Thursday October 22, 2020

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MONITOR

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New CEO

Igloo Software Announces Mike Gaburo as Chief Executive Officer

SaaS industry veteran brings proven leadership, operational excellence, and an outstanding go-to-market track record to Igloo

Igloo Software, the leading provider of digital workplace solutions, is pleased to announce the appointment of Mike Gaburo as Chief Executive Officer, effective immediately. While overseeing all functions and departments at Igloo, Mike will be responsible for driving key areas including the company's vision, culture, strategy, and operations. With more than 25 years of executive leadership experience, 15 of which leading software businesses, Mike has a proven track record of delivering great results for customers, employees, and investors. With a history of crafting collaborative, creative strategy supported by smart investments in technology and people, Mike's teams have consistently delivered excellence in both customer experience and shareholder returns. Most recently, as CEO of payments fintech Brightwell, Mike led the transformation of the company's product and a rejuvenation of its go-to-market efforts, resulting in a 4x growth in the company's user base and revenue during his leadership. Prior to that as COO of Paycor, Mike helped the provider of HCM SaaS grow revenue 5x to over USD$100 million. more...


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Rankings

Environmental, Social, and Governance scores didn’t help stocks during COVID

Environmental, Social, and Governance (ESG) scores are ratings of a company’s performance in relation to pressing societal issues such a climate change. Investors may use these scores to screen investment candidates or use them as one factor in a more integrated quantitative trading strategy. Most people think that investing through an ESG lens will ensure that their stock holdings are more resistant to severe losses when the market crashs, like what has happened during the COVID-19 pandemic. A recent research paper co-authored by Professor Elizabeth Demers (photo), of the School of Accounting and Finance found that it may have been premature to conclude that ESG performance is an important resilience factor in times of crisis, such as the COVID-19 market crash. Have ESG factors demonstrated share price resiliency in these times of uncertainty in the markets? Although there is a lot of hype surrounding the alleged share price resilience of firms scoring highly on ESG performance metrics, particularly during the Q1 2020 COVID-19-induced market meltdown, our study shows that ESG is not a determining factor for returns once fundamental measures of performance, intangible asset investment, and financial flexibility have been considered. more ...


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Research Hub

Perimeter Institute launches Clay Riddell Centre for Quantum Matter

A new research hub at Perimeter seeks to accelerate discovery in one of the fastest-growing fields in physics, thanks to a $10 million investment from the Riddell Family Charitable Foundation.

Perimeter Institute is launching the Clay Riddell Centre for Quantum Matter, a new research hub where scientists will seek to harness the intrinsic properties of quantum mechanics to understand and uncover completely new states of matter. The Centre represents a 10-year, $25 million investment in quantum matter research, made possible by a $10 million founding donation from the Riddell Family Charitable Foundation. “Quantum matter is currently one of the most promising and most productive areas in fundamental physics research. The field is not only accelerating significantly, but also converging toward a rich nexus, ranging from condensed matter physics and quantum information to quantum gravity and string theory,” says Robert Myers, Perimeter’s Director (photo). “Thanks to the Riddell family, the Centre will build on Perimeter’s core strengths in these areas. The Institute’s highly interdisciplinary nature makes it the ideal environment to advance our knowledge of quantum matter.” more...


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CANIE Awards

Innovation Guelph wins Enterprise Support of the Year from Innovators and Entrepreneurs Foundation

Innovation Guelph received the CANIE Enterprise Support of the Year Award presented by Innovators and Entrepreneurs Foundation. As a proud national winner of the CANIE Awards, Innovation Guelph is thrilled to be recognized along with all the outstanding achievement in Canada’s entrepreneurship and innovation community and to deliver a message of resilience and hope during these challenging times. “It is incredible to see the resilience of entrepreneurs and innovators across the country during times like this,” said Kayla Isabelle (photo), Board Chair of the Innovators and Entrepreneurs Foundation and Executive Director of Startup Canada, “coming together to recognize the strength and tenacity of our community is more important than ever.”


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Collaboration

Does Your Workplace Foster Collective Intelligence?

In the digital age, how well our teams collaborate can make or break our organization.
Here are some behaviors to look for—and some you’d better hope you don’t see. by Edward Hess

Why collaboration matters is a no-brainer. As skill sets become increasingly specialized and business gets more complex, multiple people must work together to problem-solve, innovate, and do all the other tasks technology can’t. (It goes without saying this needs to happen quickly.) But what we may not realize is that great collaboration isn’t just a meeting of minds. It’s a meeting of the minds, hearts, and souls. It is that meeting of the minds, hearts, and souls that enables the highest level of collaboration, which is called “collective intelligence.” Achieving this result is highly dependent upon how “human” your workplace is. You can’t just stick people in a room and say, ‘Okay, now collaborate! The environment has to be right. People have to be able to bring their best selves to work. Otherwise, fear, ego, and all kinds of other collaboration-squelching dynamics will run rampant. In a nutshell leaders and employees alike must be able to continuously learn, unlearn, and relearn so they can adapt to the reality of the world as it evolves. (This is the essence of Hyper-Learning.) And a big part of making this happen is creating a culture in which caring, trusting teams can come together and do their thing. more ...


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Marketing

In These Uncertain Times, Some Marketing Appears Overly Optimistic, or Desperate

By Prof Timothy Dewhirst, Department of Marketing & Consumer Studies, Gordon S. Lang School of Business and Economics

The pandemic is having a notable impact on many people’s physical, mental, and financial well-being. We now face remarkable uncertainty when navigating our upcoming plans. Still, these uncertain times have not averted marketing pitches in our inbox that seem overly optimistic and hopeful in their outlook. Remarkably, in September, marketing communication from the Toronto Blue Jays announced that the 2021 spring training schedule is available. Additionally, consumers were encouraged to buy ticket packs, including a 40-game option at Rogers Centre, for the 2021 regular season. Certain matchups of interest as well as specific giveaway days were highlighted. While the Blue Jays were undoubtedly building on the momentum of being a contending team during this year’s shortened season, the marketing pitches appear tone-deaf based on the uncertainties of whether there will be a 162-game schedule next year, including 81 home games being played in Toronto. more ...


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Response

CMH COVID-19 Assessment Centre has new phone number, new telephone system to handle volumes

In advance of opening in its new location, CMH COVID-19 Assessment Centre management decided to start using newly acquired telephone technology right away. This was done to streamline the incredible demand for COVID tests and help manage the anxiety it may cause people who are unable to get through right away to book an appointment. The technology will place callers in a queue, give them a number and forward callers to the next available clerk. As of Wednesday, October 21 those who are symptomatic and seeking a COVID-19 test at CMH’s centre can call 226-895-1050 and follow the options booking a test or rescheduling/canceling a test. “The plan was to implement this technology in the new space. But with the incredibly high demand for COVID testing in our community, we decided to bump it up so that anyone who calls for test will know where they are in line rather than getting a busy signal. more ...


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Supply Chain

Global Pandemic Could Lead To Restructuring Of Canadian Supply Chains

Canadian businesses look to source more inputs domestically rather than from foreign sources

The Covid-19 pandemic has led Canadian businesses to source more inputs from domestic suppliers, a shift that could permanently change how supply chains are managed in this country, new research from The Conference Board of Canada has found. Responding to the Global Commerce Centre’s latest trade survey, many Canadian organizations said they shifted their supply chains more toward domestic suppliers during the global pandemic. An even greater share of survey respondents said they plan to continue sourcing more inputs from local suppliers after the pandemic is over. “Business leaders may be planning to bring their supply chains closer to home as part of a strategy to mitigate the effect of future global supply chain shocks” says Julie Ades (photo), Senior Economist in The Conference Board of Canada’ s Global Commerce Centre. more ...


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Home

Canadians adjust to the pandemic's impact on their homes and lives

Despite challenges brought on by COVID-19, Canadians moving forward with relationships and renos, more than one-third (37 per cent) have, or are planning to complete significant home renovations or repairs to accommodate their new lifestyle

2020 has been a difficult year as the global pandemic continues to affect our personal and financial well-being, living spaces and relationships. And as Canadians attempt to juggle it all, they're discovering creative ways to balance their busy schedules and lifestyle needs from home, according to TD's Real Estate During COVID-19 Survey. "Canadians are re-evaluating the way they live; looking for unique ways to incorporate home offices, classrooms and gyms into their existing spaces as COVID carries on," says Jared Jarman, Associate Vice President, Specialized Advice, Acquisition at TD. more ...


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Relief Fund

Government of Canada announced an investment of $12 million to support Canada United Small Business Relief Fund

Small businesses are at the heart of Canadian communities. They are critical in helping Canada turn the corner on COVID-19 and their success is essential to Canada’s economic strength. Created and launched by RBC, Canada United is a national movement to support local businesses in communities across the country. On Tuesday, during Small Business Week, the Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade, announced an investment of $12 million to support the Canada United Small Business Relief Fund. “By teaming up with the Canada United campaign, our government is able to give yet another lifeline for small businesses during Small Business Week,” said the Honourable Mary Ng (photo), Canada’s Minister of Small Business, Export Promotion and International Trade. “On the road to economic recovery, we will continue to do whatever it takes to support small businesses and entrepreneurs in every corner of the country.” more ...


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Future of Work

Recession and Automation Changes Our Future of Work, But There are Jobs Coming, Report Says

The workforce is automating faster than expected, displacing 85 million jobs in next five years; The robot revolution will create 97 million new jobs, but communities most at risk from disruption will need support from businesses and governments; In 2025, analytical thinking, creativity and flexibility are among the top skills needed; with data and artificial intelligence, content creation and cloud computing the top emerging professions

The Future of Jobs 2020 report has found that COVID-19 has caused the labour market to change faster than expected. The research released today by the World Economic Forum indicates that what used to be considered the “future of work” has already arrived. By 2025, automation and a new division of labour between humans and machines will disrupt 85 million jobs globally in medium and large businesses across 15 industries and 26 economies. Roles in areas such as data entry, accounting and administrative support are decreasing in demand as automation and digitization in the workplace increases. More than 80% of business executives are accelerating plans to digitize work processes and deploy new technologies; and 50% of employers are expecting to accelerate the automation of some roles in their companies. In contrast to previous years, job creation is now slowing while job destruction is accelerating. more ...


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IP

WTO Members discuss intellectual property response to the COVID-19 pandemic

At the meeting of the Council for Trade-Related Aspects of Intellectual Property Rights (TRIPS) on 15-16 October 2020, WTO members discussed how best to use the global intellectual property (IP) system to tackle the COVID-19 pandemic. Members also discussed the extension of the transitional period for least developed countries (LDCs) to implement the TRIPS Agreement and a submission on the competitiveness of micro, small and medium enterprises (MSMEs) through the protection of IP rights. Some 40 members engaged in a substantive discussion on a proposal submitted by India and South Africa for a temporary waiver of certain TRIPS obligations they said would facilitate an appropriate response to COVID-19. The proposal suggests a waiver for all WTO members on the implementation, application and enforcement of certain provisions of the TRIPS Agreement in relation to the “prevention, containment or treatment” of COVID-19. The proponents argued this would avoid barriers to the timely access to affordable medical products including vaccines and medicines or to scaling-up of research, development, manufacturing and supply of essential medical products. more ...


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Jobs

Tech-Driven Changes in Job Markets Threaten Social Contract with Workers

The “21st-century employment model…looks a lot like the 19th century”, according to panellists at the Jobs Reset Summit session on Transforming Jobs, Wages and Work

“Technology has a major, if not the most important, role in shaping the future of work,” said C. Vijayakumar, President and Chief Executive Officer, HCL Technologies, on day two of the World Economic Forum’s Jobs Reset Summit 2020. In the next five years, machines will displace an estimated 85 million jobs but create around 97 million new jobs across 15 industries and 26 economies, according to the Forum’s Future of Jobs Report 2020. The global recession driven by COVID-19 has accelerated this trend and created a highly uncertain outlook for global labour markets. Sharan Burrow (photo), General Secretary of the International Trade Union Confederation, warned that “Internet-mediated platform jobs are absolutely breaking down wages and conditions.” more ...


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Future Planning

Pandemic's economic impacts leading many Canadians to worry about their retirement plans

40 per cent concerned about their post-work lifestyle goals, with close to a quarter unable to contribute to retirement savings since COVID-19 began; CIBC hosting a free webinar in November to address need for retirement advice during the pandemic

A recent CIBC survey finds that the pandemic has impacted Canadians' savings and their anticipated lifestyle in retirement. Four out of 10 (40 per cent) respondents worry about the effect of COVID-19 on their savings and retirement plans, with almost a quarter (23 per cent) unable to contribute to their retirement nest egg since the pandemic began. Of those who feel COVID-19 has affected their retirement plans, many feel their expected vision for their post-work lives has changed. Almost a third (32 per cent) no longer plan on travelling or will travel much less than planned. Many Canadians also feel they will need to work longer than expected – for 30 per cent, this is due to a COVID-19-related loss of household income, and for 26 per cent, they feel the pandemic has significantly increased the cost of retiring. Additionally, out of those who intended to downsize their primary residence in their golden years, 40 per cent are now unsure of the right time to make this move. more ...


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Leadership

Socially Responsible, Low-Carbon Capitalism Can Ensure ‘Job-Full’ Recovery From COVID-19

Climate change is a bigger crisis than COVID-19 – investing in a low-carbon future will drive greater wealth and more jobs, says CEO of Unilever; Fault lines in capitalism have accelerated gaps in wealth, education and job opportunities – we need to restructure to ensure a “job-full” recovery from the COVID crisis, says leading US hedge-fund investor

COVID-19 has caused a jobs crisis but, if we are to recover from the pandemic, two more fundamental crises need tackling: climate change and the nature of capitalism itself. This was the view of leaders taking part in the World Economic Forum’s Jobs Reset Summit, which openedon Tuesday. “The low-carbon revolution will be a booming space for jobs,” said Alan Jope, Chief Executive Officer, Unilever, United Kingdom. Jope said he hopes the recovery from the pandemic will prove a turning point in the battle with climate change, because a greener business can drive both revenues and job creation. According to the European Union, investments in renewable energy could create three times as many jobs as investing in fossil fuels. “One of the most dangerous mindsets in the world,” said Jope, “is to set up a false dichotomy between sustainability and economic growth.” Unilever has saved 800 million euros in sustainable sourcing, while attracting more customers through low-carbon products. A business that is trying to be responsible is a magnet for talent, he said, adding: “We see purpose as a pathway to better profits.” more ...


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Trends

COVID-19 Sparks Boom in Digital Hospitals with Smart Technologies

Digital hospitals enhance patient care and improve healthcare staff's efficiency and productivity, finds study

Frost & Sullivan's recent analysis, Digital Hospitals: Creating Growth Opportunities in Patient Care during the COVID-19 Pandemic and Beyond, finds that digital hospitals that deploy smart technologies, such as artificial intelligence (AI), remote health monitoring, and robotics, deliver higher standards of patient care and hassle-free experiences for health professionals. The adoption of such advanced technologies has witnessed strong traction during the COVID-19 pandemic. There is a massive influx of patients, and traditional hospitals are struggling to provide quality care and ensure health professionals' safety. Technology adoption is expected to rise further in the next two to three years due to higher-quality care and significant productivity gains. more ...











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EVENTS

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November 5 - 7, 2020

Board Governance Boot Camp



Capacity Canada presents our annual Manulife Board Governance BootCamp November 5, 6 & 7, 2020 delivered virtually for the first time. This BootCamp delivers practical governance training to non-profit Boards and equips them with relevant action plans that will deliver a noticeable performance improvement in their boardrooms. go to ...


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