Knight said Canadian employers are learning to hold onto the best people, even in tough economic times, meaning Canada's job market still favours skilled job seekers.
“It’s a very challenging time because the name of the game is talent retention—that’s certainly quite apparent to the best and smartest employers,” Knight told Forbes. "Employers are recognizing as they set out to hire that if they want the best people, those people, despite the general condition of the economy, have options."
Knight said companies can be creative with security and benefits to help them retain their key talent in a vulnerable economy and attract candidates once hiring picks up again, like some in Canada's oil industry are now doing.
"If you look, for example, at Alberta, which is oil central in the Canadian economy, they’re cutting jobs left and right. And yet, there are some employers who are not just following a conventional cutting routine as the way to deal with the recession in their industry. What they're doing is applying some more flexible approaches."
-Associate Professor Tom Knight in Forbes Magazine
Knight is an associate professor of organizational behaviour and human resources at the UBC Sauder School of Business.