Several experts over the past few years have identified critical skilled worker shortages in Canada, especially in the tech industry, resulting in severe consequences for the economy. According to a survey by the Business Development Bank of Canada, 53 per cent of small-and medium-sized businesses (SMBs) say the labour shortage will cause them to limit business investment.
A 2018 report from Deloitte projected a 7-per-cent annual increase in demand for cybersecurity talent across the country, with organizations needing to fill about 3,600 cybersecurity positions between now and 2021. Globally, the consulting firm projects a 1.8 million-person shortage in cybersecurity professionals by 2022.
More broadly, there are great demands for tech talent across Canada that aren’t being met. What makes things worse is that talent that does exist end up in large cities and companies, leaving SMBs in the dust. To get the tech talent they need, US companies are hiring top talent from Canada or opening up offices there as well. According to an Envoy study, 63% of large US companies are increasing their presence in Canada due to more favourable immigration policies.
Thankfully, Canada has and continues to be very immigrant-friendly. Last year the Minister of Immigration, Refugees and Citizenship announced that Canada would increase the number of immigrants it accepts each year by 40,000, to a total 350,000 by 2021.
The Express Entry program is one of a few strong solutions to the ongoing tech talent shortage. This permanent residence application targets skilled workers and can be done completely online, and because of how streamlined it is, candidates who meet all the requirements can complete it in as little as 4 – 6 months!