A majority of hiring decision-makers are currently worried about the economy, and 56% wish their company was doing more in response to the unstable situation. Only 29% of Canadian hiring decision-makers expect their company’s revenue to increase this year, while 43% anticipate it will decrease, and 24% expect it to remain the same.
Half of Canadian hiring decision-makers (50%) believe the country has already entered into a recession. Nearly 2 in 5 (39%) says Canada will enter a recession within the next year.
Notably, 79% of those who believe Canada will enter a recession say their company is planning to make changes when the recession occurs and 69% of those who believe Canada is already in a recession say their company is in the process of making changes as a result of the recession.
The survey was conducted online within Canada by the Harris Poll on behal;f of Express Employment Professionals between April 21 and May 6, 2020 among 501 Canadian hiring decision-makers (defined as adults aged 18+ in Canada who are employed full-time or self-employed or have been laid off, furloughed, or given a zero hour schedule in the past 60 days but worked full-time or were self-employed full-time prior, work at companies with more than 1 employee, and have full/significant involvement in hiring decisions at their company)
Express CEO Bill Stoller says businesses should continue to be flexible to meet current product and service demands.