There are close to 300, 000 unfilled jobs in the Canadian private sector, with manufacturing being among the industries with the highest vacancies according to findings from the Canadian Federation of Independent Business (CFIB). Unfilled jobs represent missed opportunities for business growth and economic development.
Companies under 20 employees experience the highest vacancies levels due to the structure of the business. A vacant position with a smaller firm reduces productivity far more significantly than for a larger firm. Recent changes to Temporary Foreign Workers program, which made it more difficult and expensive for companies to bring in foreign labour, have contributed to unfilled jobs with small to medium sized companies.
One way Canadian SMEs can combat this is through government funding programs such as the Graduate Enterprise Internship (GEI) Program. GEI/iSTEM is designed to connect recent university and high-level college graduates in the fields of Science, Technology, Engineering and Math with employment opportunities. Eligible interns must have graduated with a university degree or advanced college degree in the last 5 years. Eligible companies could receive up to $10,000 for the hiring of an undergraduate or college student, and up to $15,000 for the hiring of a graduate student. Hiring is based on a 6 month internship, in which 50% of the salary is covered through GEI. Applications for the program must be submitted no later than September 31st, 2013.