Talent Retention: A Key Business Strategy for 2026

In Canada, talent retention is a critical priority as industries face persistent labour shortages and increasing competition for skilled professionals.

Why Talent Retention Matters in Canada

Organizations often treat training, compliance, and management systems as initiatives aimed solely at meeting standards or avoiding audit failures. In 2026, however, there is an even more urgent reason to broaden that perspective: the risk of losing human capital.

The Canadian Manufacturers & Exporters (CME) report that 80% of manufacturers cite labour shortages as a top concern for 2026 (https://cme-mec.ca). Similarly, the tech sector continues to grow, with demand for cybersecurity and AI skills outpacing supply (https://ised-isde.canada.ca).

The True Cost of Losing Talent in Canada

Replacing a departing employee is far more expensive than many realize. A recent analysis estimates that in 2025, replacing a single employee can cost between 50% and four times their annual salary — when factoring in hiring, onboarding, training, lost productivity, and hidden costs such as knowledge loss and morale impact. (Applauz)

In Canada, the financial impact is significant. According to Statistics Canada, turnover rates in sectors like manufacturing, healthcare, and technology are rising, with employers reporting annual losses exceeding $36,000 per employee. For larger firms, total turnover-related losses can surpass $100,000 in a single year (https://www.prnewswire.com).

Why Employees Leave — And How Training Improve Retention in Canada

Employee turnover in Canada is driven not only by pay or benefits but increasingly by career development opportunities — or lack thereof. According to Statistics Canada, sectors such as manufacturing, healthcare, and technology report rising voluntary turnover, often linked to limited growth prospects.

Employees who don’t see training, advancement, or a clear career path are more likely to leave. In contrast, organizations that invest in professional development and robust management systems tend to retain talent longer, preserve institutional knowledge, and maintain operational stability.

By 2026, leading Canadian organizations will recognize that compliance, quality, and talent retention are not separate goals but integrated pillars of sustainable performance. To support businesses in strengthening these areas, DNV is offering exclusive discounts on training programs as part of our year-end promotion. Explore the details here: https://www.dnv.com/ca/assurance/training/end-of-year-sales-dnv/

Talent Management as a Strategic Priority for 2026

As we look ahead, “talent risk” — losing experienced, qualified staff — will emerge as a core business risk for Canadian organizations, especially those operating under strict compliance frameworks for quality, safety, environment, or food safety. Ignoring this risk can lead to unplanned costs, operational disruption, and weakened audit readiness.

By integrating training, management systems, and compliance infrastructure into a broader talent-management strategy, organizations can:

  • Preserve institutional knowledge

  • Reduce costs related to hiring and onboarding

  • Maintain consistency across sites and functions

  • Build a culture of continuous improvement and employee development

Training, digital tools, and systematic management don’t just support compliance or certifications — they represent a strategic investment in people, stability, and long-term success. With replacement costs skyrocketing and labour markets uncertain, Canadian businesses that prioritize learning, growth, and system integrity will gain a competitive edge.

In 2026, the most resilient companies will treat compliance, quality, and talent retention as interconnected pillars of performance — because losing people isn’t just a human concern, it’s a business risk.

At DNV, we support this approach with a wide range of training programs — now available with a limited-time promotion: https://www.dnv.com/ca/assurance/training/end-of-year-sales-dnv/

 

Sources: Applauz, PR Newswire, Forbes, Statistics Canada, The Canadian Manufacturers & Exporters (CME), Innovation, Science and Economic Development Canada.

12/10/2025 6:21:00 p.m.