TORONTO, ONTARIO--(Marketwired - Apr 29, 2013) - According to a BMO Bank of Montreal survey released today, half (51 per cent) of Canadian businesses are planning to hire students or recent graduates this year.
"We've seen more companies investing in employee training and development - in conjunction with creating long-term plans - which will help business owners ensure they have a supply of talented employees who are prepared to drive performance," said Steve Murphy, Senior Vice President, Commercial Banking, BMO Bank of Montreal.
Plans for Hiring Students and Graduates
- One-third (30 per cent) of employers plan to take on a paid summer student
- One-in-five (21 per cent) plan to hire a recent graduate as a permanent employee
- Regionally, job prospects for students and graduates are the brightest in Ontario (56 per cent), followed by the Atlantic Provinces (53 per cent) and Quebec (52 per cent)
|Hire recent graduate as permanent employee||21%||11%||21%||26%||13%||8%||23%||16%|
|Hire recent graduate as paid intern||18%||15%||19%||18%||7%||7%||16%||23%|
|Hire paid summer student||30%||36%||30%||34%||25%||12%||28%||24%|
Mr. Murphy added that as many students are currently looking for summer employment, it's encouraging to see so many Canadian companies with a noticeable appetite to hire students or recent graduates. "These organizations recognize that this group of Canadians bring a wealth of talent and passion into the workforce."
Hiring Differences by Sector
- Business/financial (37 per cent), retail (25 per cent) and construction (22 per cent) companies are the most likely to hire a recent graduate as a paid intern
- The service and manufacturing sectors are the most likely (35 per cent) to hire a paid summer student, followed by the agricultural sector (34 per cent)
- Employers in the manufacturing industry are the most likely (25 per cent) to hire a recent graduate as a permanent employee, followed by the services (24 per cent) and retail and business/financial (23 per cent) industries
"Students and recent graduates are brimming with ideas and fresh perspectives that add value for our customers and our business," said Lynn Roger, Chief Talent Officer, BMO Financial Group. "When they start their career at BMO - through a summer job or a more permanent role - they bring ambition and excitement, and we offer opportunities to grow in ways that are important to them, in a culture where they can truly meet their goals."
The report was conducted via Pollara with a sample of 500 Canadian business owners, conducted between February 25 and March 15, 2013. The margin of error for this survey is ± 4.4 per cent, 19 times out of 20. Data has been weighted by region and company size, based on a December 2011 Statistics Canada Study, so that it is representative of all Canadian business owners.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organization. With total assets of $542 billion as at January 31, 2013 and more than 46,000 employees, BMO Financial Group provides a broad range of personal and commercial banking, wealth management and investment banking products and solutions.