Wednesday, April 25, 2012

Canada: A Strategic Option for Competitive Future

With the emerging intensity of globalization, countries all over the world are developing their strategies that will give impact to their economic and human capital future.


Canada's private and public sectors have convened to discuss about the future. A research by HRPA (Human Resources and Professionals Association) and Deloitte (Canada) has issued some points of their strategic actions that will propel their economy as well as their investments on human capital development. Both examined four areas that are considered the drivers of change;
a. Demographic shifts
b. Economic prosperity
c. Technological adoption
d. Sustainability

The intent of the study was to recognize the continuing real problems that exist, and to identify strategies that will resolve issues, sustain industries, competitiveness of organizations, employment quality that include workplaces and level of innovations. A series of conversations was held among notable CEOs, Chairs of Canadian organizations, ex-Ministers, current Assistant Deputy Ministers, leading academics and economists.

The following captures what they call "invented future", it exemplified that success can be achieved through innovative experiential learning to be sustainable.

  • Modernize education – prepare future talent with the tools, technology and skills from K-12 to post-secondary, and consider changes to improve teaching performance.
  • Reform immigration – correct long-standing challenges with immigrant accreditation and integration to fully leverage the skills and potential of new Canadians.
  • Improve employment flexibility – address looming skill gaps and shortages by fully tapping into the potential of all Canadians (through flexible and customized work arrangements and regulations).
  • Invest in industry excellence – create the conditions for Canadian companies to win in strategic sectors (through incentives, investment and infrastructure).
  • Infrastructure for access to talent – invest in infrastructure to enable labour mobility, access to diverse talent pools and improved take-up of distributed work.
“Canada’s success will depend on creation of a diverse and sustainable economy built on human capital – an effective workforce that has the right people, with the right skills, in the right jobs,” “The strategies discussed in CanadaWorks 2025 encourage a healthy relationship between employer and employee, and help develop a workforce to promote the advantages of Brand Canada. Employment is shifting now and both public and private dialogue and collaboration are necessary to build our future,” concluded William (Bill) Greenhalgh, CEO HRPA.

1. Canadian organizations involved in CanadaWorks continue to be pro-active in defining ways to sustain economic and human capital shifts in the future in order to be competitive.

2. Other countries like Australia, United States, and others strive to develop their own strategic options with similar considerations.  Human Capital and Resources Management is a focus because of its intensifying globalization, its impact to local businesses and economic challenges.

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