News Releases

TORONTO, ONTARIO--(Marketwire - May 22, 2012) - Businesses need to combat higher levels of immigrant unemployment and wage gaps with better strategies to increase their integration into the Canadian workforce, according to BMO Financial Group. BMO will join ACCES Employment and other leading GTA employers in a mass 'Speed Mentoring' initiative at Hart House, the University of Toronto, on May 29.

Immigrants bring increased levels of innovation and productivity to the Canadian companies that employ them, yet despite impressive credentials and relevant experience, newcomers to Canada continue to experience significantly higher unemployment rates than Canadian-born residents.

Sponsored by BMO Financial Group, ACCES Employment's "2012 Speed Mentoring Marathon" will offer approximately 100 new Canadians a unique opportunity to build their professional network in a series of rapid-fire interviews and mentoring sessions with prospective employers. In the six years since the program began, ACCES Speed Mentoring has assisted over 1,800 job seekers expand their professional networks.

"This is a unique forum and a unique opportunity for leading employers like BMO to meet and recruit highly educated, experienced and qualified professionals to fill available positions within their organizations," said Sonya Kunkel, BMO's Director of Diversity and Inclusion. "Tapping into this enormous pool of skilled talent is good for our business and great for the GTA economy."

Mentors from GTA's top employers will offer 'mentees' their professional expertise in six employment sectors: Finance, Sales and Marketing, Human Resources, Information Technology, Engineering and Supply Chain Management.

Media are invited to observe Speed Mentoring, interview mentees and mentors, and will be provided opportunities to take photos or videos.

BACKGROUND

Most new Canadians come to Canada with an expectation of obtaining employment in their field of expertise. Yet unemployment and underemployment continue to be experienced by a disproportionate number of newcomers. In fact, the wage gap for immigrants has widened in the past three decades, despite their increased levels of education. Many say the need to build a professional network "from scratch" in a new country and job market puts them at a large disadvantage.

Key Facts

• Statistics Canada estimates by 2056, more than a quarter of the population will be 65 or older.
• Current fertility rates are below replacement levels.
• A shrinking population of working-age adults is leading to critical labour and skill shortages.
• Ontario and Canada's economies will increasingly rely on the support of new Canadians to address these skill shortages in key job sectors.
• For the past 20 years, immigration levels have remained constant with about 250,000 permanent residents entering Canada a year. Many argue we need to double this level of immigration to meet current and future labour force needs.
• Productivity, innovation and investment are three major drivers of economic prosperity -- and studies show that immigrants contribute to all of them when given the opportunity.
• A significant barrier to employment is the difficulty immigrants face in having foreign credentials and work experience recognized.
• Job applicants with foreign-sounding names are less likely to be invited to a job interview in Canada.

Each year, ACCES Employment provides services and programs to more than 16,000 job seekers. The corporate partnerships established through the Speed Mentoring program have played an important role in achieving a 75 per cent employment success rate at ACCES' five locations across the GTA.