Quote:
Originally Posted by NCC
We're getting left behind thanks to our federal government. From the Bank of Canada via Global News:
"The Bank of Canada is warning that waning productivity growth in the country is an “emergency” that can force higher interest rates and limit rising wages for Canadians. Senior deputy governor Carolyn Rogers gave a speech in Halifax on Tuesday in which she sounded the alarm on Canada's lagging productivity rates."
When I look at my T4 and how little purchasing power I have relative to how much income I have, it infuriates me.
Printing billions of dollars to pay young workers to sit in their basements for 2 years will cost this country a $1000 for every dollar that the feds printed and gave away.
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I think that waning productivity in Canada has very little to do with young workers in their basement. It's more likely due to over regulation, bureaucracy, and an over abundance of "processes" in most corporations. Most private corporations and public entities focus way too much on outdated methodologies driven by less than stellar software. Far too often time is wasted on focusing on outputs instead of actual outcomes. If large corporations and government organizations would focus on hiring the right people for the job instead of focusing on the popularity contest that is inclusiveness and diversity, things would likely become much more productive.
In my 25 plus years with the same corporation, I saw it happening constantly. More and more software and expert analysts were brought in to make the company more "lean" and "agile". The result was predictable, get rid of more front line staff. Customer service would then plummet, quality of work would suffer, consumer confidence would wane and then more analysts would be brought in to try the same stale methods. If share prices edged down, instead of making creative or original changes, the low hanging fruit would be plucked, usually in the form of a cutting front line staff. I literally watched the company change from a traditional pyramid based structure to that of a diamond shape rife with middle management.
Ending up with so many middle managers was way worse than one bad manager, as it led to multiple reporting and decisions, or often no decisions at all. Multiple leaders chased multiple goals and metrics which were often mutually exclusive leading to an indecisive struggle between goals and priorities. This resulted in under-processing or over processing, which in turn nullified efficiency and consistency
When the workforce was being constantly slashed and "outsourced", I always found the questions asked by our leadership via "fair process" completely asinine. We would be asked if we had any ideas why the work wasn't getting done on time, why the customers were not happy with their service and what we thought could be done to improve productivity? Gee, I don't know, maybe because the workforce was cut by about 50% and 25% of the day was now spent utilizing processes that were implemented to find out how to make us more productive. Talk about a department of redundancy department.
I guess the only upside is that I was able to exit the company a few years years early with some extra money in my pocket. But I sure feel for the employees left behind and future employees.
Econonmically - Canada vs Australia
Hybrid Mode
