Human Resource Management is Growing in Canada for 2024

In the ever-changing Canadian job market, one profession that continues to stand out is human resource (HR) management. As we enter 2024, the demand for skilled HR managers is expected to skyrocket. This demand is driven by economic recovery, technological advancements and evolving workplace dynamics. This blog post will delve into the reasons why human resource management is growing in Canada and explore the many opportunities this presents for aspiring HR managers. Additionally, we will discuss the employment requirements, salary expectations and job prospects in this field.

What are the employment requirements for human resource management?

If you want to grow your career in human resource management, there are certain educational and professional qualifications that are requested by Canadian employers. A bachelor's degree in Human Resources, Business Administration or a related field is a minimum requirement. According to the Canada National Trends Survey report, over 59% of senior HR professionals in Canada hold at least a bachelor's degree in a relevant field and over 75% have a national designation like CPHR, CHRP, CHRL, and CHRE. 

Professional certifications, such as the Chartered Professional in Human Resources (CPHR) designation, can significantly enhance your marketability and credibility as an HR manager. According to CPHR Saskatchewan, It is estimated that HR professionals with a CPHR designation can earn up to 29% more than their non-certified counterparts.

What is the average salary in human resource management?

The compensation for HR professionals in Canada varies depending on factors such as location, level of experience and industry. On average, entry-level HR coordinators or generalists can expect to earn between $50,000 to $60,000 per year. With several years of experience and specialization in areas like talent acquisition, compensation and benefits, HR professionals can earn significantly higher salaries, ranging from $70,000 to $100,000 or more.

Senior HR roles, such as HR managers or directors, can command even higher salaries, often surpassing the $100,000 mark with the potential for bonuses and other incentives. It's important to note that salaries may be higher in metropolitan areas with a higher cost of living, such as Toronto, Vancouver and Calgary.

Human Resource Management Job Prospects

The job prospects for human resource management professionals in Canada are exceptionally promising. As businesses continue to navigate the complexities of a rapidly changing work environment, the need for skilled HR managers is greater than ever before. Roles within recruitment, employee relations, training and development, and HR strategy are expected to see substantial growth in the years ahead.

Specialized areas within HR, such as HR analytics and HR technology, are gaining traction, offering unique opportunities for professionals with expertise in these areas. According to recent projections by COPS, job opportunities in HR are expected to total 48,600 by 2023, with the expected number of job seekers to be 46,100.

As we enter 2024, the demand for human resource managers in Canada is expected to reach new heights. Economic recovery, technological advancements, DEI initiatives and evolving work models are key drivers behind an increasing need for HR managers. For aspiring HR managers, staying updated with HR trends and honing the necessary skills will be crucial in seizing the many career opportunities available in this growing field.

If you're looking to start a career in human resource management, why not get a career loan from Windmill Microlending? We pay for the costs of certification, accreditation and training required to help you achieve career success as an HR manager in Canada.