Immigration strategies – Retaining Your Competitive Advantage. Now is the time to Focus on Work Permits and Permanent Residence Applications
In light of the ongoing pandemic the retention of employees has become paramount for Canadian employers as they are challenged to mitigate costs while maintaining their competitive advantage.
Retention efforts stave off avoidable recruitment costs while avoiding operational disruption. That said, there is one subset of the employee population that is particularly vulnerable during the pandemic, and this article aims to highlight why the time is now for Canadian employers to pay particular attention to their Temporary Foreign Workers.
The Talent Tap is Currently Shut
Currently Border and Visa Application Centre (VAC) closures have restricted who can immigrate to Canada. This has shrunk the talent pool for companies requiring specialized talent that is rare within Canada. If you don’t make efforts to retain your talent they could be poached by other desperate competitors or even across industries.
Government programs focus on immigration for individuals with sought after skills that are not readily available within Canada. As such, it becomes even more critical to retain these individuals who often have hard-to-find skills or hold pivotal roles driving competitive advantage. Failure to retain these individuals can jeopardize major projects and finding a local replacement may not be possible.
We all know direct and indirect costs of recruitment can be high. Finding significant savings realized through retention related activities is key, especially now. For temporary foreign workers, sponsoring work permits or permanent residence applications is an excellent option to retain these individuals through intrinsic engagement.
Becoming an Employer of Choice
Sponsoring or supporting an individual’s PR application during the pandemic offers security in an insecure time. Not only will this help diminish the risk ‘poaching’ by competitors, it will help build the companies reputations as an employer of choice. This could lead to interest from other TFWs currently working for other companies both within Canada and abroad.
Attracting, retaining and developing international talent adds thought diversity to your business. For more information on How to hire and immigrate new talent. How to retain the international talent you currently have, and how to develop your existing talent, connect with BLANKSLATE Partners. Our team of certified experts will help you build a better, stronger workplace!