The Bureau of Economic Analysis (BEA) announced last week that the U.S. economy grew by a whopping 5% in the 3rd quarter of 2014. This unprecedented growth in GDP should have trickled into Canada’s economic growth numbers, yet things remained sluggish in Canada in the months of July, August, and September. Typically when the U.S. economy surges, so does Canada’s, but the landscape has changed since the great recession of 2009. It was the Canadian consumer that got the economy back on track and shifted the focus of most economists from analyzing the “level of growth” to the “nature of growth”.
But growth driven by (debt-fuelled) household spending just isn’t sustainable. Monetary policymakers have long been preaching for a rebalancing of growth based more on exports, and less on consumer spending. All of this leads to continued uncertainty for Canada’s growth expectations in 2015. Will our trade exports rejuvenate or will consumers continue to carry the economy on their backs despite their mounting debt?
What does this all mean for you at the very grass roots of your business? To sustain, or grow your business, should you invest in capital equipment to improve efficiencies, expand into new markets, and/or invest in human capital? These are questions we hear everyday that are haunting business decision makers across Ontario and Canada. What these decision makers are doing is making sure that whatever decisions they make, they have flexibility and scalability strategies in place to maintain their competitive edge.
If your business is entering a busy period, or is ramping-up as a result of a new piece of business that has been acquired, from a “people planning” perspective, how do you know the labour that is required to hire? Do you have the internal resources in place to manage the hiring and on-boarding of your new staff? Would it make sense to hire for a permanent role? A temporary workforce or a combination of both?
At PIVOTAL, we can offer your organization a customized staffing solution for any human capital requirement you need. Minimize uncertainty and business risk by considering a flexible, scalable staffing solution that provides your company with the agility you need to prosper.
Please visit our website to learn more on PIVOTAL’s Staffing Success Program. http://www.pivotalsolutions.com/services/temp-staffing/