How to create a Labour Market Benefit Plan (LMBP) for the Global Talent Stream
Want your Global Talent Stream application to move faster through the system? You’ll need to present an organized and well-written Labour Market Benefit Plan (LMBP).
That’s why we built this handy LMBP builder, so you can quickly create a plan that the government will love, in just 5 minutes!
Use our fast-and-easy Labour Market Benefit Plan builder
As a growing Canadian company, maybe you already know about why you should use the Global Talent Stream. All over the country, companies are using it to hire the best tech talent the world has to offer. And if you’ve checked out our blog before, maybe you already get the basic process for how to apply to the Global Talent Stream, too!
Are you stuck? Not sure about how you create a Labour Market Benefit Plan (LMBP)? Lucky for you, we’re experts! So, we prepared this guide to help you get started.
Speeding up the hiring process with the Labour Market Benefit Plan (LMBP)
Using the LMBP, it can take just 2 weeks to go through the Global Talent Stream process to get your new employee into Canada. (Without the Global Talent Stream, it takes 6 to 8 weeks — a big difference!)
How to prepare for your LMBP process
You’re going to need to involve your leadership team to build a sustainable and achievable plan, from start to finish. You need to consider budget, headcount, resources and time.
Also, think both short and long term. This benefit plan spans over two years. How will you integrate growth into your existing roadmap? You’ll need to connect with the government on progress or changes to your LMBP.
So, build an LMBP that the government thinks will benefit the Canadian labour market.
Can you show how hiring for senior developer roles abroad will improve Canada’s domestic human capital landscape? Well, you’ll need to be specific about what those benefits are. For instance:
- Increasing skills and training. Hiring specialized people gives your team an opportunity to learn from their expertise.
- You’re developing and implementing policies to support the hiring of underrepresented groups, such as women in high-skilled technical or leadership roles.
- You’re ensuring that the highly skilled foreign workers directly supervise and mentor Canadian workers at the firm to transfer their knowledge.
The key to your success? Give the government what it actually wants. The GTS was designed to help accelerate growth among organizations in Canada that need top talent in order to compete on a global level.
Progress reviews for your Labour Market Benefit Plan. (Yes, the government is paying attention)
Employment and Social Development Canada (ESDC) will do an annual check to see if you’re meeting all conditions of hiring a temporary foreign worker.
They’ll look into how well you’re meeting the commitments you’ve made in your LMBP. Your first check-up will happen a year after you’ve signed your LMBP.
Preparing for your next LMBP
Your first LMBP is always the hardest — but it’s one of those “high-effort, high-reward” kinds of things! When you’re doing your next Global Talent Stream applications, you may be asked to update your LMBP. If your LMBP is strong to begin with, these subsequent applications will be easier, as well!
Need help? We have experts who can help you understand how to create a Labour Market Benefit Plan (LMBP) so you can hire abroad with the Global Talent Stream. Contact VanHack