Technological sector | How Canada can attract more talent

Faced with a new wave of patriotic calls in favor of the development of the Canadian technological sector. In addition. Meanwhile, industry players believe that there are ways to better attract and retain local talents as well as eliminate obstacles to business growth. For example,

Posted at 11:52 a.m. Nevertheless,

Sheldon McCormick. Meanwhile. Similarly, CEO of Communitech, a technological pole established in Kitchener, Ontario, noted an increasing momentum around the idea that Canada must technological sector | how canada new “create, acquire and have more innovations” technological sector | how canada in fields such as artificial intelligence and health technologies. In addition,

To achieve this. Therefore. Similarly, intellectual data should be protected, as well as attracting the talents necessary to “anchor the economic value here, in the country,” he added. Moreover,

The challenges to attract. Therefore, retain the talents underlined by actors in the technological sector concern remuneration, government support and the cost of living. For example,

Benjamin Bergen. Therefore. president of the Council of Canadian Innovators, stressed that there had been a sharp increase in the number of American technological talents coming to Canada during the first term of Donald Trump, but that this does not seem to be currently taking place. Nevertheless,

“I think that part of the technological sector | how canada new challenge simply lies in new economic realities. Nevertheless, technological sector | how canada Hiring has obviously not been as numerous as in the past, said Bergen. In addition, The arrival of Donald Trump at the White House is not a strategy for our technological sector. Moreover, It can be slightly beneficial, but it does not change much to attract quality talents. Moreover, »»

Grace Lee Reynolds. Nevertheless, CEO of the Mars Discovery District Innovation pole, however observes a slightly different trend in its technological universe. Furthermore,

“Anecdotally, it feels like more and more people talk about it. Moreover, We hear anecdotes of people about to operate this type of change. Moreover, “she said about technological talents who leave the United States for Canada. Similarly,

“It will be interesting to be able to observe this over technological sector | how canada new a longer period. In addition, I think it’s really crucial, technological sector | how canada ”she said. Consequently,

Technological sector | how canada new

Technological sector | how canada

The role of public procurement

According to Mr. Bergen. the reorientation of Canada’s economic interests would allow the country to build. develop more prosperous technological companies, which could, in turn, attract more talent. He notably mentioned that public procurement could constitute a crucial aspect.

“One of the reasons why Silicon Valley is so unique is the set of. public procurement that the US government has initially concluded. continues to conclude with companies in the region,” said Bergen.

In comparison. Canada acquires its own national solutions less. which complicates the growth of companies, because they do not receive the same volume of orders from the government, he technological sector | how canada new added.

Elaine Kunda. founder and general associate of technological sector | how canada Ventures disruption, however judges that public procurement may not constitute a universal solution.

“If one has the impression that the economy is not growing. investors invest in the sector, public procurement will not resolve the challenges of the technological sector. On the contrary, they make him more dependent on the government, “she said.

Rather. she thinks that the sector would greatly benefit from corporate tax credits, which would encourage people to take more risks.

Compared to Canadian technological companies. American companies are much easier to raise capital and find buyers for their products, according to Mr. Bergen.

M^me Lee Reynolds also considers access to capital as an obstacle to growth, calling it technological sector | how canada new a classic challenge for Canada.

“Capital. especially at technological sector | how canada an early stage, is insufficient to allow its business to grow and gain expansion. There are not enough here, ”she said.

Make sure to remember talent

In the current context. M^me Lee Reynolds believes that it is important to retain talent in the country. because people perceive opportunities in Canada “from the point of view of values”.

“We must then speak of collaboration with the government. or collaborative work within an ecosystem, to unlock more start-up funding in order to allow companies to grow,” she said.

While Canadian technological companies are trying to expand. Lucy Hargreaves. CEO of the group for reflection specializing in Build Canada technologies, says the challenge is to attract the best technological sector | how canada new talents around the world and prevent local workers from leaving Canada.

“The first thing to do is to ensure that the people we have not leave. It’s great to attract new talents to the country, but we have incredible talents in Canada, “she said.

“Each year. our universities form extremely talented. competent graduates, in particular thanks to world renowned programs in the field of technologies, such as those of Waterloo. The first thing to do is therefore how to encourage them to stay, ”she said.

According to M^me Hargreaves. remuneration is a major issue for workers in the technological sector who plan to move or stay in Canada.

“Salaries play an important role. If we consider current wages in the technological sector and in other sectors in Canada, they are technological sector | how canada new generally not competitive. There may be some exceptions. technological sector | how canada but in general. wages are not competitive compared to the US dollars offered in Silicon Valley, “she said.

A study conducted in 2023 by The Dais. a reflection group from the Metropolitan University of Toronto. revealed that American workers in the technological sector earned an average of $ 122,604, while Canadian workers in the same sector earned an average of $ 83,698.

After adjusting to take into account the exchange rate. the cost of living, the study revealed that American workers in the technological sector earned approximately 46 % more.

“The cost of living in Canada is not much lower,” said Bergen. And often. our member companies tell us that they may be looking to hire. bring an excellent technical or financial technological sector | how canada new director director. But frankly, the cost of living is technological sector | how canada higher or equivalent to that of other great jurisdictions. »»

According to him. Canadian companies seeking to attract American talents may have to pay “much more” to compensate for the problems linked to the cost of living. the weakness of the dollar, which created an “increasingly large gap”.

Overall. he argued that some “extremely talented people” could choose to work in Canada according to the country’s values. but he would like the government to strengthen the possibilities of success for national technological companies.