Rating our employers in recruiting best workers
A global economy in which employers vie for the best and the brightest is the new normal — and it’s not about to get any easier. A shrinking workforce and stiff competition from other countries means Canadian employers will have to continue to fight to attract and retain employees. Below is a look at several perspectives from various stakeholders on how well Canada’s employers are able to attract top employees.
Canada second in nurturing talent
www.businessweek.com/careers/managementiq/
archives/2007/10/heidrick_strugg.html
“New data on the global talent wars” on the BusinessWeek site reports on a Global Talent Index that lists the top 15 countries to nurture global talent and their projected ranking in 2012. Canada is listed in second place, slipping slightly to a projected ranking of third in the future. The study “was based on seven factors in 30 countries, including demographics, quality of public education, quality of universities, quality to nurture talent, openness of labour market, trends in foreign investment and proclivity to attract talent.”
Engagement around the world
www.towersperrin.com/tp/getwebcachedoc?webc=HRS/USA/2006/200602/GWS.pdf
This Towers Perrin survey Winning Strategies for a Global Workforce looks at attracting, retaining and engaging employees and reports on how businesses in both developed and developing countries are facing a similar set of challenges. “When it comes to business, national boundaries are eroding and companies face a host of complex issues unimagined just 25 years ago.” Although higher levels of engagement translate into better results, the survey finds the majority of employees worldwide are less than fully engaged in their work. Page eight of the report contains a graph comparing employees’ level of engagement in several countries. Canada ranks in the middle, with 17 per cent of employees highly engaged and 66 per cent moderately engaged. About 86,000 full-time employees at mid-size or large corporations around the world completed the survey.
Bay Street pay not ‘substantial enough’
www.tfsa.ca/news/news_releases/TalentMattersMediaCoverage02Apr07.pdf
This Globe and Mail article “Bay St. facing talent crunch” looks at a study done by the Toronto Financial Service Alliance, which found that although the banking, insurance and investment sectors are not in a full-blown crisis, “there are clear warning signs that a lack of critical talent will continue to grow.” The report sounds the alarm bell for the future of Canada’s largest financial centre, saying “the pay is not ‘substantial enough’ for some international whiz kids, while others use Toronto as a stepping stone to more glamorous careers on Wall Street.” As well, while Toronto is seen as a destination of choice among professionals from countries such as China, India and Pakistan, “cumbersome immigration regulations, lack of recognition of education and credentials and other systemic barriers to workplace entry limit the ability of the city and the industry to realize the full economic potential of the global talent pool.”
How to be a best employer
was7.hewitt.com/bestemployers/pdfs/BestEmployer.pdf
This Hewitt Associates booklet What Makes a Best Employer? outlines “insights and findings from Hewitt’s Global Best Employers Study” and examines 1,500 companies across Asia, Europe and the Americas. It highlights some of the best practices from employers in various countries, including Western Digital Malaysia’s emphasis on cultural diversity, employee development at TNT Express Austria and efforts at Canada’s BC Biomedical Laboratories to offer employees flexible hours and job sharing.
HR issues threaten profitability
www.accenture.com/Countries/Canada/About_Accenture/Newsroom/InabilityStudyFinds.htm
The article “Inability to attract and retain talent and other human resources issues are top threats to Canadian corporate profitability” looks at the results of an Accenture survey of 250 senior executives at leading Canadian businesses. “Executives in both the government and communications sectors ranked ‘human resources’ as the top threat to profitability, with 57 per cent of respondents in each of those industries identifying it as a threat. ‘Inability to retain talent’ was seen as the number-two threat to corporate profitability by executives in those same industries, selected by 56 per cent of government respondents and 55 per cent of communications respondents.”
Ann Macaulay is a Toronto-based freelance editor and regular contributor to Canadian HR Reporter. Her Web Sight column appears regularly in the CloseUp section.
Canada second in nurturing talent
www.businessweek.com/careers/managementiq/
archives/2007/10/heidrick_strugg.html
“New data on the global talent wars” on the BusinessWeek site reports on a Global Talent Index that lists the top 15 countries to nurture global talent and their projected ranking in 2012. Canada is listed in second place, slipping slightly to a projected ranking of third in the future. The study “was based on seven factors in 30 countries, including demographics, quality of public education, quality of universities, quality to nurture talent, openness of labour market, trends in foreign investment and proclivity to attract talent.”
Engagement around the world
www.towersperrin.com/tp/getwebcachedoc?webc=HRS/USA/2006/200602/GWS.pdf
This Towers Perrin survey Winning Strategies for a Global Workforce looks at attracting, retaining and engaging employees and reports on how businesses in both developed and developing countries are facing a similar set of challenges. “When it comes to business, national boundaries are eroding and companies face a host of complex issues unimagined just 25 years ago.” Although higher levels of engagement translate into better results, the survey finds the majority of employees worldwide are less than fully engaged in their work. Page eight of the report contains a graph comparing employees’ level of engagement in several countries. Canada ranks in the middle, with 17 per cent of employees highly engaged and 66 per cent moderately engaged. About 86,000 full-time employees at mid-size or large corporations around the world completed the survey.
Bay Street pay not ‘substantial enough’
www.tfsa.ca/news/news_releases/TalentMattersMediaCoverage02Apr07.pdf
This Globe and Mail article “Bay St. facing talent crunch” looks at a study done by the Toronto Financial Service Alliance, which found that although the banking, insurance and investment sectors are not in a full-blown crisis, “there are clear warning signs that a lack of critical talent will continue to grow.” The report sounds the alarm bell for the future of Canada’s largest financial centre, saying “the pay is not ‘substantial enough’ for some international whiz kids, while others use Toronto as a stepping stone to more glamorous careers on Wall Street.” As well, while Toronto is seen as a destination of choice among professionals from countries such as China, India and Pakistan, “cumbersome immigration regulations, lack of recognition of education and credentials and other systemic barriers to workplace entry limit the ability of the city and the industry to realize the full economic potential of the global talent pool.”
How to be a best employer
was7.hewitt.com/bestemployers/pdfs/BestEmployer.pdf
This Hewitt Associates booklet What Makes a Best Employer? outlines “insights and findings from Hewitt’s Global Best Employers Study” and examines 1,500 companies across Asia, Europe and the Americas. It highlights some of the best practices from employers in various countries, including Western Digital Malaysia’s emphasis on cultural diversity, employee development at TNT Express Austria and efforts at Canada’s BC Biomedical Laboratories to offer employees flexible hours and job sharing.
HR issues threaten profitability
www.accenture.com/Countries/Canada/About_Accenture/Newsroom/InabilityStudyFinds.htm
The article “Inability to attract and retain talent and other human resources issues are top threats to Canadian corporate profitability” looks at the results of an Accenture survey of 250 senior executives at leading Canadian businesses. “Executives in both the government and communications sectors ranked ‘human resources’ as the top threat to profitability, with 57 per cent of respondents in each of those industries identifying it as a threat. ‘Inability to retain talent’ was seen as the number-two threat to corporate profitability by executives in those same industries, selected by 56 per cent of government respondents and 55 per cent of communications respondents.”
Ann Macaulay is a Toronto-based freelance editor and regular contributor to Canadian HR Reporter. Her Web Sight column appears regularly in the CloseUp section.
