Toronto Tech Talent Ranking Rises to Third Spot
CBRE’s annual “Scoring Tech Talent Report” shows Toronto tech talent ranks at #3 in the top fifty U.S. and Canadian cities for tech workers. The report measures cities based on several criteria, including:
- Job Growth
- Supply of Talent
- Tech Degrees Awarded to Graduates
CBRE is a worldwide leader in real estate services that traces its roots to San Francisco, California, in the year 1906. Over time, the company formed CB Commercial, acquired REI Limited (the international division of Richard Ellis), and continued growing to become CB Richard Ellis, also known as CBRE. CBRE Group, Inc. is the largest commercial real estate services company and investment firm in the world.
Growth in Toronto Tech Talent
Over the past five years, Toronto tech talent rose at the fastest rate of all cites in the ranking. The report notes that 80,100 new tech jobs have been created in Toronto, indicating a 54% rate of increase. The top six tech companies in Toronto are:
- Top Hat
Highlight on Toronto Tech Talent at Ecobee
Ecobee was founded in 2007 and has become a market leader in home automation. Products include smart thermostats that conserve energy and help customers reduce their heating and cooling bills. This market is expected to experience a Compound Annual Growth Rate (CAGR) of 23.1% for the time period 2019-2024.
As a result, the market growth rate will increase demand for Ecobee’s products, in turn creating greater demand for Toronto tech talent. Ecobee currently lists several career opportunities in fields such as product technology, software development, engineering, account management, and technical support. Ecobee products interact with other smart home products such as Amazon’s Alexa. In order to interact with Alexa, Ecobee developers must learn how to connect with the service, or integrate it directly into the company’s products such as the Ecobee4 Smart Thermostat.
Toronto Tech Talent Grows with Canada’s Global Talent Stream
One reason that Toronto tech talent has been able to grow as fast as it has is due to Canada’s Global Talent Stream. This program is part of the nation’s Global Skills Strategy, designed to help companies grow by ensuring a ready pool of qualified talent. Eligible workers can start work in Canada at a faster pace with two-week processing of work permit applications. Global Talent Stream program eligibility requirements for employers include:
- Hiring highly-skilled foreign workers for jobs noted on the Global Talent Occupations List
What Does This Mean?
Canada actively seeks to encourage immigration of highly-skilled foreign workers to the country. The nation believes its future success is highly dependent on welcoming immigrants, as well as ensuring they fully integrate into society. Ontario, where Toronto is located, also focuses on attracting skilled workers to smaller cities and towns throughout the province.
Tech industry companies benefit from the nation’s progressive immigration policies. As a result of these policies, Toronto tech talent will continue to grow. Also, a pool of qualified workers is readily available to support corporate growth initiatives.
What Should Employers do to Leverage Toronto Tech Talent?
Employers in Toronto should review their company’s growth plans and requirements for tech industry jobs. They should also review their talent acquisition and management programs. This will help ensure these programs align with a growing number of highly skilled foreign workers.
Employers outside of Toronto should investigate the services of an International PEO. Relocation Management Companies (RMCs) can provide expert assistance to employers looking to expand their corporate presence in Canada.
GMS’ team of global relocation experts has helped thousands of our clients develop relocation programs that attract and retain qualified employees. Our team can help your company determine how to benefit from Canada’s focus on increasing Toronto tech talent.
GMS was the first relocation company to register as a .com, created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation™ technology platform.
Global Mobility Solutions is proud to be named and ranked #1 Overall, and #1 in Quality of Service by HRO Today’s 2019 Baker’s Dozen Customer Satisfaction Survey.
Learn best practices from Global Mobility Solutions, the relocation industry and technology experts. Contact our experts online to discuss your company’s interest in benefiting from the growth of Toronto tech talent, or give us a call at 800.617.1904 or 480.922.0700 today.