As we have proudly mentioned in a number blogs of past, Canada is a world leader when it comes to rebounding from the recession. We alluded to this fact likely being a major factor in Prime Minister Stephen Harper not only reclaiming his title as the nation’s leader, but securing a majority government in the federal election held earlier this month.
One of the biggest reasons that Canada has been so successful in strengthening its economy since the global financial crisis is job growth. With job openings becoming more and more available, the nation is bouncing back in ways that our neighboring United States could only dream of.
Yesterday, QMI Agency reported that this trend will continue for Canadians, especially in the sales and marketing sectors. New reports suggest that companies are looking to resume hiring and grow their businesses this year. At least, this is the case, according to the new American Express/CFO Research Global Business & Spending Monitor.
Based on the report’s findings, 58 per cent of respondents plan to hire more sales staff while 44 per cent are looking to grow their marketing departments. We’re also happy to learn that 78 per cent of the survey’s respondents plan on expanding their businesses as they increase staff in 2011.
The Amex study is not alone in predicting that Canada plans on spiking its hiring ways this year. QMI reveals that a RBC/Canadian Institute of Chartered Accountants survey found that 47 per cent of the chartered accountants it polled intend on increasing their hiring trends as well.
In fact, optimism among Chartered Accountants in Canada is at 64 per cent – a 23 per cent jump since the end of last year! It would appear as if these positive sentiments are being shared throughout the country. Meanwhile, American firms seem to be focused more on cost cutting rather than growing their businesses.
According Rob McClean, the vice president and general manager of Global Commercial Card, Amex Bank of Canada: “Finance executives are opening up the company coffers to drive growth and are moving away from budget cuts. Businesses are exercising caution but we will see greater spending to win and retain customers as they jockey for position in a recovering economy.”