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Manitoba business leaders identify inflation and rising costs as their primary obstacle. 

February 20, 2024

3-minute read
Post Contributed by: CPHR Manitoba

74% of Manitoban business leaders credit their business challenges to inflation and rising operational costs. Yet, despite these difficulties, business leaders maintain a positive outlook and remain hopeful about the province’s economic future. 

To combat the impact of inflation, almost half of these leaders—48% to be exact—are actively taking steps to reduce internal costs, a necessary move to make ends meet, while demonstrating their dedication to finding solutions to the problem. 

However, inflation isn’t the only challenge businesses face. Business leaders expect to face resistance when retaining and finding new staff members, labelling it as one of their greatest challenges within the upcoming year.  

This anticipated struggle is composed of specific barriers businesses foresee hindering the recruitment of quality new staff. Wages that fall short of expectations pose a significant hurdle, along with the difficulty that businesses face in attracting qualified candidates to meet the evolving needs of their organizations. 

Since the onset of the global pandemic, Manitoba has been through a lot. But even in the face of these challenges, business leaders are cautiously optimistic about what the future holds. They believe that progress is being made toward restoring the province’s economic standing and are committed to finding solutions to any obstacles. 

How CPHRs Help 

We specialize in helping empower businesses by providing strategic expert guidance to help create an environment that develops loyalty with existing staff and attracts new and qualified candidates. While CPHRs can’t fix rising inflation or provide businesses with tax breaks, our resources and seasoned insights can guide businesses to surpass conventional compensation models that can help manage internal costs. 

Choose CPHR 

Hiring a CPHR member for your business is not just a staffing decision; it’s an investment in excellence. 

With a CPHR on your team, you have access to a strategic leader who can provide clear guidance, strategic advice, and leadership in all aspects of HR. By leveraging their expertise, you can unlock the full potential of your business and drive long-term success. 

When you hire a CPHR, you gain more than a human resources professional; you gain a strategic business partner dedicated to achieving excellence through innovative, inclusive, and integrity-driven practices. 

Who We Are 

CPHR Manitoba stands as the premier professional association committed to strengthening the human resources profession and maintaining the utmost gold standards of practice. We build and maintain connections among our members, businesses, and the public, offering insight into the HR profession, issues and emerging trends faced at the provincial, national, and global levels. 

Learn more

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