More Than Half of Canadian Companies Plan to Increase Staff

Regus’ Index score for Canada has slipped eighteen points from April 2011, to 114 this autumn. Signaling a clear move toward more flexible working practices, 50% of Canadian companies indicated they plan to hire more freelance staff and 41% will employ more remote workers in 2011 and 2012.

“In Canada, where unemployment increased 0.1 percentage points to 7.3 percent in August,freelance and remote working are becoming an increasingly popular solution as firms seek a competitive advantage now and growth in the coming months,” explained Wes Lenci, Regional Vice President, Regus. “These same firms have begun to recognize that by taking advantage of solutions already available on the market, such as flexible workplaces, it’s possible for even very small operations to establish a low-risk presence in target markets without making lengthy property or equipment commitments, allowing them to expand or withdraw depending on volatile market conditions.”

Other key findings of the fifth edition of the Regus Business Confidence Index include:
•  In Canada, more than a third (36%) of companies have pushed back their expectations for recovery to the second half of 2012. 
•  The proportion of Canadian companies reporting revenue growth (51%) and those reporting profit growth (42%) has fallen two percentage points compared with six months ago. 
•  Companies trading internationally show a higher business confidence index score (120) compared to those with mainly domestic markets (108)

The report finds that despite positive outlook at the start of 2011, the global sentiment has suffered an opposite trend. The proportion of companies reporting revenues and profit growth has close to stalled and expectations for the full momentum of recovery have slipped yet again, and are now set for the second half of 2012. However, more than half (64%) of global companies say they plan to increase headcount in the next two years despite global business confidence slipping 11% since April. Worldwide hiring intentions also show a strong emphasis on freelancers, graduates and remote workers.