate’s decision-making process. Hybrid and flexible work models offer employees the choice of where and how they work, enhancing their work-life balance. Meaningful work, on the other hand, ensures that employees feel their contributions are significant and impactful, leading to increased engagement and job satisfaction

Contrary to some trends, unlimited PTO (Paid Time Off) seems to have lost its appeal, as it was seen more as a passing fad. Similarly, according to our panelists, Canadian candidates don’t seem as intrigued by company stock options, a perk that is considerably more popular among US candidates. Instead, Canadian tech professionals prefer financial compensation, either through a higher base salary or performance-based bonuses. The latter rewards employees for their contributions to the company’s success, adding an extra layer of motivation and recognition.

Tech talent retention: work-life balance, mentorship and internal branding.

Retention extends beyond just acquiring the right talent, it’s equally crucial to keep employees engaged and committed. There are several key areas employers can focus on to ensure they retain their talented workers in a competitive market.

We talk a lot about work-life balance but what does it mean in reality? In the current work environment, employees appreciate employers who respect their personal time and space. Maintaining a healthy equilibrium between professional responsibilities and personal life is not only a sign of a positive work culture, but it also dramatically influences an employee’s longevity in a company.

This also means following through with promises made when attracting those employees initially — such as flexible hours — particularly during personal situations and crises. Companies that demonstrate understanding and empathy during these moments stand out as desirable workplaces and tend to have a higher retention rate.

Another important facet is empowering employees to evolve both professionally and personally within their roles. This might include offering training programs, facilitating knowledge-sharing sessions, or providing mentorship opportunities. These growth opportunities can create a sense of belonging and purpose among employees, making them feel valued and motivated.

Finally, companies must focus on cultivating their own unique brands. A strong, positive brand image can transform a company into a place employees take pride in working for. They would not only want to stay but might also encourage their friends to join

Tech talent attraction: international hiring and Canada’s Global Talent Stream

While layoffs in various sectors might suggest an abundance of available talent, the reality on the ground in Canada paints a different picture. Scarcity remains an issue, especially when it comes to highly skilled tech talent as many of these sought-after individuals have not faced layoffs. Canadian companies more often than not exhaust their local candidate pool, finding it challenging to fill positions that require particular expertise or high skill levels. 

Looking internationally, be it from the US or other regions globally, has become a necessary strategy. Such candidates, often with diverse experiences and unique skill sets, can bring refreshing perspectives and innovation to Canadian tech companies.

Canadian immigration policy, in particular, the Global Talent Stream (GTS), offers a favorable environment for this kind of recruitment. The GTS is a streamlined immigration pathway specifically designed to help Canadian businesses attract global talent. This fast and efficient program allows highly skilled professionals, including tech workers, to live and work in Canada and unlike other countries — such as the H-1B visa process in the US — employees can gain authorization to work in a matter of weeks.

After qualifying for the GTS, it’s possible to become eligible for Canadian permanent residence within one to two years, and citizenship in five making it a highly attractive option for foreign tech workers looking for stability.

Syndesus provides both EOR and PEO services in Canada

Syndesus helps companies hire tech workers remotely in Canada. With both PEO and EOR services, including immigration, benefits, HR, and payroll, your administrative processes are taken care of while you focus on expanding your workforce and moving your company forward. 

Alternatively, if you’re keen on working directly with a Canadian employer, or if you’re a Canadian company in need of tech pros, then our tech recruitment platform, Path2Canada, can help. We have an expansive database of thousands of seasoned mid- and senior-level tech professionals eager to relocate and contribute to Canada’s tech scene.

Foreign-born tech workers can also explore Canadian jobs and connect with Canadian tech companies willing to sponsor a work visa via our tech recruiting marketplace.  Reach out to us to learn more.