But many also implementing hiring freezes amid economic uncertainty
A majority of Canadian CEOs are expecting staffing levels to rise in the next three years, according to a new report.
The 2022 KPMG CEO Outlook report found that 89% of CEOs anticipate a headcount increase — with some expecting up to a 25% increase.
This comes despite the fact that 84% of leaders are implementing hiring freezes over the next six months, in response to economic uncertainty across the world.
Maybe that’s because almost two-thirds (61%) believe that retaining employees amid ongoing inflationary pressure and a rising cost of living will affect their organisation in the next three years.
Benefits to EVP
According to the report, 52% of CEOs believe that continuing the development of an employee value proposition (EVP) will have a positive impact on their organization over the next three years.
EVP is the unique set of benefits that employees receive in exchange for their contribution to the organization. It is one way for employers to lure in talent, and neglecting it could not end well for employers, according to KPMG.
"To put EVP on the back burner or lose focus on equity, diversity, and inclusion increases the risk of losing key people and institutional knowledge at a time when organizations need them most.”
Latest News
Not fostering a welcoming workplace also risks the company's reputation and cybersecurity from disgruntled employees, says the firm.
"Talent priorities won't go away with the recession. And if workplace inclusion, diversity and equity are not part of those priorities, then companies open themselves up to losing people they need now and into the future," says Silvia Gonzalez-Zamora, partner at KPMG in Canada.
Response to hybrid work
The 2022 KPMG CEO Outlook report also found that Canadian CEOs are more positive regarding remote work compared to their global counterparts.
Two-thirds (65%) of Canadian leaders believe that hybrid/remote work has a positive impact on productivity. They also believe that it has a positive effect on employee retention (56%) and employee morale (56%).
Despite this, 75% of Canadian CEOs are still expecting employees to return to the workplace full time within three years.
But employers should involve employees in the decision to go back in the office, according to Catherine Bergeron, health and safety lead at Peninsula, stressing that it will make them feel "valued, comfortable, and empowered."