Canada is one of the richest economies in the world, yet our workforce falls behind many developed nations in terms of generating rewards for employee efforts.
Productivity of labour in Canada has fallen notoriously short of standards set by the U.S. economy. According to a recent study by the Institute for Competitiveness and Prosperity, “For each hour we work in Canada, we generate less value from our efforts than our counterparts in the United States. This prosperity gap is a productivity gap, and the productivity gap is an innovation gap.”
When it comes to creating economic value per hour worked, Canada appears to be dragging its feet.
In the field of executive search, we’re always thinking about the future. We’re constantly reminding our clients that the key to success is to foresee change before it occurs. This is why many of our clients are looking to hire for skill sets that don’t exist yet. Businesses are evolving at a rapid rate – and it’s not only influencing hiring practices; the way we work is also changing.
In his Ted Talk, Jason Fried expresses a radical theory of working: that it rarely happens at the office.
Many organizations today are struggling to retain top talent. Companies are attempting to integrate new attitudes and new technologies, and executives are being forced to revamp management principles in order to better reflect the evolving labor pool.
A survey conducted by professionals at CareerBuilder found 39 percent of employers were concerned they’d lose top talent in 2013. According to a survey by Mercer, one in three workers in the United States is seriously considering leaving his or her organization – an increase of 25 percent since 2005.
How do you ensure you’re holding onto top talent and staying innovative?
Senior executives are increasingly struggling with managing generational differences in their workforces. Today’s workforce is more diverse than ever – not only in terms of race and gender, but also age, economic status and education.
Poised to make the biggest impact to our workforce today is the Gen Y generation, known as Millennials. Approximately eighty million strong (forty million of which are already in the workforce), this “up-and-coming” generation is, perhaps, the most diverse (and problematic?) generation yet. Largely born in the 80’s and 90’s, Millennials are expected to account for a vast percentage of tomorrow’s leaders. In fact, Millennials will make up three out of every four workers worldwide by 2025.
Since Four Corners Group was founded seven years ago, we have taken a tremendous amount of pride in our ability to help our clients find and hire great talent. Success of any organization, in a hyper-competitive world, is often determined by the caliber of its leadership and the resolve of its staff. Today’s leading organizations are a pure reflection of the people they employ.
As a Partnership group, we know that executive search is about the details. But in the back of our minds, we also understand that we play a very significant role in enabling growth; we are helping our clients grow by adding skilled professionals, helping our candidates grow by advancing their careers, and bringing in capable search professionals so Four Corners Group can help a wider array of clients.
Here are a few of our latest initiatives:
Executives in senior management roles often find themselves trapped in the cycle of a never-ending to-do list. Staying productive can be a challenge, especially when you feel like you’re constantly trying to get caught up at work.
The key to staying productive is focusing your efforts and planning effectively. Here are some quick pointers to help you better manage your time:
As executive search professionals, we have been entrusted by our clients to find the best available talent. Scouring thousands of resumes, interviewing hundreds of candidates on our clients’ behalf, it’s clear that finding great talent is about blending the traditional with the unorthodox.
Many recruiters and search professionals have become lazy and formulaic in how they find and assess talent. Do they come from the right university? They better not have any gaps in their work history! Do they show a progression from junior to senior? Do they have 5 to 7 years experience in a related field? Did they pass the personality test? And quite frankly, some clients have also adopted a “good enough” mentality towards talent acquisition.
It’s no secret that in order to be successful, a company must be committed to building and maintaining high-quality teams. This not only means recruiting the right talent through executive search efforts, but it also means finding the right cultural fit so you can develop a team that will work together in harmony toward the achievement of important goals and objectives.
Here are some essential characteristics of a successful team:
According to a 2010 study by neuroscientists at the French medical research agency Inserm, if a person is focusing on two tasks simultaneously, each side of the brain tackles a different task. This means the human brain can only handle two tasks at a time.
Taking on more tasks results in an increased chance of errors. Rather than spreading your focus thin between multiple projects, try dedicating a 20-minute slot of time to one task, then switch to the next one. Not only will you notice an increase in productivity, but you’ll also see a rise in your level of innovative thinking.
Making the wrong decision during the hiring process can be devastating for an organization; not only does it cause extensive aggravation for the employer, but also significant financial repercussions for the company. A bad hire can also upset team dynamics and innovation.
The best way to avoid the cost of a bad employee is by hiring right the first time. As a leader in executive search, Four Corners Group offers the resources and hiring talent to do exactly that – saving your company time and money.
According to a study by CareerBuilder, 69 percent of employers report their companies have been negatively affected by a bad hire in the last year. Of those businesses, 41 percent estimated the bad hire cost them more than $25,000, while 24 percent tallied a loss of over $50,000.