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Business News

There’s a cost to bad recruiting practices

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We all hear about the frustration job seekers feel when they submit their job application online and never hear another word.  But how much does this damage your brand? Here is some really good advice from a contributor from Edmonton.

The cost of a bad experience – by Shane Calder

(Photo by Brooke Cagle on Unsplash)

“In 2015, Virgin Media received approximately 150,000 job applications, translating into 3,500 new hires. The company estimated that 27,000 (18%) of those applicants were also customers—and that poor candidate experiences led 7416 of those applicant customers to churn from Virgin Media.”

Bad experience costs you?

Virgin Media lost 6 million dollars in revenue as a result of their candidates experience.

(Photo by Robin Worrall on Unsplash)

How is it costing your company?

It’s simple.  It’s negatively impacting your brand.

“Nearly 60% of Job Seekers have had a poor candidate experience & 72% talk about it.”

Candidates want to be contacted with progress of their application. 80% of applicants are discouraged to reapply if they received no feedback. Poor experience can be detrimental to your candidate search and your company’s online reputation. Candidates actually value knowing about the status of their application more than a polished website or a well-designed careers page.

Source: https://workplacetrends.com/candidate-experience-study/

Technology Woes 

(Photo by Adam Birkett on Unsplash)

Have you lost the personal touch?

Candidates who were unsuccessful in a job application doubt a person even reviewed their application. If 85% of the applicants who apply to a job posting doubt that it was ever reviewed by an actual person, imagine the negative impact on your brand and how you are viewed. Will this activity help attract talent?

Add the personal touch.

Augment your resources. Don’t remove your HR professionals from the conversation.  Build a rapport with your candidates. Use emails, live chats and social media.

Source: https://www.thetalentboard.org/cande-awards/cande-research-reports/

Rejected offers

(Photo by Ian Tuck on Unsplash)

In the IBM white paper “The far reaching impact of candidate experience” it was discovered that if a candidate has a good experience there is a 54% chance they will accept an offer. If the experience was a disappointment only 39% would accept an offer of employment. Candidates with a positive experience are 2 times more likely to become a customer. The candidate experience is your company’s opportunity to build brand advocates even if no offer is given.

Source: https://www.ibm.com/downloads/cas/YMOARJJG

Social License To Operate

Photo by Nicole Honeywill on Unsplash

The candidate experience impacts your company and is an opportunity to showcase your company. Don’t miss out on the opportunity to improve the experience. The rewards of increased revenue, reduced costs, advocates and finding good talent are within your control.

Treat job candidates well, give them a great experience and you will be rewarded.

Shane Calder is Principal, 132 ENG Inc.  He can be reached at shane.calder@132eng.com

132 ENG is an exclusive Engineering and Technical Services Company, providing placement and recruiting services. Discover our real results. 132Eng experts have proven expertise and depth of knowledge that is powerful. Let us make it easy, save you time and make you look amazing. It will be our secret.

Todayville is an independently-owned digital media company. We specialize in helping community groups, local businesses and organizations tell their story. Our team has years of media and video production experience. Talk to us about advertising, brand journalism stories, opinion pieces, event promotion, or other ideas you have to make our product better. We also operation Todayville Red Deer and Todayville Agriculture.

Alberta

Canadians not feeling great about personal finances… Even worse in Alberta

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From MNP Canada

According to the latest MNP Consumer Debt Index being released today, Albertans are finding themselves with a lot less wiggle room in household budgets each month. The amount of money left over after paying all their bills and debt obligations has reached its lowest level since tracking began. Even though the Bank of Canada is expected to keep interest rates stable this week, six in ten in the province say they are more concerned about their ability to repay their debts than they used to be.

MNP Consumer Debt Index Update: Albertans finding themselves with a lot less money each month, six in ten concerned their ability to repay their debts

Stable interest rates are a cold comfort to those already having a difficult time making ends meet  

Even though the Bank of Canada has stated that it will keep interest rates stable until next year, six in ten (58%) Albertans say they are more concerned about their ability to repay their debts than they used to be. The concern could be the result of steeply declining wiggle room in household budgets. After paying all their current bills and debt obligations, Albertans say they are, on average, left with $459 at the end of the month, a drop of $209 since June and the lowest level since tracking began in February 2016. Half (49%, +5 pts) say they are left with less than $200 including three in ten (34%) who say they already don’t make enough money to cover all their bills and debt obligations each month (+9 pts).

The findings are part of the latest MNP Consumer Debt Index conducted quarterly by Ipsos. Now in its tenth wave, the Index tracks Canadians’ attitudes about their consumer debt and their perception of their ability to meet their monthly payment obligations.

Average Finances Left at Month-End

Image Caption: Albertans were asked: Thinking about the amount of after-tax income you make each month compared to the amount of your bills and debt obligations each month, how much is left over? In other words, how much wiggle room do you have before you wouldn’t be able to pay all your bills and debt payments each month?

“There has been a marked decline in the amount of wiggle room that households have in Alberta. says Donna Carson, a Licensed Insolvency Trustee with MNP LTD, the country’s largest personal insolvency practice. “Family budgets are being strained by everyday expenses which means many aren’t putting anything away for rainy day savings and that puts them at risk.  It is most often unexpected expenses that force people to take on more debt they can’t afford and that begins a cycle of increasing servicing costs, and eventual default.”

It’s no surprise that with less in the bank at month-end, Albertans’ ability to cope with unexpected expenses has been shaken. Seven in ten (70%) are not confident in their ability to cope with life-changing events – such as a divorce, unexpected auto repairs, loss of employment or the death of a family member – without increasing their debt.

“A job loss or an unexpected expense are most devastating for people who already have a large amount of debt. Our research continues to show just how vulnerable Alberta households are to inevitable life events like a car repair,” says Carson who recommends having at least three to six months of expenses saved in case of emergencies.

Albertans may have fewer dollars left at month-end to buffer them from sudden expenses but, somewhat surprisingly, they are growing generally far more positive about their personal financial situations than those in other provinces. According to the index, one quarter (25%) say that their debt situation is better than it was a year ago (+6 pts) and one in three (32%) say that it is better than five years ago (+7 pts). In addition to being optimistic about the present, there has been a significant increase in the proportion who feel more positive about the future. Four in ten (44%) expect that their debt situation a year from now will be better, a jump of 19 points. Six in ten (58%) believe that it will be better five years from now (+13 pts).

“The current holding pattern on interest rates and increasing economic optimism in the province could be giving Albertans a sense of relief about their finances. Still, the fact remains that many Albertans are deeply indebted and most don’t have a clear path to repayment,” says Carson pointing to evidence from the research showing that many may intend to take on more credit to make ends meet over the next year.

Just about half (48%) of Albertans say they don’t think that they will be able to cover all their living and family expenses for the next 12 months without going further into debt, a one-point decrease since June. Furthermore, just under half (49%) are confident they won’t have any debt in retirement, a one-point increase.

“Some may have resigned themselves to being in debt for life. Interest rates may remain stable but there are many already struggling to make ends meet at the current rate,” says Carson.

A large portion of Albertans (53%) are concerned about how rising interest rates will impact their financial situation, up one point since June. Fifty-two per cent agree that if interest rates go up much more, they are afraid they will be in financial trouble (-4 pts). Finally, a third (35%) are still concerned that rising interest rates could move them towards bankruptcy (-7 pts).

“The single biggest mistake people make is taking on more debt to try and deal with debt. Even if you are swimming in credit card debt, with a line of credit, a mortgage, a car loan or all of the above, you can get help to design a debt relief strategy,” says Carson.

MNP LTD offers free consultations with Licensed Insolvency Trustees to help individuals understand their debt relief options. Licensed Insolvency Trustees are the only government-regulated debt professionals who offer a full range of debt relief options and can guarantee legal protection from creditors through consumer proposals and bankruptcies.


About the MNP Consumer Debt Index

The MNP Consumer Debt Index measures Canadians’ attitudes toward their consumer debt and gauges their ability to pay their bills, endure unexpected expenses, and absorb interest-rate fluctuations without approaching insolvency. Conducted by Ipsos and updated quarterly, the Index is an industry-leading barometer of financial pressure or relief among Canadians. Visit www.MNPdebt.ca/CDI to learn more.

The latest data, representing the tenth wave of the MNP Consumer Debt Index, was compiled by Ipsos on behalf of MNP LTD between September 4 and September 9, 2019. For this survey, a sample of 2,002 Canadians aged 18 years and over was interviewed. The precision of online polls is measured using a credibility interval. In this case, the results are accurate to within +2.5 percentage points, 19 times out of 20, of what the results would have been had all Canadian adults been polled. The credibility interval will be wider among subsets of the population. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.

 

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Agriculture

Hole Family sells greenhouse business after 68 years

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October 28, 2019, St. Alberta- AB-​Hole’s Greenhouses & Gardens LTD. embarks on a new journey as agriculture company, TEC Property Inc., takes over the business on January 01, 2020.

After over 68 years in the greenhouse business the Hole family has decided to move onto a new chapter. The family will continue to focus on its private label merchandise, which is manufactured in the province.

Hole’s has a deep rooted history in Alberta. Nearly 50 years ago, Ted and Lois Hole transformed their red barn into the family’s first retail store. In 1979, Jim Hole, his brother Bill and his sister in law, Valerie took over the company and expanded it to become one of the largest independent retail garden centres in Canada. In 2009, Hole’s began construction on the Enjoy centre, with added space for businesses to lease. In 2015, the centre was sold to focus on the greenhouse business.

Jim Hole, “It is an emotional time for our family and we’re excited for the next step. It’s a privilege to share knowledge of gardening with the community for such a long time and we will continue to do so.”

The family name will remain on the building. The Hole family will stay on at the greenhouse to help with the change until June 30, 2020. All staff will stay on and will continue to pass on expert advice to the community. Sale of the greenhouse business is effective December 31, 2019. TEC Property Inc., the owner of the Enjoy Centre, will take over management of the business and will work with the Hole family in transition for the 2020 season.

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