Worker productivity on the rise, but it’s not all good news

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Worker productivity is on the rise, but it’s not all good news since many employees are putting in more hours, according to new research from talent solutions and business consulting firm Robert Half Canada Inc.

Almost 70 per cent of the 1,800 managers with hiring responsibilities surveyed across Canada said they are seeing an increase in employee productivity compared to last year, with 31 per cent saying that hiring full-time employees was the primary factor, while 31 per cent cited enhanced staff training and 29 per cent credited the adoption of new technologies.

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“Increased productivity is very positive news for managers, businesses, and professionals alike,” Koula Vasilopoulos, senior managing director of Robert Half Canada, said in a press release. “Businesses who maintain necessary staffing levels, adopt new technologies, and invest in learning and development training for their staff see the benefits in increased engagement and productivity.”

The survey also interviewed 1,750 professionals, 30 per cent of whom said artificial intelligence is contributing to increased efficiency, with 47 per cent of gen-Zers saying it improved productivity, while only 14 per cent of baby boomers said the same thing.

Other incentives and arrangements that employees said would boost engagement are hybrid work options, flexible work hours and shorter workweeks.

But while productivity is up, 29 per cent of professionals are working more hours than last year, led by 39 per cent of gen-Zers and 34 per cent of millennials.

Managers are part of the problem, with 52 per cent sending emails to employees outside of regular business hours and 28 per cent expecting responses before the next business day.

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Vasilopoulos warns that managers need to be careful because decreased morale could ultimately offset productivity gains.

Increased productivity “needs to be balanced with a positive work environment including reasonable hours and flexibility, as working longer hours and not establishing work-life balance can quickly offset productivity gains through burnout and turnover,” she said.

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Thousands of commuters in three of Canada’s biggest cities were scrambling for alternate ways to get to work yesterday after a labour dispute shut down the nation’s two main railways.

Commuter trains in Toronto, Montreal and Vancouver that use Canadian Pacific Kansas City Ltd. tracks were not operating after the rail company locked out unionized workers early Thursday morning. Those services typically carry 32,000 commuters a day from suburban communities.

Labour Minister Steven MacKinnon stepped in yesterday and asked the Canada Industrial Relations Board to impose binding arbitration on Canadian National Railway Co., Canadian Pacific Kansas City and the Teamsters union.

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Canadian Pacific and Canadian National both issued statements saying they were preparing to restart operations following MacKinnon’s announcement. — Bloomberg

• United States Federal chair Jerome Powell will speak at the Jackson Hole Economic Symposium at 10:00 a.m. ET. The speech is considered the most important of the year for the Fed chair and comes as the central bank looks poised to make its first rate cut in four years next month.
• Today’s Data: Canada retail sales for June, U.S. new home sales for July

Back-to-school shopping is an ideal time to teach kids about money. With their vested interest in planning, budgeting, comparison shopping and actual buying, their motivation to learn money skills is at its peak. Whether your kids are in primary school, high school or heading off to college, here are some tips to prepare them for the new academic year and equip them with essential life skills. Find out more.

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McLister on mortgages

Want to learn more about mortgages? Mortgage strategist Robert McLister’s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won’t want to miss. Plus check his mortgage rate page for Canada’s lowest national mortgage rates, updated daily.

Today’s Posthaste was written by Noella Ovid, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.

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