2 Years In Review: The Global Talent Stream Canada
As the demand for high-skilled workers in Canada continues to rise, the Canadian government implemented the Global Talent Stream to allow companies to quickly hire foreign tech workers and scale up their businesses. Now that the program has been in place for over 2 years, how effective has it been?
Here we’ll discuss the success of the program, as well as its status moving forward.
What Is The Global Talent Stream?
The Global Talent Stream is a program created by the Canadian government to speed up the process for Canadian companies looking to sponsor foreign tech workers.
Originally implemented as a 2-year pilot program, the Global Talent Stream is still in effect. Companies must fill out an application and submit it to Employment and Social Development Canada (ESDC), where the ESDC will decide if the company and worker meet the program requirements. To learn more about the program and how it works, read our blog post here.
When Was The Global Talent Stream Created?
The program began in June of 2017. It was originally designed to last 2-years as a pilot program so that the government could measure its effectiveness in bringing benefits to the Canadian labour force.
Given the overall success of the program (to be discussed in greater detail below), it has been extended past its original 2-year window and looks to remain a part of our immigration landscape for quite some time.
How Many Jobs Has The Global Talent Stream Created in Canada?
The Global Talent Stream was implemented to help companies sponsor more tech workers in their Canadian offices. In just 2 years, the initiative has proven to be a success, with over 20,000 visas granted to foreign workers across 13 different occupations.
The government estimates that the high tech sector in Canada will face a shortage of over 200,000 tech roles in upcoming years, so it’s likely that the number of jobs filled by the Global Talent Stream will only continue to rise.
In addition to visas granted to foreign workers, the Global Talent Stream has also created a large number of jobs for Canadians. A recent budge estimate released in early 2019 showed that companies using the program have committed to creating over 40,000 jobs for Canadian citizens and permanent residents.
The budget also stated that Canadian companies have committed to nearly $100 million worth of investment in skilled training and investments for Canadian workers.
How Many Canadian Companies Have Sponsored Foreign Workers?
In total, over 1,100 Canadian companies used the Global Talent Stream program to sponsor foreign workers. As the program continues, the number of employers participating is expected to grow significantly.
Is The Global Talent Stream Permanent?
Demand for skilled tech workers continues to increase, and the Canadian government has made the Global Talent Stream program permanent for the time being. In 2019, the government budgeted $30 million for the program over the next 5 years, ensuring that the country can continue to attract skilled workers in the coming years.
How long will the government continue to support the policy? That’s difficult to answer with any certainty as like any immigration policy, the Global Talent Stream could be affected by political factors. However, due to the importance of the tech industry for our economy, our guess is it will be around for quite some time.
If you want to learn more about it or get in touch, head over here.