TAKE THIS JOB AND SHOVE IT? DATA FROM 30,595 CANADIAN COMPANIES OVER 3 YEARS SHOWS CLEAR CANUCK COMPULSION TO QUIT

57,584 CANADIANS WORKING AT A SMALL BUSINESS CALLED IT QUITS FROM 2021-2023

TORONTO, Dec. 18, 2023 /CNW/ - Quitting (quietly, loudly or otherwise) is a solid trend for Canadians based on proprietary customer research by North American payroll provider Wagepoint. To create a trend report snapshot representative of current employment trends and terminations, Wagepoint crunched the aggregate data on 30,595 small businesses across Canada over a three-year-period from the calendar year of 2021 up to the second half of 2023.

Key findings of the study:

Required attribution: please refer to this as a study by Wagepoint in all media mentions.

1) Talking Termination:

 From the 30,595 small businesses sampled, Canadian small businesses (1-200 employees) reported 66,588 terminations of hourly AND salaried positions in 2021.  85,832 terminations of hourly AND salaried positions in 2022 were reported.  Thus far in 2023 (Jan 1, 2023, to Dec 10, 2023) 70,985 terminations of hourly AND salaried positions have been reported.

Over this three-year period, 57,584 cited 'quit' (45,477) or 'quit to take another job' (12,107) as the reason for termination. 56,382 terminations were cited as 'shortage of work/end of contract or season.' 7,644 positions were dismissed or terminated 'within a probationary period.'

On the positive side 5,178 quit to 'return to school' and 648 quit to 'start a new business.'

2) Canada's top three terminators:

Ontario had the highest three-year average number of hourly terminations (28,132), followed by BC (9,722), Alberta (6,664), QC (3,335) and Nova Scotia (2,334).

Ontario had the highest three-year average number of salaried terminations (11,142), followed by BC (2,802), Alberta (2,196), and Quebec (1,483.)

Ontario terminations for hourly employees were 25,013 in 2021, 32,585 in 2022, and 26,798 thus far in 2023 (Jan 1, 2023, to Dec 10, 2023.) Salaried employees followed a similar trend of termination in 2021 with 10,347 reported. Ontario had 12,602 terminations in 2022, and 10,478 terminations (to December 10^th) in 2023.

BC terminations for hourly employees were 9,003 in 2021, 11,229 in 2022, and 8,933 thus far in 2023 (Jan 1, 2023, to Dec 10, 2023.)    Salaried employees followed a similar trend of 2,724 terminations in 2021, 3,033 terminations in 2022, and 2,648 terminations thus far in 2023.

Alberta terminations for hourly employees were 5,829 in 2021, 7,499 in 2022, and 6,663 thus far in 2023 (Jan 1, 2023, to Dec 10, 2023.)    Salaried employees followed a similar trend of 1,749 terminations in 2021, 2,859 terminations in 2022, and 1,979 terminations thus far in 2023.

3) Targets of Termination:

2021

Nationally, younger Canadian workers (20-29) topped hourly position terminations in 2021, followed by 30-39-year-olds and 50+ Canadians.

Older Canadians (30-39) topped salaried position national terminations in 2021, followed by 20-29 and 50+ Canadians.

2022

20-29-year-olds stayed on the top of national hourly job terminations in 2022. 50+ Canadians moved up to the second largest age group for national hourly job terminations in 2022, followed by 30–39-year-olds.

30-39-year-olds topped national salaried terminations for 2022, followed by 20-29-year-olds and 50+ Canadians.

There is a significant increase (+ 7,086) in 2022 for national terminations amongst 20–29-year-olds for hourly jobs (compared to 2021.)

First Half of 2023

20-29-year-olds (11,454), 50+ (6,371) and 30-39-year-olds (6,005) were the topmost nationally terminated hourly workers.

As were 30–39-year-olds (3,661), 20–29-year old's (2,834) and, 50+ (1,734) for salaried positions. 

Second Half 2023

Twenty-somethings go back to top of national terminations: 20–29-year old's, 50+ and 30–39-year-olds topped hourly terminations. 30-39-year-olds, 20-29-year-olds, and 50+ Canadians topped salaried position terminations.

4) Termination Trajectory:

"It's been a challenging three years for all Canadian businesses and Canadian small businesses in particular. The challenge is that we are on trend for slower hiring and slightly higher terminations for the second half of 2023 compared to the first half of 2023," said Shrad Rao, CEO of Wagepoint.  "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."

Required attribution: please refer to this as a study by Wagepoint in all media mentions.

About Wagepoint
Wagepoint is a small-but-mighty fintech company on a mission to simplify payroll – and maybe even dare to make it delightful! Our online software was created just for small businesses, automating the most "ugh" parts of payroll – like calculating wages and reporting on taxes – so that our customers can get back to doing, well, literally anything else. Backed by the world's friendliest team, Wagepoint is always supportive, never stuffy and refreshingly human. Founded in 2012, we make payroll magic happen for more than 25,000 small businesses, accountants and bookkeepers across North America. Visit www.wagepoint.com to learn more or connect with us @Wagepoint.

SOURCE Wagepoint