With a persistently strong Canadian dollar, a widening competitiveness gap, low interest rates, strong balance sheets and increasing labour scarcity on the horizon, the imperative for Canadian businesses to invest in M&E has rarely been more compelling. Recent investment performance has been solid but not spectacular. We must do better than solid. In addition to more M&E, workers need better skills.
Canada has a well-educated workforce that ranks favourably when it comes to primary and post-secondary education. However, compared with U.S. firms, Canadian firms lag in the employment of workers with advanced degrees, in the educational attainment of their managers, and in on-the-job training. Canadian firms hire fewer employees with PhDs and other postgraduate degrees, especially in the sciences.