Confidence rising: Canadian CEOs focus on talent

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With confidence in growth on the rise, many CEOs are working to position their organizations to take advantage of potential new opportunities. In this year’s survey, talent management was identified as a key priority for CEOs. In Canada, 85% of CEOs said that they intend to make “some” or a “major” change to their strategies for managing talent. The concentration on talent management was noticeably reflected in hiring plans. Over 60% of Canadian CEOs said they expected to add jobs over the next year, as compared to approximately 50% worldwide.

With respect to people strategy, the Canadian results diverged from the global norm in a number of fascinating ways. While most CEOs surveyed planned to increase their commitment to creating and fostering a skilled workforce, Canada was unique in the emphasis CEOs placed on older workers; 60% of CEOs in Canada stated that they had plans to make “some” or “significant” change to their people strategy to increasingly recruit and retain older employees, as compared to 42% of CEOs globally. Canadian CEOs also had plans to use more non-financial rewards to motivate their staff and to increasingly work with governments and education systems to improve skills in the talent pool.