CPHR MANITOBA
OPTIMISM, RESILIENCE AND ACCEPTANCE Canadian businesses ready for growth, with a caveat or two.
CPHR MANITOBA
The vast majority of Canadian business leaders are bullish on the economy, feel better prepared than ever to negotiate change, and are confident that they will reach growth targets almost as high as pre-pandemic days, but there are significant challenges to be faced to get there. “With what seems to be the worst behind us, it’s once again the human resource challenges that are keeping leaders up at night,” says Ron Gauthier, CEO and Registrar, CPHR Manitoba. “We’re hearing from our members and from the business community that finding and keeping the people who are going to lead and manage their growth and innovation is the big challenge now.”
Two recent national KPMG business leader surveys agree: 85% of CEOs of large Canadian companies are confident in their company’s three-year growth prospects and 90% of SMB’s are confident their business will grow. There is strong confidence in the Canadian economy, with our relatively high vaccine rates and Canadians’ pent-up purchasing power, and they see supply chain issues resolving themselves over the short term, keeping inflation short-term as well. “Leaders are also seeing their organizations as more prepared to deal with any new uncertainties because they’ve built up their resiliency and adaptability,” adds Gauthier. “People who saw HR as a transactional function before the pandemic now see the value in building out the systems and processes that help people manage change and stay engaged.” But the challenges remain. Digital transformation and innovation are priorities, but the competition for talent has never been more fierce. Separate research by KPMG shows the inability to find and retain talent is the top threat to business growth across the country, with almost 70% of mostly mid-sized businesses saying they are having a hard time hiring people
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WINTER 2021
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