Millennials are more confident than older workers about job stability versus one year ago
Toronto, May 17, 2016 - The latest ADP Canada Sentiment Survey reveals that a large majority of working Canadians (86 per cent) are as confident, or even more confident in the stability of their jobs versus the way they felt a year ago. Employers can use this opportunity to strengthen their relationship with employees, reduce turnover and build their employer brand.
“Confident employees are more focused and generally more engaged, which means they are comfortable with taking risks and innovating. This can lead to better performance and productivity,” explains Virginia Brailey, Vice President of Marketing and Strategy at ADP Canada. “A confident workforce is a key ingredient in building a strong employer brand.”
Highlights of the ADP Canada Sentiment Survey:
Job Stability Confidence
- Millennials (ages 18 – 34) are optimistic about the stability of their jobs with almost half (46 per cent) saying they are more confident in the stability of their jobs than they were one year ago.
- A smaller percentage of older workers, particularly those ages 55-64 (24 per cent), are more confident than a year ago, though most report they feel about the same as last year (57 per cent of workers 35 and older).
- Almost half (47 per cent) of Atlantic Canadians are more confident in the stability of their jobs than they were one year ago.
- One quarter (25 per cent) of Albertans are less confident in the stability of their jobs than they were one year ago.
Keeping Confidence High
“Human Resources departments are being tasked with creating the programs and structures that support a strong employer brand,” Brailey explains. “By investing in programs that build culture, leadership and employee opportunity, HR teams set their organizations up for long-term success. These investments make it easier to attract and retain top talent, even when workforce confidence falters,” she added.
Brailey points out, however, that many HR departments are stretched very thin, particularly in rapidly growing organizations. “It’s important that HR teams have the time to connect to the workforce so they can create these programs,” she added.
Employer brand-building ideas for organizations:
- Invest in employee development: Creating long-term opportunities for employees aids in retention and builds your brand in the labour market. Opportunity-building can include formal training programs and informal assignments that build new skills.
- Work on the culture: A great culture can be a competitive advantage in attracting and keeping top talent, especially for smaller organizations. Flexible work hours, formal and informal recognition programs, community involvement, and perks such as fitness programs can help build a unique culture that can super-charge performance.
- Build great leaders: It is an old saying in HR that people don’t quit companies, they quit bosses. Strong leaders are a key part of your employer brand. Your HR team should be working to identify future leaders and building programs to develop their skills so they’re ready to step up when the organization requires it. Current leaders also need to be supported and coached to ensure they have the skills to pull the organization forward.
Maintaining high levels of employee confidence is a critical component of strategic planning for talent acquisition and retention. HR teams are increasingly shifting their focus from administrative tasks to strategic work, such as employer branding. ADP Canada offers a full suite of services that help HR leaders work more strategically.
The New Standard in People Management
ADP Canada recently introduced ADP Workforce Now® Comprehensive Services, the first HR shared service of its kind in Canada. By combining HR expertise and proven technology, the service supports rapidly growing organizations with world-class HR capabilities, without the overhead. Key benefits include:
- Streamlined HR administration, backed by integrated technology, proven to save hundreds of hours per year*
- On-demand access to experts in wellness, compliance, payroll, recruiting and other key disciplines
- A designated relationship manager
- Best-in-class recruiting, talent management, employee assistance programs and other key engagement tools with an ROI of more 150 per cent*
- Reduced turnover by as much as 20 per cent over three years*
A survey of 862 employed Canadians was completed online between March 14th and March 17th 2016 using Leger’s online panel, LegerWeb. A probability sample of the same size would yield a margin of error of +/-3.3%, 19 times out of 20.
About ADP Canada
ADP Canada gives organizations of every size the tools to help their people thrive. From basic payroll to complex people management systems and analytics, we help business leaders make better decisions. Our clients trust ADP to provide strategic insights and on-demand expertise to build and inspire the workforce they need. Visit us at adp.ca or follow us on Twitter @ADP_CDA.
Powerful technology plus a human touch. Companies of all types and sizes around the world rely on ADP's cloud software and expert insights to help unlock the potential of their people. HR. Talent. Benefits. Payroll. Compliance. Working together to build a better workforce. For more information, visit ADP.com.
*Source: Read a commissioned study by Forrester Consulting, The Total Economic Impact of ADP Workforce Now Comprehensive Services.