CANADA NEEDS AGGRESSIVE INNOVATION, TECHNOLOGY DEVELOPMENT TO COMPETE
CPHR CANADA CALLS FOR GREATER COMMITMENTS FROM GOVERNMENT / PRIVATE SECTOR.
Canada needs to step up its commitments to innovation and technology if we hope to remain competitive as we enter the fourth industrial revolution. This according to Canada-150-and-Beyond: The Role of Human Resources In Canada's Prosperity, released today by CPHR Canada.
“The economic growth of any Country relies on an efficient and productive workforce,” says Anthony Ariganello, CPHR, CEO, CPHR Canada. “This is determined by the number and the quality of jobs and the available talent pool to meet those needs. If we can’t attract and retain a workforce of innovators into key industry sectors, we risk falling back into a primarily resource-based economy, while others are innovating and staking their ground, merging physical, biologic and digital technologies.”
Lack of innovation is considered a serious impediment to the growth of Canadian labour efficiency and productivity.
Canada’s performance in this area has been described as dismal based on deteriorating domestic trends as well as international perspectives. A dynamic strategic policy response is urgently required for enabling Canada to assume leadership in this very critical element of the economy.
The Canadian Government can facilitate growth of labour productivity with appropriate policy instruments such as monetary and fiscal incentives for investing in capital equipment, innovation and research. But the private sector also must come to terms with the HR implications.
“According to PwC 2017 Annual CEO survey, most CEOs believe technology will completely reshape or disrupt their businesses over the next five years. But at the same time, Canadian business leaders don’t view the hiring of people with innovation skills as a top priority. If we don’t create real opportunities for top talent, we can rest assured they will go where the opportunities are.”
In the same time frame, post-secondary education, immigration and ongoing training and development of the current workforce will be challenged to meet the needs for a workforce that is increasingly comfortable in dynamic environments.
“It is clear from this report that Canada needs to adopt innovation as a cultural norm if we plan to keep pace in this international environment. As we increase our capacity for infinite improvement across all sectors, it will strengthen our economic position and produce positive social impacts,” adds Ariganello.
“For our part, we will reinforce this message in venues across the Country, while the Chartered Professionals in Human Resources across Canada continually hone their skills, knowledge and experience to bolster government, education and the private sector in these efforts.”