Sunday Dec 21, 2014

Royal Bank of Canada: Newcomers Facing Under-Employment Challenges

27 June 2011

In a recent Royal Bank of Canada (RBC) poll, it was found that 49% of newcomers who have been in Canada for a year or less feel that they are underemployed. In fact, even after 6- 10 years, 32% of newcomers continue to feel that their current job is at a lower skill level than they had, or would have had in their country of origin.

Similarly to many people, the majority of newcomers measure success based on their career. This includes having a job that pays well in the field of their expertise.

What comes at no surprise to me is the fact that men are more likely than women to believe that their current job is a step down form what they had, or would have had in their home country.

Camon Mak, director, Multicultural Markets, RBC, explained that once newcomers get past some of the career challenges they face when they move to Canada, they are able to make a tremendous contribution to Canada’s productivity and diversity.

As we all know, Canada is built on immigration; new skills and resources continue to be the key drivers to our global success.

What were the other findings in the poll?

Newcomers provided some career insight when polled:

  • Be prepared to wait for your dream job
  • Determine if you need to be retrained or meet certification requirements
  • Find other whether a demand is there for your current skill set

Honestly, it is a shame that there are so many newcomers being forced to take up jobs that they are not suited for. In the end, those that persevere to the very end will succeed.

Before you make a life changing decision and move to a new country, you have to ask yourself if can stand working at a job where your skills are not properly used, or if you can wait until you can find something that is worthwhile. Interestingly enough, although the majority of newcomers find that the definition of success to be based on their career, as they begin to establish their life in their new country, family and health slowly begin to out weigh everything else.

What can RBC do for newcomers?

iStock 000005399919XSmall1 Royal Bank of Canada: Newcomers Facing Under Employment ChallengesIt goes without saying that research is important for anything you do. Spontaneity is great, but diving head first into everything will be problematic.

With that in mind, Mak explained that you need to determine what you need ahead of time. RBC in fact offers newcomers advice and provides great tools that can assist with the moving process. One feature I particularly love is the fact that it includes resume writing and job hunting tips. This is a great edge for people looking to secure a field in their area of expertise.

When you make such a move in life, it is important that you reign in your finances at an early stage. Having said that, you should be creating a budget and sticking to it; RBC has delivered a great solution for anyone looking to create and manage a budget, and it is called myFinanceTracker.

RBC offers a great package for newcomers which provides great resources and tools that make the transition into Canada nearly seamless. The RBC Welcome to Canada package allows newcomers who have been in Canada for less than 3 years make important financial decisions, advice and discounts on various products and services.

It is a shame that so many newcomers to Canada feel that they are not living up to their potential, however realistically many comes to “start fresh” and look for new opportunities. It might not be easy at the beginning, but in the end if you persevere you should be able to get to a position of success you can be happy with.

 

 

About the Author

Sensei

My favorite weapon of choice is the samurai sword. I use it to cut my chicken during dinner, cut my hair and periodically carve my name into stone when I am bored. I love meditating on top of a 15ft high pole and eating those sushi’s with smoked salmon on top. I love everything there is about Canada and everything financially related to Canadians. I write deily posts from Canadian Banks to Credit Card information.

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