Although employment in Canada was little changed in August versus July, the year over year results show a more positive picture with an overall increase of close to 200,000 full time jobs. August job increases were primarily realized in public administration and educational services – all other areas held fairly steady.
South of the border, while August realized somewhat softer job growth than forecast (falling below 200,000 jobs for the first time in months) the overall unemployment rate actually declined to its lowest level in several years – now sitting at 5.1%. Job gains in the USA were realized primarily in healthcare, social assistance and financial services while manufacturing and mining realized some declines. In the USA increased job activity was seen primarily in large companies and government sectors whereas in Canada midsized companies and public sector employers saw the most activity.
In looking at overall job functions, recent international and regional reports from multiple sources indicate that voluntary turnover levels are seeing marked increases in the sales function. Technology and financial services related sales roles, in particular, are showing heightened turnover activity. And, as is often the case in high turnover situations, top talent are generally the first to defect. Is it time to look closely at your sales organization?
August 2015 C-suite turnover realized healthy increases in all 4 categories as compared to August 2014. CEO turnover, year over year, increased by 36%. As well, CFO, over all C-suite changes and Board changes all saw increases: CFO +7%, overall C-suite +55% and Board changes +49%.
Month over month changes told a different story with increases in only 3 of the 4 categories. August 2015 versus July 2015 breaks out as follows: CEO changes +4%, CFO changes +10%, over all C-suite changes +5% and Board changes -8%. The small decline in Board level activity is not surprising due to extraordinary gains earlier this year, coupled with the summer hiatus.
August 2015 C Suite turnover activities break down as follows: