[Canada] Quitting trend within small businesses

New data has revealed that, as of December 10, the overall number of terminations of hourly and salaried positions in Canadian small businesses passed 70,000, HRD reports.

Payroll provider Wagepoint found that there were 70,895 terminations of hourly and salaried positions from January 1 to December 10 this year, in its aggregate data analysis of 30,595 small businesses across Canada.

Quitting has reportedly been the most cited reason for termination over the last three years with 57,584 workers choosing to resign their positions, including 12,107 who said they left to pursue another job.

Other reasons from Wagepoint’s findings include:

• Shortage of work/end of contract or season (56,382)
• Dismissed or terminated within a probationary period (7,644)
• Returning to school (5,178)
• Starting a new business (648)

The terminations figure currently remains below the 85,832 terminations recorded for hourly and salaried positions in 2022. However, it is already above the 66,588 terminations recorded in 2021.

Shrad Rao - CEO of Wagepoint - reportedly said that small businesses currently face the challenge of "slower hiring and slightly higher terminations" for the second half of 2023.

"But trends can quickly change, we are betting on the grit, determination, and resilience of Canadian small businesses to find a way to thrive in 2024.”

Source: HRD

(Link and quotes via original reporting)

New data has revealed that, as of December 10, the overall number of terminations of hourly and salaried positions in Canadian small businesses passed 70,000, HRD reports.

Payroll provider Wagepoint found that there were 70,895 terminations of hourly and salaried positions from January 1 to December 10 this year, in its aggregate data analysis of 30,595 small businesses across Canada.

Quitting has reportedly been the most cited reason for termination over the last three years with 57,584 workers choosing to resign their positions, including 12,107 who said they left to pursue another job.

Other reasons from Wagepoint’s findings include:

• Shortage of work/end of contract or season (56,382)
• Dismissed or terminated within a probationary period (7,644)
• Returning to school (5,178)
• Starting a new business (648)

The terminations figure currently remains below the 85,832 terminations recorded for hourly and salaried positions in 2022. However, it is already above the 66,588 terminations recorded in 2021.

Shrad Rao - CEO of Wagepoint - reportedly said that small businesses currently face the challenge of "slower hiring and slightly higher terminations" for the second half of 2023.

"But trends can quickly change, we are betting on the grit, determination, and resilience of Canadian small businesses to find a way to thrive in 2024.”

Source: HRD

(Link and quotes via original reporting)