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“Key differentiators for Canada include educated talent pools with great experience, the environment, government support for business with respect to employment, and solid education and infrastructure,” Mr. Bunker says. “Canada fares very well in terms of employment risk. To be considered in the same category as New York or Singapore from an employment perspective is impressive.”

Calgary should be comparable to other major Canadian cities

Calgary, Canada’s current growth capital, doesn’t appear in the study because it didn’t meet the criteria for inclusion, which selected major centres based on population. Mr. Bunker suggests that except for problems related to its extremely tight labour supply, Calgary would fare similarlto Vancouver, Toronto and Montreal.

“There is probably more depth to the education system in Toronto and Montreal, but otherwise in terms of talent development and employment practices, as well as government support, Calgary should be comparable to other major Canadian cities,” says Mr. Bunker.

Madeline Avedon, a principal in the talent business in the Toronto office of Mercer, agrees that businesses can mitigate their risks involving labour supply and humna resources by choosing their locations carefully, and that Canada’s workforce is a strong asset in attracting a larger multinational presence.

“The World Bank rates Canada favourably on fundamental conditions necessary for global business,” she says. “Qualities of the workforce itself, such as educational attainment and the overall health of the workforce, are crucial attributes of the Canadian labour market.” Two major factors that minimize risks related to human resources and staffing are a strong history of professional management and healthy labour relations — both areas in which Canada stands out.

“Historically, there hasn’t been a lot of focus on human capital,” according to Ms. Avedon. “Increasingly, organizations are looking to their people strategies to understand how to make smart investments and increase productivity. In this age of scarce talent, companies need to pay attention to their people, and Canadian cities are very attractive in this context.”