Solving The Skills Deficit Crisis
In what has been called an “impending labor armageddon”, 83 million skilled worked are expected to retire within the next 7 years. This mass “graying-out” is expected to reduce the available talent pool by 22%. This looming catasrophe is faced by over 89% of countries around the world.
CASE STUDY:
Canada’s Unique Skills Shortage
“Due to Canada’s poor decision making, layers of regulation and convoluted immigration processes, Canada will place dead last for economic growth in advanced economies for the next 40 years.”
Stephen Poloz,
9thGovernor of the Bank of Canada
Impending Challenge
- In 2022: Currently 94,000 vacancies in the trades,
- By 2030: Projected 500,000 vacancies, even after immigration and Red Seal Attainment is factored in.
Legacy Issue
- 157,000 immigrants with engineering degrees in Canada, but less than 19% are employed in an engineering capacity (StatCan).
Future Labor Problem
- In 2022: 22M working people
- By 2030: 5.2M will reach retirementThat is 24% of the working population!
VALID-8 Provided a Solution to Address These Challenges!
A pilot was funded by the Future Skills Centre with over 2,000 Apprentices across Canada to use VALID-8 for the Red Seal Occupations.
- 70.1 % of apprentices wanted a digital logbook
- Encourages review and practice (scope covered)
- Identifies Gaps and help progression
- Fairer assessment – Vital for Underrepresented Groups
- Higher use on the pilot by women and Indigenous Peoples
- Aided achievement and retention
- Overcomes racial and gender bias
Ready to solve your skills shortage?
Let’s talk about what VALID-8 can do for you.