Canadian businesses cite productivity crisis as inflation and burnout disrupt operations in 2024
Inflation and employee burnout are the top challenges Canadian businesses face this year and into 2024, according to a survey by the Healthcare of Ontario Pension Plan (HOOPP) and Angus Reid Group, as reported by BNN Bloomberg.
The survey found that 78 percent of businesses believe inflation has negatively impacted their operations this year, up from 71 percent in 2023.
Employee burnout ranked as the second most significant issue, with 68 percent of respondents stating it hurt their operations, compared to 69 percent the previous year.
Looking ahead, 72 percent of businesses expressed concern about inflation and employee burnout in 2024, reinforcing the sustained impact of these issues.
The survey highlighted broader concerns about productivity. 72 percent of businesses agreed the Canadian economy is experiencing a productivity crisis.
Additionally, 90 percent of respondents recognised that employee productivity directly affects overall business productivity.
The findings are based on an online survey conducted from August 12 to 22, which included responses from 759 Canadian businesses. Due to the online format, the survey does not have an assignable margin of error.
