Article
The future of productivity
An eight-step game plan for Canada
Read Deloitte’s eight-step action plan to address Canada’s chronic productivity problem and watch vice-chair Bill Currie’s “call to arms” for Canada.
Productivity is an issue that has been growing unchecked in Canada for decades. It threatens the nation’s future affluence and our standard of living. Deloitte Canada conducted a study to investigate the major causes of the productivity gap, and has developed an eight-step action plan for business, academia and government to help boost Canada’s performance.
With a strong dollar and a positive economic outlook, now is the time to invest in Canadian businesses both large and small. That’s just one of the eight recommendations in our report. Others tackle areas as diverse as immigration, education, innovation and foreign investment. Some are longer-term solutions that require strategic thinking — but they’re more likely to yield the sustainable results needed to generate benefits for Canadians and Canadian enterprises.
Why is now the time to invest in closing Canada’s productivity gap? We stand at a crossroads. Canada has been successful in attracting immigrants — a significant factor in growing and sustaining our country’s productivity and standard of living. But with aging demographics around the world, we will soon be competing for immigrants. It is crucial for Canada to invest now to sustain our future.