Blog - Cambridge Chamber of Commerce

Our Chamber of Commerce over the years has not only learned how to pivot, but how to address the concerns, issues and needs of the small and medium-sized businesses in our community.

 

The events of the last few years have only strengthened our reason for being. We not only champion small and medium-sized businesses but are a source of information, guidance, and the most powerful connector there is.

 

We have now taken that connection to a new level thanks to ‘The Link’, a place where YOU, an SME business owner/manager can source solutions in a one-stop shop atmosphere. And since this is Small Business Week (Oct. 15-21), it's very important to always remember and celebrate the contributions SMEs make to our economy.

 

For the last seven months, our Chamber has undertaken this huge project (for us). To say we’re excited is a dramatic understatement because for you, we’ve invested and created an exciting, inspirational space that will not only knock your socks off but provide a place where you can share your troubles and find connections to help you navigate those issues that sometimes surface for every business.

 

At The Link you can source HR solutions, legal forms and information, access grant writing, and discover business services of all types that help you streamline, or even eliminate operational costs, and yes, of course, we also have direct access to financial resources only for business.

 

Another aspect to this renovation project is the creation of additional meeting spaces. We can now offer two boardrooms, one that can seat more than 20 and the other between eight and 10, plus a more informal meeting space for five and a private soundproof meeting “pod” also for up to five people. As well, have casual conversation areas and provide a wonderful coffee service.

 

The Link is modern, accessible, and a great place to have a coffee and share conversation all contained in little over 2,220-square-feet of prime real estate at Highway 401 and Hespeler Road.

 

Along with this incredibly cool and unique space comes some unbeatable programming to help you and your team get onside, get ramped up, and get excited for what comes next.

 

Programming at The Link has already been released and space is very limited, so you need to get in early and make sure there is a seat for you. Our Program Manager, (Amrita Gill), is already developing new and different ways for us to connect with meaning, with passion, and as always, with inspiring ideas.

 

The doors opened Oct. 1 and we already have some committed entities ready to set up shop at The Link, but there may still be room for you and your organization. Do you serve only small and medium-sized business? If so, send me a note and maybe, if all the checkmarks are in place, we may just have a spot for you at The Link, but you need to hurry. Yes, there is a cost because we are not a “funded” organization and our support comes from our membership.

 

Speaking of membership, did you know the Cambridge Chamber of Commerce has NOT increased its membership fees in more than 25 years? Talk about an inflation stopper, wow! That is what serving business means to us. We will always find ways to support you and now we are looking for your support to continue the work we do.

 

So please share your expertise with us and book a pod at The Link, or come in and get help from organizations and businesses that are here for you. Even better, drop in and enjoy a coffee, latte, cappuccino, espresso, or my personal favourite, a mochaccino. Hey, I might even buy you one. See you soon at The Link, 750 Hespeler Rd., the Cambridge Chamber of Commerce.

 

 

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In the opening chapter of The E-Myth Revisited, a nearly 30-year-old book that is still relevant today, author Michael E. Gerber describes “The Entrepreneurial Seizure” or that moment when you decide to go into business for yourself.

 

Once the idea of entrepreneurship enters your mind it is life changing. Your imagination explodes with dreams of independence and success that will flow from turning your technical skills or passions into a be-your-own-boss enterprise. “Do what you love,” they say, “and you will never work another day in your life.”

 

This leads to what Gerber calls “The Fatal Assumption” which is that if you are good at the technical work of a business or are passionate about the work you will offer to the marketplace, then it follows that you will understand the business of delivering your goods or services to your customers. In the early days of your business this assumption can appear to be true. 

 

You launch your business filled with entrepreneurial energy, find customers, provide your products or services, build your reputation, and get more customers.

 

The growth cycle continues. Everyone is happy until one day you discover that your success is crushing you and the fatal assumption is revealed: That the technical skills you have are just one small part a of a complex set of business skills that you need to ensure your success.

 

For you to succeed as an entrepreneur you need the following four foundational elements:

 

  • A good product or service that customers want;
  • The ability to sell and deliver your products or services to your customers with quality and timeliness;
  • The ability to follow your money, understand cashflow, receivables, payables, and taxes and to take action to keep it all in order;
  • The ability to manage and strengthen interpersonal relationship with customers, employees, suppliers, etc.

 

Usually, a business starts with your product or service idea that has market demand or perceived market potential and perhaps you have competency in one of the other three foundational elements. 

 

But no one is proficient in all four so entrepreneurial energy and grit to succeed will only take you so far. Then the weaknesses in your business structure and practices reveal themselves as your business grows and your entrepreneurial dream begins to crack. It happens to all businesses.

 

When your business grows to the point where your success is crushing you, you must make a choice to either:

 

  1. Limit your business size to one you can handle on your own or;
  2. Change your business structure by hiring talent to shore up your weaknesses to enable continued growth.

 

Both options are valid. If you want to be a self-employed technician, where you are in control of your job then option 1 is for you but if your entrepreneurial goals include growth beyond your personal time and talent limitations you must choose option 2.

 

Option 2 requires the strategic hiring of people with talents that you do not have that will enable you to delegate and entrust parts of your business operations to them.

 

This may be accounting, sales, HR, communications and/or production personnel and managers.  Some of these services may be contracted out and some are better achieved if hired into your company. 

 

These are important strategic decisions that will enable you to grow beyond your previous limitations.  As you delegate to competent people your job changes to a true company president.

 

When you have good people in the right places in your business you can look up from your day-to-day operations and look out into the marketplace for new opportunities. Sales grow, production increases, cash flows better, and employees, customers, and vendors are satisfied.

 

This sounds easy, but giving up control of parts of your business to other people is a challenging and necessary growth step for small business entrepreneurs.  You may want to enlist a business coach who can also help you stick to your growth plan when it gets hard, as it always does.

 

Remember, at this stage of your business growth what you really need is good people with leadership skills and business management talents that are different and complimentary to yours so that you can set yourself and your business up for success in the next phase of your entrepreneurial journey.

 

 

Submitted by Murray Smith, President of Blue Cancoe Consulting

 

 

 

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The business landscape is complex and changing, especially today.

 

For smaller businesses, trying to navigate and manoeuvre in this current economy is critical and requires a solid combination of soft and hard skills.

 

Having a mentor, usually a person who has more experience, can provide a small business owner the opportunity to glean an understanding of the best ways to accomplish this.

 

“I’ve had many mentors over the years in different capacities, both on the tech side of the business and some on the leadership side,” says Kristen Danson, Managing Partner of MitoGraphics Inc. in Cambridge. “I believe people either succeed beyond what they know or don’t know and if you only use the knowledge and experience you have, you’re limited in your capacity.”

 

That’s why experts say finding just the right mentor, especially one that is motivated and energized and willing to commit their time, is vital to a successful mentorship. As well, for mentees, dedication, and a willingness to be mentored properly is also just as important which is why having similar backgrounds, skillsets and challenges makes for a good match.

 

“You really have to be careful about that and use your gut check,” says Kristen. “You have to make sure you are taking knowledge from a source that is of a benefit to you.”

 

In terms of finding the right mentor, mapping out your goals and setting clear expectations on how that person can assist you is important. Kristen agrees and says most of her mentors have come from relationships she has cultivated over the years through her industry and member associations.

 

“I’ve never been afraid over the years to approach someone at an industry event, someone I can connect with for guidance and leadership advice,” she says. “Sometimes you may have to do that because you don’t have an existing relationship with that person, but you recognize there are traits or experiences you want to benefit from that they have.”

 

While social media has made it easier to make those important connections with others outside of your immediate circle, Kristen says strong mentorships can also be created within your own business by the people you hire.

 

“I hope that I have mentored people over the years,” she says. “But I’ve had employees as mentors because they’ve worked for bigger companies or different places in my industry and can provide that ‘wait a minute’ advice noting other printing companies may do things another way.”

 

She says having supportive feedback can help create efficiencies which in turn benefits the business and adds that mentorship is a two-way street, something the Cambridge of Chamber of Commerce has recognized in the creation of its new Chamber Circles mentoring program. The program sees participants ‘matched’ with a mentor for monthly discussions on a variety of pre-selected topics to help foster professional and personal growth.

 

“Partnerships are not one-sided. That’s why mentoring circles are so important,” says Kristen. “I firmly believe those exchanges of information are always circular.”

 

 

How can mentors help

 

  • Learn from their expertise. A mentor can help you acquire new skills, knowledge, and perspectives that can enhance your professional growth and performance. They can also share with you their best practices, tips, and tricks, as well as their mistakes and lessons learned.
  • Receive constructive feedback. A mentor can help you identify your strengths and weaknesses and suggest ways to improve them. They can also help you set realistic and achievable goals and monitor your progress and achievements.
  • Expand your network. A mentor can introduce you to other professionals, organizations, and resources that can be useful for your career advancement and development. By expanding your network, you can increase your visibility, credibility, and reputation in your field, and access more opportunities and benefits.
  • Gain emotional support. A mentor can be a trusted ally, friend, and confidant, who can listen to your concerns, frustrations, and aspirations, and offer you empathy, advice, and inspiration. By gaining emotional support, you can reduce your stress, anxiety, and burnout, and enhance your well-being, happiness, and satisfaction.
  • How to find a mentor. To find a mentor who matches your needs and goals, you should first identify your objectives and expectations. Then, look for potential mentors in your field, such as alumni networks, professional associations, or online platforms. Once you have found a mentor, stay in touch with them regularly and follow their guidance and feedback.

 

Source: LinkedIn

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The much-anticipated introduction of the Canada-Wide Early Learning and Child Care plan and its goal to introduce its $10 a-day program by 2026 has created a higher demand for spaces as regulated child-care facilities struggle to find qualified staff, which in turn has impacted the economy as parents, many of them women, forgo entering or re-entering the workforce to stay home with their children.

 

“As the plan was introduced right at the beginning of 2023 fees have been cut in half and that has opened up the opportunity for a lot more families to access care that couldn’t, or didn’t, in the past,” says YWCA Cambridge CEO Kim Decker, noting the long wait lists it has created at the organization’s four school-based centres. “We now have parents calling us when they find out they are pregnant to see if they can get their kids on the list for child care because there just aren’t enough spaces.”

 

She says the national plan is being implemented in different ways by provinces and territories, explaining the political ‘will’ of each is dictating what level of success they will reach. In Ontario, which committed to reach $10 per day and create 86,000 new spaces by 2026 when it secured a deal last March with the Government of Canada, Kim says the plan has fallen short.

 

“It’s a status quo funding model and there’s no real opportunity for growth,” she says. “There needs to be a growth plan that accompanies this.”

 

Child-care ‘deserts’ created

 

Kim says the national plan was put in place to not only reduce fees for parents, but create spaces, particularly for those living in underserviced areas. Quoting a report by the Canadian Centre for Policy Alternatives, Kim says 53% of younger children in the province reside in child-care ‘deserts’, adding that Kitchener-Waterloo was identified in the report as being underserviced, despite a push by the Region of Waterloo to the Province to provide more spaces.

 

“Right now, we know that from 2024 to 2026, we will only get another 200 spaces,” she says, adding other local licensed child-care providers are also experiencing space shortages.

 

Kim says the economic impacts of these shortages are being amplified as more companies continue to call employees back to the workplace, explaining that many parents had taken their children out of child care when the pandemic hit but now can no longer find them spaces.

 

“This has disproportionately impacted women because if a family has choices, I will say in most cases it will be the women who will have to make the decision to give up their careers and stay home,” she says. “It’s going to affect the economy and women need to be a big part of our economy if it is going to remain strong.”

 

Chamber submits national policy

 

In effort to alleviate the problem, the Cambridge Chamber of Commerce has submitted a national policy to be considered by the Canadian Chamber of Commerce network at its AGM this fall in Calgary, Alta. Included among our recommendations is a call for the federal and provincial/territorial governments to work together to investigate the possibility of providing subsidization for ECE (early childhood educators) wages and the creation of a fully funded pension and benefits plan in effort to attract more workers into the child-care sector with the goal of reducing wait lists.

 

Labour shortages in terms of attraction and the retention of qualified ECEs has compounded the issue of growing wait lists. As noted in a recent response released by the YWCA Ontario Coalition to the Province regarding its CWELCC discussion paper on the child-care funding formula, the group identified the fact the plan is based on operating capacity rather than licensed capacity. YWCA Ontario’s response states many Ontario child-care operators are operating below licensed capacity due to recruitment and retention issues yet must still bear the costs of maintaining rooms and unoccupied spaces which makes it difficult to hire additional staff to fill those empty spaces.

 

YWCA dealing with staffing crisis

 

“We are in a staffing crisis right now,” says Kim, adding the local YWCA has used reserved funds to hire someone to work with its director of child-care services on recruitment and retention. “We need to be able to staff the spaces we already have.”

 

The Province has set a wage floor of $18 an hour for ECEs, with Ontario’s Minister of Education Stephen Lecce recently announcing an increase of $1 a year annually up to $25.

 

“That’s not going to work,” says Kim. “It needs a whole new way of thinking and a whole new strategy, and a real commitment to paying people what they are worth.”

 

The Association of Early Childhood Educators of Ontario has called for a minimum of $30 an hour for ECEs and $25 an hour for non-ECE staff members. Either one or two of the workers in a child-care room are required to be an ECE, depending on the age of the children.

 

“They have the responsibility for our youngest learners and creating a foundation and baseline for them going forward. It is a really important job and for a very long time, we’ve devalued the work child-care workers provide in our community,” says Kim, adding how local child-care workers were one of the first groups to return to work a few months after the pandemic began in 2020, allowing parents to get back to work sooner. “I think the pandemic also shone a light on how the whole care economy has been underpaid for a really long period of time and child care is part of that.”

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Mental health in the workplace continues to be a major focus, especially as businesses continue to deal with labour shortages and adapt to hybrid work models.

 

“You have to prioritize it,” says Robyn Schwarz, Fund Development, Advocacy, and Communications Lead at Porchlight Counselling Addictions Services in Cambridge. “You have to see it as something you need to learn, the same way you need to learn anything else to grow your business.”

 

Despite the fact the pandemic is considered a thing of the past, she says for some fears and concerns surrounding COVID-19 – especially for those with ongoing health issues - continue to impact their mental health.

 

“I like to think the pandemic really escalated a lot of stressors and acted almost like a catalyst for things that were already just under the surface in our lives,” says Robyn, referring to it as “collective trauma” for the community in general.

 

She says for working parents who had to find ways to support their children through school lockdowns while trying to balance their work life, it has proven particularly hard as they face rising costs. In fact, according to a recent Wellbeing Waterloo Region report Cambridge residents, despite having lower income levels, work more hours to make ends meet. The report shows 6.2% work 55 hours a week or more at than their main job and a 28.3% of respondents work 20 or more hours a week at a second job.

 

“I think as a community, we’re trying to figure out what do our lives look after this while also really struggling cognitively with our brains,” says Robyn.

 

As a result, she says it’s important for employers to be able to read the signs an employee may be dealing with mental health issues.

 

“Looking at different behavioural changes can be really helpful,” says Robyn, noting that sudden tardiness, anger issues, or signs often associated with being a ‘bad’ employee could really indicate a mental health concern. “A mental health issue is one of those things that shows up so different with everyone and we all have different understandings of what emotional dysregulation look likes.”

 

As well, she says addiction issues could also be a byproduct as employees try to find ways to cope with anxiety and depression.

 

“A couple of things we’re hearing in the community is an increase in normalized addictions because many people were at home during the pandemic,” she says, referring to alcohol consumption. “That is something we’ve been really concerned about because it’s something you can hide really easily until it becomes life or death.”

 

As a result, she says creating a supportive workplace environment through trust and open communication is important for an employee to address their mental health issues.

 

“It’s all about finding ways to build those spaces into your work and obviously, every workplace is different. There is no one ‘right’ way to do this,” says Robyn. “It’s about knowing how to talk about mental health and being able to communicate that in a kind and compassionate way. Many employers themselves are also under stress and when an employee knows that they can mutually support each other.”

 

She says just sending employees emails with links to mental health resources isn’t enough, and in fact, could exacerbate the situation.

 

“In that case, you’re putting the onus on your employee to do something that they might not even have the capacity to do and you’re also creating a situation where they feel you’re actually giving them more work to do.”

 

Finding resources can be difficult, says Robyn, noting that private therapy in Canada can cost between $160 to $250 an hour, and that on average between six to 10 sessions are usually needed for a person to make any progress.

 

“Most benefit packages I know, unless you work for a very large corporation, cover perhaps $500 a year,” she says, adding Porchlight, which offers a variety of services, is a good place to discover local resources. “The system right now is a great big puzzle and is very confusing, so an organization like ours we can do the heavy lifting for people to help them access affordable mental health and addictions support.”

 

 

Recommendations from the Ontario Chamber of Commerce’s Mental Wellness in the Workplace: A Playbook for SMEs

 

Develop a comprehensive mental health strategy

•    Develop a mental health strategy that is linked to your EDI strategy.
•    Measure baseline workforce mental health through qualitative (e.g., regular pulse checks and surveys) and quantitative measures (e.g., absenteeism, presenteeism, short- and long-term disability, etc.).
•    Set specific performance targets based on baseline data and the unique needs of your organization and employees.
•    Monitor progress to assess whether intended outcomes were achieved and what steps are needed to improve psychological health and safety.

 

Build a psychologically healthy and safe workplace culture

•    Invest in mental health training to ensure leaders can recognize distress and support employees.
•    Pay attention to the quality of social connections and consider team building options (that adhere to public health guidelines) to foster camaraderie.
•    Encourage employees to practice self-care that includes daily relaxation to decrease stress and healthy habits (e.g., adequate sleep, exercise, etc.).
•    Consider small gestures of appreciation (e.g., a gift card or simple “thank you”), which can impact someone’s day.
•    Consider building a mental health committee or peer support program.

 

Communicate widely, regularly, and effectively

•    Encourage leaders to model open and authentic communication about their mental health challenges – to reduce stigma and encourage employees to seek support.
•    Create spaces for conversation between leaders and employees to share how they feel, check-in with one another, and build a sense of community.
•    Repeat key messages throughout the year to create lasting cultural change and using various formats (e.g., team meetings, posters, etc.)

 

Ensure adequate resources and supports for employees and their families

•    Ensure supports are varied, visible, and accessible – in-person and virtually.
•    Invest in leaders’ wellbeing so they can provide support to employees.
•    Support employees along the full continuum of mental health – from prevention to early intervention to recovery.
•    Review your company’s health plan with your benefits administrator to examine what supports you currently provide and what could be added.

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The minimum wage in Ontario will increase on Oct. 1 to $16.55 an hour and could impact many businesses and their customers.

 

“I think we’ll be fine because I’m confident with our business model and location, but I think it’s going to affect some businesses dramatically because there is no way there can’t be an increase in prices on goods and services,” says Matt Rolleman, a Chamber Member and co-owner of Thirteen at the corner of Water and Main streets in Galt, noting like many restaurants the majority of his staff currently is paid above minimum wage.

 

While the same holds true for many tourism and hospitality businesses, the Tourism Industry of Association of Ontario (TIAO) says it will continue to advocate for tax reforms and other measures to help offset rising commercial costs and supply chain disruptions while promoting business growth.

 

“We’re constantly hearing from businesses about the rising cost of doing business, from paying down pandemic debt to supply chain disruptions that affect the availability of key goods and products, unaffordable commercial insurance premiums, and reduced liability coverage that may impact the scope of what operators can offer in the visitor experience,” says Dr. Jessica Ng, Director, Policy & Government Affairs for TIAO. “The labour crisis has only added to these costs, as businesses look for ways to recruit and retain the staff they need.”

 

She says reviewing compensation structures is one strategy to make tourism and hospitality jobs more attractive and sustainable.

 

“You have to try and pay people for their value, or perceived value,” says Matt, adding it is likely increases will be implemented for all his staff as minimum wage hikes close the salary gap between employees. “We’re doing our best to keep our prices where they are right now, but costs have gone through the roof and trying to manage all these things for all businesses has just become more tougher.”

 

Matt says the timing of the wage hike this coming fall so close to the December 2023 CEBA (Canadian Emergency Business Account) loan repayment deadline may also be an issue for many small businesses.

 

“For businesses that rely on part-time minimum wage workers there’s no way they cannot raise their prices,” he says, adding while boosting minimum wage is necessary to help ensure people can pay their bills, the way increases are introduced leaves a lot to be desired.

 

“It’s become too politicized,” says Matt, noting if it was indexed with a cost of living increase it may be easier to plan for it. “Businesses would expect it every year and maybe we wouldn’t have to have these huge increases that sensationalize the whole issue.”

 

 

We reached out to Chamber Member Jason Kingston, partner at the accounting firm Grant Thornton LLP, to get his perspective on this latest minimum wage hike:

 

Q.  What do you see as one of the biggest impacts raising Ontario’s minimum wage will have on businesses?

 

A.  Minimum wage increases are always a hot-button topic, with researchers and think tanks releasing contradictory articles and papers ranging from an increase causing either complete economic collapse or being the gateway to an economic utopia. That being said, the largest impact on businesses will be that those who rely on minimum wage earners as their employment pool will need to plan on how they are going to absorb the additional cost.

 

Q.  Are most businesses prepared for this minimum wage boost?

 

A.  I would say that many small businesses are not prepared. Could they have been? Undoubtedly. If a business is dependent on the portion of the labour pool who earn the minimum wage, then that business should always be prepared for increases. I think if you look back over the last decade, it’s easy to see more momentum towards increasing minimum wages and aiming towards a living wage, which is still projected as being much higher than the newly increased minimum wage point.

 

Q.  Could the Province have implemented a minimum wage increase in another way?

 

A.  An increase in the minimum wage does make sense, though the extent of the increase can be argued. The average wage increase, across the Ontario labour market in 2022 has been pegged by many as approximately 4%.

A minimum wage increase is an easy solution for the government. It allows them to say that they’re doing their part to combat poverty and wealth inequality. But ultimately it puts the burden on employers, not the government itself, and it still falls far short. For example, under the increased minimum wage the monthly gross income of a full-time employee will be about $2,800. The average cost of a one-bedroom apartment in our region is $1,950 per month. It isn’t hard to see the challenges here.

I think there are larger issues surrounding minimum wage and its purpose and policy reasons which the government should examine.

Common alternatives to minimum wages which are commonly discussed are introducing more collective bargaining options for employee groups, introducing a universal basic income or other government supports for low-income individuals, etc., but these also introduce challenges and differing opinions.

 

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The concept of a four-day work week has been gaining attention in Ontario, thanks in part to the decision by at least seven municipalities that are now offering their staff the flexibility of that option.

 

But the merits of such a system, which has become commonplace in many European countries including Denmark, Germany, Norway, and the Netherlands, is the subject of much debate among critics and advocates in North America.

 

While there are those who believe implementing a shorter work week is impossible in many sectors resulting in additional costs for overtime or hiring more staff, not to mention placing more stress on employees to get their work done in a shorter time frame, others insist such a system creates a better life balance and overall sense of wellbeing that can inspire increased productivity.

 

“There has been a lot of upheaval in workplaces which has opened the doors to rethinking arrangements,” says Ellen Russell, Associate Professor of Digital Media & Journalism at Wilfrid Laurier University and a labour market and economics expert.

 

She believes the next generation of employees may not understand the need to have arbitrary time limits placed on their work hours. “If there is not a reason then my guess is these future workers would really find it strange to be so arbitrary for no apparent reason,” says Ellen.

 

This is a subject Joe O’Connor, Director and Co-founder of the Work Time Reduction Center of Excellence (WTRCE), is more than familiar.

 

As the former CEO of 4 Day Week Global, which has been leading four-day work week trial programs with businesses worldwide, including 10 in Canada, he is a strong believer in the concept and through the WTRCE has been partnering with organizations to support their transformation to a shorter work week.

 

His organization is a proponent of reduced work hours schedules, not just a compressed model where employees are required to work 10-hour days four days a week.

 

“Arguably, post COVID-19 quality of life is now the new frontier of competition,” says Joe, adding for many workers it means more than compensation. “One of the things I have observed is the shift towards embracing shorter work weeks has happened at all three traditional layers of the organization.”

 

He believes business leaders have become more ‘open’ to it because they see the potential benefits in terms of attracting and retaining talent, and that many managers are more comfortable with this type of system because they are now familiar with measuring outputs rather the length of time people spend at their desk.

 

“For the employees, it’s really the demand effect. The value people have placed on time as a benefit has greatly increased because of what people experienced during the pandemic,” says Joe.

 

But he is quick to point out there is no ‘one size fits all’ solution when it comes to implementing a shorter work week.

 

“This is not something that should be implemented the same way from business to business, and industry to industry,” he says, adding in larger organizations work models could even vary between departments. “There will still be a need to facilitate different kinds of irregular work patterns based on business needs and employee preferences.”

 

Employee support is key says Joe when it comes to implementing such a drastic change, which means taking a hard look at how an organization operates, noting that introducing a shorter work week could be met with fear and skepticism.

 

“This is something that really works in organizations with very strong work cultures,” he says, adding going through a thorough evaluation process can galvanize a team as efficiencies are found so they can accommodate that addtional time off. “There is a real collectiveness at the heart of this and it relies on a commitment within teams and departments to find ways to change how they do things together to make it a success.”

 

Joe is confident within the next few years shorter work weeks will be the norm in sectors like information and communication technologies, software companies, and financial services. He also notes that two Canadian law firms, YLaw in B.C. and The Ross Firm in Ontario, have both switched to a four-day work week, something many in the legal industry deemed would be impossible due their current billing systems.

Joe says YLaw accomplished this shift by finding efficiencies in its operations and the latter firm did it by implementing a fixed fee billing system.

 

“My prediction is that in five years’ time, this is going to be the norm in some sectors and in 10 years it’s going to be more common than a five-day week,” says Joe, adding the potential is there to implement this concept in many sectors, including manufacturing. “I think there is an opportunity here for proactive leaders and strong organizations. Now is the time to really set yourself apart from the competition.”

 

 

Pros of a four-day work week

  • Productivity may increase
  • Workers can take care of medical and other appointments on their days off
  • Recruitment and retention may be easier by offering flexible work hours
  • Reduced stress and a better life-work balance, allowing employees more time for other activities and hobbies
  • Commuting less by employees could have environmental benefits

 

Cons of a four-day work week

  • For hourly paid jobs, employers should check if they will need to pay overtime if staff work 10 hours a day
  • If may be difficult to find daycare open for a 10-hour day to meet childcare needs
  • Working longer days or trying to complete tasks in a shorter timeframe could have health impacts
  • This may not work for all industries, such as farming, customer service and restaurants
  • Ensuring customer and client coverage can require scheduling employees over different workdays

 

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The living wage in Waterloo Region has increased to $19.95 an hour, according to the latest report from the Ontario Living Wage Network, which represents an increase of $2.75 from 2021.

 

But what impact this hike has on businesses that are certified living wage employers, or those considering a certification, continues to be weighed.

 

“It depends on the nature of the business,” says Jason Dean, Assistant Professor of Economics at King’s University College at Western, who also teaches at Wilfrid Laurier University, and notes that maximizing profits is the key focus of any business. “Any economist would tell you that profit is good in the sense it ensures as a society that our scarce resources are used efficiently, so without profit, we would not have that.”

 

However, Jason says increasing wages can be done in a way that it can boost the bottom line of a business.

 

“In principle, if you do it right, it can be a benefit to business,” he says.

 

Sabrina McGregor, Branch Manager, YNCU in Cambridge, agrees.

 

“By providing a living a wage, we’re helping reduce stress as many have struggled with increased costs,” she says. “Our employees are very important to us; we want to make sure they have the tools to thrive inside and outside of work.”

 

YNCU is one of about a dozen businesses in Cambridge that are certified with the Ontario Living Wage Network, which charges annually between $100 to $1,000 depending on the size of the private sector business. (Lower rates apply for public sector businesses and non-profits).

 

“We want all of our workers to feel empowered by their employer so they can flourish in our communities,” says Sabrina, noting taking this step helps improve health and morale within the workplace.

 

Stephanie Soulis, founder, and CEO of Little Mushroom Catering, which has provided a living wage to employees since 2017, says it’s something that has always fit nicely within her business plan.

 

“When we started out, we knew we wanted to be a socially responsible business in that paying a living wage makes sense. It fits our culture,” she says, adding she does understand why businesses with many part time workers would find it hard to justify an hourly rate of $19.95. “But I’m also one of those businesses. I have a lot of 18-year-olds who work for me and are living at home with their parents, and they still need to pay car insurance and try to save up money so they can move out.”

 

Sabrina says the minimum wage is not a living wage and providing one can help companies save on things like vacant positions, training, and recruitment.

 

“It should be helping with things like retention and talent attraction. We’d like to think it does but there is definitely a labour war going on,” says Stephanie, noting more restaurants and event companies are now paying higher wages. “In the last four or five months we’ve noticed a big shift. But even with the minimum wage being $15.50 and living wage now $19.95, there’s still that middle ground where other restaurants and event companies are going to pay a bit more than minimum wage – say around $17 – so we still have a bit of that leading edge advantage.”

 

As well as attracting more talent, she says being part of a growing network of businesses has resulted in her company being sought ought by others, both in and outside of the network.

 

“We have many companies, especially non-profits, who want to work with us because we are a living wage employer. It’s not just for talent attraction, but client attraction as well,” she says, adding that education is key before any business decides to become a certified living wage employer. “It’s about weighing the pros and the cons.”

 

 

Breaking it down

 

What is a living wage?

 

“There is no universal definition. It is essentially a poverty line with specific characteristics,” says Jason. “Generally, a living wage is the hourly wage that reflects what people would need to earn to cover the actual costs of living in their particular area. A popular definition: A living wage is a socially acceptable level of income that provides adequate coverage for necessities such as food, shelter, child services, and healthcare. The living wage standard allows for no more than 30% to be spent on rent or a mortgage and is sufficiently higher than the poverty level.”

 

Why are businesses hesitant about offering a living wage?

 

“Businesses exist solely to make profit. Which can be a good thing as this is good for society as a whole because it ensures our scarce resources (labour, land, natural resources etc.) are used efficiently which is translates into a higher standard of living,” says Jason. “Many business owners do not believe their goal is to alleviate poverty and would suggest that this is the role of the government. Moreover, most businesses that pay a non-living wage (such as the minimum wage) have narrow margins and probably would not be able to pay a living wage even if they wanted to.”

 

Can increasing the minimum wage to a living wage help alleviate poverty?

 

“Likely not,” says Jason. “It is also important to point out the following statistics from a Fraser Institute Study: 8.8% of all workers earn the minimum wage; 92.3% of minimum wage earners live in households that are above the LICO (Low Income Cutoff); most minimum wage workers are not primary breadwinners: and 53% of all minimum wage workers are between the ages of 15 and 24.”

 

What advice can you offer businesses who are considering about taking this step?

 

“It can be profitable to pay higher wages in an effort to boost productivity and reduce turnover,” says Jason. “Efficiency wages: refer to employers paying higher than the minimum wage to retain skilled workers, increase productivity, or ensure loyalty.”

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The office holiday party is making a big return.

 

According to RSVPify – an online RSVP and event management platform – pent-up demand following two and half-years of pandemic protocols, plus current staffing retention challenges facing many businesses, has many employers looking for ways to reward staff and perhaps create a more cohesive workplace environment.

 

But finding just the right solution to host an office holiday gathering can often be difficult for those in smaller workplaces.

 

“They basically have very few choices and often go to a restaurant for dinner. But if they want to have a little bit more, something with dancing and entertainment, it can be very difficult for companies with 10 or 30 people to do that,” says Spiro Dracopoulos, Business Development Manager, Bingemans in Kitchener.

 

As a viable and fun alternative, Bingemans is once again offering its Holiday Gala this year on Dec. 16 to provide smaller companies with an option to enjoy an evening out together.

 

“We just want to give smaller business the chance to come out and have a special night,” says Spiro, describing the event which features great food and dancing, plus the chance to meet people from other businesses.

 

“They (companies) feel it’s great value,” he says, referring to the gala which prior to the pandemic attracted anywhere between 400 to 500 people. This year Spiro expects about 250 will attend. “We will build it back up again and I hope in a year or two we’ll be back up to where we were before COVID-19.”

 

In Cambridge, Tapestry Hall is also playing host to smaller businesses with its Making Spirits Bright event, also on Dec. 16, featuring seasonal musical treats and Big Band sounds by the Cambridge Symphony Orchestra (CSO) and their special guest the Bob De Angelis Trio. The event, sponsored by the Souder Family, will also feature not only a wide selection of music, but a four-course meal and dancing.

 

Jillian Monaghan, communications manager for the CSO, says this kind of community collaboration fits in nicely with the organization’s mission.

 

“Our mission really is connecting the community through the power of music,” she says, explaining how the CSO – founded in 2002 – works with many community partners to create sponsorships that bring even more culture to Cambridge.

 

Jillian sees Making Spirits Bright as a wonderful opportunity to showcase the Gaslight District and downtown, noting how much has changed in the last 20 years in terms of new businesses and the arrival of the University of Waterloo’s School of Architecture.

“A lot of things have been going into the downtown core and it’s really a pretty exciting place right now,” she says.

 

 

Making Spirts Bright

 

The event, which has a ‘Great Gatsby’ party theme, kicks off when the doors open at 6 p.m. and features an incredible four-course meal, themed out with bougie favourites of the 1920s.

 

“Big Band was definitely part of the dancing revolution in the Roaring Twenties,” says Jillian. “And the featured band the Bob De Angelis Trio is quiet well known and offers really fun music.”

 

She says members of the CSO, which can number between 35 to 45 professional musicians depending on the performance, will perform four sets throughout the evening.

 

“We’re encouraging our musicians to stick around afterwards so people can meet them,” says Jillian, adding this performance is a bit different than the CSO’s usual concerts which this year includes an event called East Coast – Holiday Treats and More, on Dec. 10.

 

She says tickets for that concert start at around $10 which makes it more ‘family friendly’ in terms of price point.

 

“The Tapestry Hall event is a little bit different because a high-end dinner is included,” says Jillian.

 

To learn more, visit Cambridge Symphony Orchestra.

 

 

Holiday Gala

 

The Holiday Gala at Bingemans will feature a buffet consisting of three entrees, a DJ spinning dance tunes, door prizes and bottles of wine can be purchased, as well as drink tickets.

 

“We have a fabulous buffet dinner,” says Spiro, noting that planning began in September.

 

The event begins with cocktails at 6 p.m., followed by dinner at 7 p.m. A late-night snack rounds out the evening. “There’s definitely going to be lots of food. No one will go away hungry,” he jokes.  To learn more, visit Bingemans.

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Quiet quitting, thanks to viral posts on social media, has become a term very familiar in workplaces worldwide.

 

It describes the phenomenon of employees who no longer go above and beyond by doing only what is expected in effort to maintain jobs that may no longer interest or inspire them.

 

This disengagement from work has grown exponentially since the pandemic. In fact, the 2022 State of the Global Workplace report from Gallup shows only 21% of employees are engaged at work.

 

“We’ve come through such a crisis over the last couple of years. To some extent, I think we’re over it now, but it has forced people to make different decisions about work, especially if they were burnt out already,” says Frank Newman, CEO of Newman Human Resources Consulting, who will explore quiet quitting at a Cambridge Chamber of Commerce webinar Dec. 1 entitled Is Your Team Quietly Quitting?

 

He will not only touch on some of the top reasons why employees quietly quit as well as the warning signs but provide insight on how employers can alter their work environment so they can not only attract but, more importantly, retain employees.

 

“You want to make sure you create the best work environment as possible,” says Frank, acknowledging the existence of an “employees’ market” due to labour shortages.  “That really means taking a very critical look at your work environment. Do you know what people need? Is it benefits? Is it better management? This is the ideal time to do an employee survey or workplace assessment to provide you with some sort of tool you can use to get a fix in terms of what are you going to fix first.”

 

He says this process may not prove to be a comfortable experience for some workplaces, however, insists this information can go a long way in assisting an organization set benchmarks regarding branding, image or even compensation.

 

“There are so many changes happening right now and if you don’t understand where you’re going or where you’re at, it’s pretty hard to make any progress,” says Frank.

 

He also recommends employers conduct exit interviews, formally or informally, to get a sense of why an employee has decided to leave.

 

“Make sure you understand what people are feeling. Also, spend some time with your newest employees and ask them what attracted them to your organization.”

 

Frank says in the age of social media, it’s important to encourage people who leave to remain an ambassador for the organization adding that bad reviews tend to get more traction than good ones.

 

“Organizations need to think about that as they manage those who are quietly quitting and those who suddenly walk out the door,” he says. “I always encourage my clients to search various job boards to see what’s being said about them.”

 

Frank admits it’s a tough time to be a manager right now, noting that employees have become much more critical on how their companies are managed than they were in the past.

 

“People looking for work have so many options out there now, and if you’re a hiring manager, it’s putting more pressure on management to get work done with less resources,” he says, noting the difficulty this causes employees who are now required to pick up the slack due to staffing shortages.

 

However, Frank says he’s optimistic as the economy continues to readjust following the pandemic there will be less quiet quitting.

 

“As companies get smarter in managing their businesses and people, I think you’ll see less of that," he says.

 

Work Trends Facts:

  • Burnout is a big risk in the workplace, especially amongst younger Gen Z professionals aged in their 20s, research shows. A survey of 30,000 workers by Microsoft showed 54% of Gen Z workers are considering quitting their job.
  • In its 2021 Global Risks Report, the World Economic Forum ranks “youth disillusionment” as eighth of 10 immediate risks. Findings include deteriorating mental health since the start of the pandemic, leaving 80% of young people worldwide vulnerable to depression, anxiety, and disappointment.
  • Workforce data from organizations including McKinsey & Company suggests 40% of the global workforce are looking to quit their jobs in the next three to six months.

Source: World Economic Forum website

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