As many of our fellow Canadians begin to retire and enjoy their golden years – which they deserve for building the greatest nation in the world – the next generation of Canadians will have very big shoes to fill. Building a country is very difficult, but sustaining this momentum will be more difficult with the current and projected trends in population decline.
We, as a nation, have a major crisis brewing in our system as the future leaders of tomorrow are sitting idle and not gaining the required experience to begin the succession planning required for our private and public organizations. We need to make an impact on this problem today and the federal and provincial governments must step up to the plate to help create incentive programs for employment for new graduates.
A simple idea that would encourage employers to hire new graduates is an incentive to gain a tax credit of $5,000 per employee per year. The limit would be a maximum of 15 employees for the life of the program for a small company and 30 employees for large company.
So let’s do the quick math, 100,000 new graduates * $5,000 = $50,000,000 program that will generate the benefit to our national productively issues and provide an opportunity for employers to train and prepare the next generation of our workforce.
That simple idea could also be created for new immigrants and international students. An incentive to hire international talent will help companies understand the positive impact of diversity and deal with the potential supply shortage that we will see going forward.
This is not about taking away jobs from Canadians. It is about starting a plan to train, nurture and create an overall capacity of qualified workers, whether they are youth or new immigrants. Without this capacity of workers, the jobs could be outsourced to other parts of the world and in turn, hurt the overall economic development that we need.
The impact of such a program once awareness is created with universities, employers and immigration consultants, will increase the attraction of new applications to our universities and potentially higher migration rates to our nation. The total benefit to all Canadians will outweigh the initial costs going forward.
Saeed El-Darahali is the president and CEO of SimplyCast, a leading provider of self-service multi-channel marketing services empowering small businesses to create, manage and track their own online and offline marketing campaigns.
SimplyCast was recently featured in the article Businessman: Place trust in new hires.