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BUSINESS M I N D I N G O U R PUBLISHED IN COOPERATION WITH THE WELLINGTON ADVERTISER CENTRE WELLINGTON VOLUME 2 ISSUE 3 Building in Centre Wellington March 2009
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BUSINESS MAGAZINE
Transcript of MOBMARCH09
BUSINESSM I N D I N G O U R
PUBLISHED IN COOPERATION WITH THE WELLINGTON ADVERTISER
CENTRE WELLINGTON VOLUME 2 ISSUE 3
Building inCentreWellington
March 2009
PAGE 2 | March 09
MINDING OUR
BUSINESS is mailed to all registered businesses in Centre Wellington. Not registered as a business with Canada Post? Misplaced your copy?
Pick up a copy of Minding Our Business at: Centre Wellington Chamber of Commerce, The Wellington Advertiser, Fergus BIA, Elora BIA,Wellington-Waterloo Futures Development Corporation
MILE STONESHeritage AwardsIn celebration of Heritage Week, KathyBaranski of Heritage Centre Wellington,presented five Awards of Excellence tobusinesses to formally acknowledge therenovations and restorations of heritageproperties.
Clockwise top left to right:
Paul Martin and Malcolm Crooksof Edge Realty, formerlythe Old Livery
Reina Todd and Janette Feniakof VanGali’s
Ron, Amy and Graham Wilkin of Ron Wilkin’s Jewellers
Brian McCulloch of Fryett Architectand Rosslyn Bentley, ExecutiveDirector of Upper Grand FamilyHealth of the new medical facility,formerly the Dalby House in Elora.
photos by Sherry Clarke
New BusinessShawn Legrow has opened Sink TheInk Tattoo & Design, at 729 TowerSt S, Fergus. Shawn may be reachedat 519. 216.3439. or visit thewebsite at www.shawnlegrow.com
New Roof AM Roofing has relocated their office, warehouse andshowroom to 515 Dickson Drive, Fergus.Phone number - 519.787.0926 and email –[email protected] remain the same.
New Move and MergerC’est Bon has moved and merged with Bailey’s Restaurant at 146 Metcafe St Elora.Anne and staff invite you drop in or call 519.846.8880 for reservations.
aboutMINDING OUR
BUSINESSMinding Our Business is a business magazinefocusing on items of interest to commercial,
retail, industrial and service businesses inCentre Wellington.
Our cover storyfocuses on the
building industry inCentre Wellington.
Pictured on ourcover is Bob Foster,
Chief BuildingOfficial for
Centre Wellington.
general policyAdvertising is accepted on the condition that, in the event oftypographical error, that portion of the advertising spaceoccupied by the erroneous item, together with a reasonableallowance for the signatures, will not be charged for, but thebalance of the advertisements will be paid for at theapplicable rate. In the event of a typographical erroradvertising goods or services at a wrong price, goods orservices may not be sold. Advertising is merely an offer to sell,and may be withdrawn at any time. Persons wishinginformation regarding circulation, rates and additional serviceare invited to contact our office for further details. Thepublisher accepts responsibility for claims and honorsagreements made by himself or by regular staff on his behalf.No responsibility is accepted for actions by person(s) not inthe employ of the paper, or otherwise over whom thePublisher has no control. All Advertising accepted is done so ingood faith. The Publisher maintains the right to approve orreject advertising and articles submitted for publication.
contactMINDING OUR
BUSINESSBox 252, Fergus, Ontario
N1M 2W8519-843-5410 telephone
519-843-7607 facsimile
March 09 | PAGE 3
THISISSUE
2 MILESTONESOpenings | Awards | Moves
4 FERGUS BIAWe’re off to the races!
5 ELORA BIAOh Canada!
6 BDCDon’t Fear Global SupplyChains
8 MANY BUILDINGPROJECTS COMING TOCENTRE WELLINGTONDavid Meyer
THE CHAMBER PAGES10 On the Web:
All you have to do is ask.
Chamber Calendar
11 Meet the Members:SHAW MUSIC
12 TRACY GROUPBENEFITS:Prescription Drugs inEmployee Benefits
13 CNW GROUP LTD.Recession Lessons
14 EDCThe Creative Economy inCentre Wellington
15 CONTACT LISTING &BUSINESS DIRECTORY
COVER
The Fergus BIA
We�re off to the races ...
Ladies and Gentlemen, another round of great spring time events is about to happen.Fergus is the centre of the universe - for your shopping, culinary, business and entertainment needs.Fergus is the ideal place to live work and play - mark your calendars NOW!
Murder on the NileMarch 26th - 28th At Fergus Grand TheatreAgatha Christie�s classic suspense, presented by Vision Productions. Three performances starting at 8PMcall (519) 787-1981for information and tickets
The BIA�s 3rd annualFashion ExtravaganzaApril 8th at 7PMAt Fergus Grand Theatreand for all you fans,ELVIS is in the building!�It�s now or never� get in style with the newest Spring Fashions the world has to offer - provided by
Broderick�s Fashion for Women, Special Effects & Broderick�s Apparel for Men. Entertainment provided by “Elvis” (Peter Schofield) and The Shaw Family. Decor by Abby Rose Floral Boutique. Proceeds to Camp Freedom (a children�s camp for the visually impaired). Tickets $12.00 at the BIA office, The Grand Theatre, Broderick�s and Special Effects & Shaw Music.Call (519)787-1384 for information.
Downtown FergusArt Walk and Folk FestJune 20th - from 10 AM untill 9PM. St Andrew Street, Templin Gardens, and The Fergus Market. Music, Art, Entertainment. Food, - a delight for all your senses. A great, free of charge family event, and it�s just before Fathers Day, so bring him down, and find him a special Fathers Day gift. You�ll be sure to find it in Downtown Fergus.Call (519)787-1384 for information.
THE CENTRE OF
YOUR
COMMUNITY
PAGE 4 | March 09
March 09 | PAGE 5
Good news seems hard to comeby these days.
Wherever I go looking for mydaily dose of current events –CBC Radio One, The Globe and Mail,Maclean’s – it seems thateveryone is playing the sametune, and it goes something likethis:
The global economy is in themidst of a deep recession.
The Canadian economy is,likewise, in the midst of a terribleeconomic crisis.
Your business – whether yourealize it or not – has alreadysuffered (or is likely to sufferwithin the next ten minutes) anumber of tremendous setbacks.
You were born greedy, you’vealways been greedy and nowyou’re getting what you deserve.
Sometimes that song goes on fordays without interruption, and Ifind myself starting to believe it.
But then, every once in a while,and often from an unlikelysource, a little sun shines through.Having caught a ray or two myselftoday from south of the border, Ithought I’d pass these good vibesalong.
Fareed Zakaria is the editor ofthe American magazineNewsweek and a regular guest onThe Daily Show with Jon Stewart.He’s also one of the mostrespected journalists in NorthAmerica. Reprinted in its entiretyfor your amusement andedification is an article of his thatappeared in Newsweek onFebruary 16.
Buck up Canada: looks like thingsmight not be so bad after all.
WORTHWHILE CANADIANINITIATIVE
Canadian banks are typicallyleveraged at 18 to 1- comparedwith U.S. banks at 26 to 1.
The legendary editor of The NewRepublic, Michael Kinsley, onceheld a "Boring Headline Contest"and decided that the winner was"Worthwhile Canadian Initiative."
Twenty-two years later, themagazine was rescued from its
economic troubles by a Canadianmedia company, which shouldhave taught us Americans to be abit more humble. Now there iseven more striking evidence ofCanada's virtues. Guess whichcountry, alone in theindustrialized world, has notfaced a single bank failure, callsfor bailouts or governmentintervention in the financial ormortgage sectors.
Yup, it's Canada. In 2008, theWorld Economic Forum rankedCanada's banking system thehealthiest in the world. America'sranked 40th, Britain's 44th.
Canada has done more thansurvive this financial crisis. Thecountry is positively thriving in it.
Canadian banks are wellcapitalized and poised to takeadvantage of opportunities thatAmerican and European bankscannot seize. The TorontoDominion Bank, for example, wasthe 15th-largest bank in NorthAmerica one year ago. Now it isthe fifth-largest (and the Royal iseven bigger). It hasn't grown insize; the others have all shrunk.
So what accounts for the geniusof the Canadians? Commonsense. Over the past 15 years, asthe United States and Europeloosened regulations on theirfinancial industries, the Canadiansrefused to follow suit, seeing theold rules as useful shockabsorbers. Canadian banks aretypically leveraged at 18 to 1compared with U.S. banks at 26to 1 and European banks at afrightening 61 to 1. Partly thisreflects Canada's more risk-averse business culture, but it isalso a product of old-fashionedrules on banking.
Canada has also been shieldedfrom the worst aspects of thiscrisis because its housing priceshave not fluctuated as wildly asthose in the United States.Home prices are down 25percent in the United States, butonly half as much in Canada.Why? Well, the Canadian taxcode does not provide themassive incentive for over-consumption that the U.S. codedoes: interest on your mortgage
isn't deductible up north. Inaddition, home loans in theUnited States are "non-recourse," which basically meansthat if you go belly up on a badmortgage, it's mostly the bank'sproblem. In Canada, it's yours. Ah,but you've heard Americanpoliticians wax eloquent on theneed for these expensiveprograms - interest deductibilityalone costs the federalgovernment $100 billion a yearbecause they allow the averageJoe to fulfill the American Dreamof owning a home. Sixty-eightpercent of Americans own theirown homes. And the rate ofCanadian home ownership? It's68.4 percent.
Canada has been remarkablyresponsible over the past decadeor so. It has had 12 years ofbudget surpluses, and can nowspend money to fuel a recoveryfrom a strong position. Thegovernment has restructured thenational pension system, placingit on a firm fiscal footing, unlikeour own insolvent Social Security.Its health-care system is cheaperthan America's by far (accountingfor 9.7 percent of GDP, versus15.2 percent here), and yet doesbetter on all major indexes. Lifeexpectancy in Canada is 81 years,versus 78 in the United States;"healthy life expectancy" is 72years, versus 69. American carcompanies have moved so manyjobs to Canada to take advantageof lower health-care costs thatsince 2004, Ontario and notMichigan has been NorthAmerica's largest car-producingregion.
I could go on. The U.S. currentlyhas a brain-dead immigrationsystem. We issue a small numberof work visas and green cards,turning away from our shoresthousands of talented studentswho want to stay and work here.Canada, by contrast, has no limiton the number of skilled migrantswho can move to the country.They can apply on their own fora Canadian Skilled Worker Visa,which allows them to becomeperfectly legal "permanentresidents" in Canada - no needfor a sponsoring employer, oreven a job. Visas are awarded
based on education level, workexperience, age and languageabilities. If a prospectiveimmigrant earns 67 points out of100 total (holding a Ph.D. isworth 25 points, for instance), heor she can become a full-time,legal resident of Canada.
Companies are noticing. In 2007Microsoft, frustrated by itsinability to hire foreign graduatestudents in the United States,decided to open a researchcenter in Vancouver. Thecompany's announcement notedthat it would staff the center with"highly skilled people affected byimmigration issues in the U.S."So the brightest Chinese andIndian software engineers areattracted to the United States,trained by American universities,then thrown out of the countryand picked up by Canada - wheremost of them will work, innovateand pay taxes for the rest of theirlives.
If President Obama is looking forsmart government, there is muchhe, and all of us, could learn fromour quiet - OK, sometimesboring - neighbor to the north.Meanwhile, in the councils of thefinancial world, Canada is pushingfor new rules for financialinstitutions that would reflect itsapproach. This strikes me as, well,a worthwhile Canadian initiative.
OH CANADA!
Tim Horton
Elora BIA
PAGE 6 | March 09
DOING NOTHING IS A FARGREATER THREAT
Globalization isn’t just a big corporationgame anymore. Whether you employ50,000 or 50, the market potential foryour product or service is no longerlimited to Canada or the United States.
Many companies are looking beyondtheir traditional markets and discoveringnew opportunities – and profits – byfocusing on what they do best, and bybringing value to global supply chains.This could include outsourcingmanufacturing to countries with a lowercost base, while focusing your coreoperations on high-value componentssuch as innovation and design.
Unfortunately, too many smallcompanies stick with the status quo, and
that’s a very vulnerable place to be,warns Jean-René Halde, president of theBusiness Development Bank (BDC) ofCanada.
“To think you can carry on business asusual in today’s global marketplace is avery large assumption to make. Smallcompanies no longer have a choice –they have to start paying attention tosupply chain opportunities,” he says.Often, the biggest hurdle entrepreneursface is their own lack of comprehensionabout the current status of their marketand the changes taking place in thatmarket, adds Halde. The first and mostdifficult step is taking time to explorethe opportunities. It’s important toknow where you stand when it comesto global supply chains.
“Understand what you’re trying toachieve, know where you’re weak, whereyou’re strong and then figure out howyou can be better at what you do,” heexplains.
LOOKING BEYOND CANADA
Not all companies start out with aninternational focus. AGF Steel Inc. hasspent most of its 60-year historyfocusing exclusively on the Canadianmarket. The company, which hasoperations in three provinces, becameglobally renowned as a designer andinstaller of reinforced steel fromdecades of working on largeinfrastructure projects in Canada,including the St. Lawrence Seaway andHibernia. It is now exporting that know-how to the Middle East and otherregions of the world.
DON’T FEARGLOBAL SUPPLY
CHAINS ...BDC
BUSINESSDEVELOPMENT
BANK OF CANADA
BDC(Business Development
Bank of Canada)519.571.6680Don Cubbidge
the Food Bankin delivering our service.
Visits to the Food Bank have increasedPlease donate food to help fill theneeds within the Community.
Tax receipts will be provided for financial donations
Joinwe require donations year round!
170 St. Andrew St. E. Fergus | N1M 2W8 519-787-1401 email: [email protected]
www.cwfoodbank.org
AGF began purchasing reinforced steeland welded wire mesh materials frominternational suppliers just a decade ago.Those suppliers may be from Turkey,China or Brazil – depending on the natureof the job, the quantity of materialsrequired, terms of payment and the price.
“Our suppliers change all the time. It’s anever ending journey for us,” says SergeGendron, president of AGF, which hasoperations in Dubai, Abu Dhabi and theCaribbean.
Sourcing materials from global suppliersdidn’t come naturally at first for AGF.Gendron says there was concern withinhis own company, and among theircustomers, that anything fabricatedoutside of Canada would be of inferiorquality.
“And that’s just not the case,” he explains.“Not only could the price be interesting,but sometimes the quality is even better.”
BE AWARE OF THE CHALLENGES
While there are more opportunities thanever for small businesses to takeadvantage of global supply chains,competition is fierce and they need tokeep close tabs on what other companiesare doing. Large corporations, forexample, routinely source globally, sobusinesses should expect to compete notonly on price, but quality and reliability ofdelivery as well as design and engineering.Delays in shipping, substandard materialsor glitches with IT can lead to highercosts and tarnish your reputation withyour customers.
“If you’re doing business on an extendedbasis around the world, it’s important tobe able to manage the quality of yoursuppliers,” says Jayson Myers, president ofthe Canadian Manufacturers andExporters.
Similarly, it’s critical to always know whereyour company fits within a supply chain.It’s not enough to have currentinformation on your customers andsuppliers, but on their customers and
suppliers as well. If one link in the chainchanges, it could have a devastating rippleeffect on your business.
Flexibility is the name of the game whenit comes to supply chains. The globaleconomy is constantly in flux, which putspressure on companies to respondquickly when circumstances change.China may be one of the hottestoutsourcing markets for now, but thatcould change as a result of high fuel costs,a strengthening Chinese currency, risingwages and the removal of some exporttax credits.
“Companies that are operating on aglobal basis have to remain very flexibleand manage these changes on an ongoingbasis,” says Myers. “There’s no silver bulletfor companies that think they’re going toreduce costs simply by outsourcing toChina.”
Those changes could also mean movingoperations to another country.Increasingly, large corporations aredemanding that their suppliers move withthem when they open new productionfacilities abroad.
Lastly, Myers recommends changing howyou view and market your company –from one that provides a specific productor service to one that delivers solutions.
“The core value of your product may notbe the product itself, but the technology,knowledge or service that is embodied inyour product. You don’t want tooutsource the core value of your businessto other companies. I see that mistake alot.”
March 09 | PAGE 7
SherryClarkeDISPLAYAD SALES
BUSINESSM I N D I N G O U R
call to reserve your ad space!
[email protected] Gartshore St., Fergus
PAGE 10 | March 09
the chamberOF COMMERCE
UPCOMING EVENTS
NETWORKING BREAKFASTSWednesday, March 25, 2009
between 7:30-9:00 AM at Elora Mill Inn.Janet Harrop will speak on the Agricultural
business in Centre Wellington.Wednesday, April 29th, 2009
between 7:30-9:00 AM at JJ’s Family Dining.Kevin Coghill will be speaking about
The Door Youth Centre.Cost is $15 for Members
and $20 for Future Members. RSVP to [email protected]
or 519-843-5140
BUSINESS AFTER HOURSWednesday, March 28th, 2009
starting at 5:30 PM. Our host will be A.O.Smith-GSW. RSVP to 519-787-5536 or
email [email protected]
Awards of ExcellenceThe Deadline to submit Nomination forms
is Friday, March 6th at 4 PM! Get your nominations in now so you won’t
be disappointed that someone who youthink is an EXCELLENT candidate didn’t
win. Nomination forms are available at theChamber office or online at
www.cwchamber.ca
Call to book your seat or table today forAwards of Excellence Gala evening…
Centre Wellington –Arrghhh! It’s a Treasure
Thursday, April 23rd at the Community Sportsplex.
Events to mark on your calendar…
May 20th, 2009 –Breakfast with Michael Chong, MPMay 27th, 2009 – CW Chamber ofCommerce AGM Breakfast meeting
October 7th, 2009 – Business LuncheonOctober 21st, 2009 –
2nd Annual Table Top Trade Show
ChamberCalendar
ON THE WEB
ALL YOU HAVE TO DO IS ASK…
Starting a website is usually no easy task.There are many things to consider, like:
• What should the design look like?
• Which images should be included?
• Do I already have a good logo, or is this the time to revisit my corporateidentity?
• What should I be writing about?
Many people get a headache justimagining thinking about all of this. Butyou reap what you sow; without thinkingthese matters through, you can onlyexpect your website to exist – not toperform. Asking a friend or family member forhelp is always a good idea, as you expandyour horizons a little bit. Getting inputfrom a professional web developer isvery valuable as well; he or she will beable to help you organize your thoughtsand develop a site structure that works. One area where professional feedbackcan be of even greater value is in “Callto action”. What does this mean? I havebeen on many pages where I wonderedwhat the site owners wanted me to do.Or even worse: I did not wonder aboutanything at all, and just left – confused.
The fact that I have to ask myself “OK,what next?” means that the site ownerdid not put enough thought into his orher site. Because if the content of a siteis not obvious and effortless, I’m out ofthere; to see if the next website is morecustomer-oriented. Do your pages have an invitation for thevisitor to act, like “Subscribe To OurNewsletter,”, “Add To Cart” or even justa “Contact Us Today?” Without theseclear calls to action, many visitors willjust click around your site aimlessly –and leave.
A FEW TIPS:
• Many call to action items are rectangular buttons; people expect them.
• Make those buttons stand out, so people see them immediately when scanning the page.
• Orange seems to be the best colour for those buttons, with red or yellowas second best.
• Send a clear message with your buttons. So, not the ambiguous “Clickhere” (just the phrase “click here” does not indicate why people have toclick), but something targeted like “Get Your Free Whitepaper,”, “Ask ForYour Free Quote” or “Enroll Now!”
• Don’t just place the buttons near theend of the page, but also “above the fold.”
Want your visitors to do something onyour site? All you have to do is ask…
For more information: contactNardo Kuitert
at [email protected] 519-787-7612.
NARDOKUITERT
March 09 | PAGE 11
the chamberOF COMMERCE
MEETTHE MEMBERSSHAW MUSIC
It has been almost three years since theShaw Family took over the downtownFergus music store from Nicholson’s. Adamand colleague Jane Glazier worked atNicholson’s for many years so they werenot strangers to this business. “I only knowtwo things: how to play instruments andhow to cook – and I did not want to workin a restaurant.” Adam quips. Adam and hismother not only teach musical instruments,they also do the purchasing, accountsreceivables and payables, customer serviceand some repairs. But they would not beable to do it all by themselves, so they reallyappreciate their excellent teaching staff andthe many hours that Jane Glazier spendshelping in the store.
The new management more than doubledthe items they had in stock, lowered theprices and changed the name to ShawMusic. The business picked up dramatically.
Shaw Music sells and repairs instrumentsand provides quality musical instruction tostudents of all ages. They are also availablefor in-home lessons. About the onlyinstrument they do not teach in-house isthe banjo, but they will happily refer you toa local private teacher.
Shaw Music offers lessons in piano, guitar,bass, drums, vocals, violin, cello, ukulele,flute, clarinet and theory. “You really needlessons. Playing a guitar is a little moredifficult than playing Guitar Hero,” Adamsays. He does think however, that videogames like Guitar Hero have sparked a newinterest in playing real instruments withtoday’s youth.
This spike in interest might be attributed toa number of other factors besides music invideo games. There is also the wideravailability of independent music on theinternet and the therapeutic music linkedto alternative health practices. As anexample of increased interest intherapeutic music Jane mentions the sharpincrease in the number of femaledrummers. Drumming circles and otheralternative influences are being credited forthat.
It is not just the youth that has picked upmore instruments, though. A good 20% ofmusic students are adults – many ofthem are retirees. You are never tooold to learn how to play aninstrument. Most popularinstruments in this group arepiano, guitar and violin.
Every year Shaw Musicorganizes a recital in whichtheir students get a chanceto play for an audience.Last year this event washeld in Grand Valley andover the course of twodays about 80 studentsperformed. But this is notthe only event with livemusic they manage. Once ayear they organize a fundraiserto support Camp Freedom, asummer camp teaching life skills tovisually challenged youths. They alsoconnect many local musicians with localbars and restaurants that offer live music.
“There is a lot more live music these days,”Adam says, “and more kids are in bands; theCentre Wellington High School hasprobably five to six bands and manyfolk/indie bands use non-traditionalinstruments, like mandolins and violins.”
Shaw Music has its roots in Fergus, andsupporting local schools and minor hockeyonly seems natural. The Shaw family alsostarted a trust fund for neighbour PeterChang when the owner of the GoldenDragon restaurant was unable to work dueto an accident. “You help your neighbour,right?” Adam said.
“The Centre Wellington Chamber ofCommerce has many benefits; this is whywe are a member,” Adam says. “You getgood rates for the debit machine, there aregreat events like the breakfast meetings andyou can save money on all kinds of deals.And saving money is always a good thing,especially in these economic volatile times.” During the winter months businessnormally slows down at Shaw’s. “It is thetime that our service has to be up to par”,according to Adam. He reminds people
their instruments need servicing orexplains coated strings may be a little moreexpensive, but last much longer and savemoney in the long run.
Good advice like this is appreciated a lot,and fosters word-of-mouth advertising.And since Fergus is a bedroom communityShaw Music stays open late, usually until8:30-9:00. “It would be nice to see moreretail stores downtown,” Adam says. “Itwould facilitate more local buying, whichkeeps more money in our own community.”
If you want to learn how to play aninstrument, need sheet music for thosewicked AC/DC songs or a new cover foryour keyboard you can contact Adam Shawat 519-787-5487 or visit the website atwww.shawmusic.ca.
PAGE 12 | March 09
Barney TracyCFP, FLMI
PRESCRIPTION DRUGSIN EMPLOYEE BENEFITS
Whenever we get into a discussion about thecost of prescription drugs the finger getspointed at every stakeholder in the process –governments set the rules for everyone else inthe game, pharmaceutical companies chargeexorbitant prices, doctors prescribe too much,pharmacy dispensing fees are too high, andpatients want a quick fix to their ailment. Thesolution involves all the aforementioned playersin this process.
We can start with the pharmaceuticalcompanies. They bear tremendous research anddevelopment costs and deserve, as commercialbusinesses, to earn back their costs. Whenevera new drug is released for public consumption,we never hear about the many that didn’t makeit, and the developer wants their money backone way or the other. Generic drugs were onceseen as a solution, but the rules by which theyplay their role are prescribed by thegovernment. They have been fighting to get intothe market sooner, but patent rules prohibitthem from making a new drug for years after itis first released in its brand name form.
Physicians have the finger pointed at them forwanting to prescribe the latest and greatestdrugs, but who can blame them? New drugsoften have fewer side effects than the older onesthey replace, but they are more expensive.Patients often go to see their doctor and don’tfeel they’ve been “treated” unless they get someform of action – and a new prescription fills thatneed.
Like most of the people reading this piece, thepharmacies are in business to make money.They charge a dispensing fee to cover the cost
of the advice you receive when you get a newprescription. Often it will be your pharmacistwho knows that drug A and drug B don’t reactwell to each other, so they are providing a vitalrole in the process.
Governments create the rules with which all theplayers participate – the length of patentprotection for a new drug, how much thedoctor gets paid for your visit to their office,rules around which drug gets dispensed by thepharmacist, etc. So they share the blame for theamount we spend on prescription drugs.
Lastly, and by no means least, is the role playedby us – the consumer of these new miracles ofmedicine. A Health Canada report showed that70 per cent of healthcare costs in Canada werefor lifestyle-related chronic conditions. A surveydone by one company in the business showedthat the top five drug classes in terms ofexpense were to treat cholesterol, bloodpressure, ulcers, depression and diabetes. Giventhis information, we can see that if we led ahealthier lifestyle we would reduce ourdependence on prescription drugs.
Premiums for extended health plans are wherethey are because about 75 percent of the claimsreceived by insurers are for prescriptions.Rather than restricting which drugs an employeebenefit plan will cover, should employers belooking to implement healthy lifestyle programsfor their employees? Food for thought.
Barney Tracy is a broker in the fields of groupbenefits, life and disability insurance. He can bereached at [email protected] or (519)820 1283.
TracyGROUP
BENEFITS
While you’re looking after business,who’s looking after you?
Barney Tracy, CFP, FLMIPh: (519) 820 1283e-mail: [email protected]
March 09 | PAGE 13
RECESSION LESSONSCAREER EXPERT IDENTIFIES MOST
COMMON MANAGEMENT MISTAKESMADE IN DIFFICULT ECONOMY
Managing employees is never easy, but itposes a particular challenge when timesare lean and the economy is uncertain.While some of the obstacles businessesare grappling with may be new, thestrategies they can use to fosterteamwork in a troubled economy are not,according to specialized staffing serviceRobert Half International.
The firm's just-released guide, The 30Most Common Mistakes Managers Make inan Uncertain Economy, outlines prevalentpitfalls and how to avoid them.
"With increased business pressures in anuncertain economy, supervisors are oftenrequired to accomplish more with fewerresources," said Mike Gooley, branchmanager of Robert Half International'sToronto operations. "By learning from thestrategies managers have employed inpast downturns - both those that workedwell and those that did not - companieswill be better prepared for when theeconomy eventually rebounds."
Following are seven of the most prevalentmistakes managers make in a downturnand how to avoid them, according toRobert Half:
1. Thinking your staff can't handle thetruth. If you haven't before, now is thetime to treat employees like businesspartners. Talking openly about the effectof the downturn on your firm can helpstaff members feel they have somemeasure of control. Discuss issues thatarose during the last business slowdown.How did things turn around? What waslearned from that experience?
2. Blaming those at the top. If you're amiddle manager who has to deliver badnews, you may be inclined to tellemployees that you would have donethings differently, but the choice wasn'tyours. While this may temporarily takethe heat off of you, it sends the messagethat you are out of sync with thecompany's leaders, which may bedisconcerting to staff. Instead, presentchanges and the reasons behind them,
including how your firm will persevere.
3. Feeling people are lucky just to have ajob. It may be true that many employeesfeel fortunate to have a stable position,but this doesn't mean managers canignore staff members' desire for positiverecognition and career support. Topperformers, in particular, require extraattention; not only are their contributionsespecially critical now, but they are alwaysattractive targets for competitors.
4. Not asking for employees' help inexpanding client relationships. Ask staffmembers to think about things they cando to help achieve business goals withoutsacrificing productivity. You may bepleased to discover how resourceful theyare. When appropriate, involve your teamin efforts to generate new business. Thiscan mean expanding relationships withexisting clients as well as identifying andpursuing new prospects.
5. Making work "mission impossible."Hiring freezes and tighter budgets maymean that one person is doing the workof two or more people. If this is the case,help your employees identify whichprojects are mission-critical. Delegateremaining tasks, bringing in temporaryprofessionals if necessary, or put theseitems on hold. This will help you avoidoverwhelming your staff.
6. Shifting the focus from the front lines.Client service matters even more whentimes are tough. Are you doing everythingpossible to make sure your front-lineprofessionals have the right attitude andsend the right messages? If theseemployees come across as indifferent orinexperienced, you could lose bothprospective and existing customers.
7. Waiting to try new things. Even inuncertain times, playing it safe canbackfire. If you have a promising newservice offering or client niche you wantto pursue, don't wait for a turnaround toact. By taking well-calculated risks, you canget a jump on competitors and possiblycarve out an additional revenue stream.
Robert Half International, www.rhi.com,has more than 360 staffing locationsworldwide. Readers can learn moreabout The 30 Most Common MistakesManagers Make in an Uncertain Economyand request a free copy of the guide atwww.rhi.com/30Mistakes.
From theNewswire
You hear it every day in themedia: we are in a recession.These days are said to be thebeginning of the worsteconomic crisis since WorldWar Two. Experts predictedthis crisis, but they have alsoprovided the solution. Doomand gloom might beswallowing the world, butcreativity is the solution. Youare living in a community thathas the potential to embracethe future with creativesolutions based on a dynamiccombination of skilled labour,ingenuity, the incrediblegrowth potential here and thegeographical location toOntario’s urban corridorfrom Ottawa to Windsor.
In the February 2009 MartinProsperity Report, Ontario inthe Creative Age, authorsRoger Martin and RichardFlorida outline our province’sopportunities in this, thecreative age. Through theirresearch, Martin and Floridabelieve the current globaleconomic crisis has increasedthe importance of Ontario’sposition as a leader in theknowledge or idea-drivencreative economy. Whilegovernments support aprotectionist stance ofcorporate bailouts and pastpreservation, they are onlydelaying the inevitable.
According to their research,our future success dependson our ability to build acreative economy that ismore technologicallyadvanced, inclusive andsustainable. To make thathappen, we must invest in ourpeople, our businesses, ourinstitutions and infrastructure.A focus on productive andfuture-oriented investment isthe key to generating long-term prosperity. People are our greatestresource. Their creativity,innovativeness and talents willenable business and industryto grow with our provincialculture of openness, toleranceand diversity, to gain aneconomic advantage. Ours isa job climate that is shiftingfrom physical skills andrepetitive tasks to requiringanalytical skills and goodjudgment. We need tocompete on a level ofcreativity and distinctiveness.It’s about taking a high-roadfor today and equally asimportant, for futuregenerations tomorrow.
Centre Wellington has thepotential to be a hub of thiscreative movement. In fact, inCentre Wellington’s twolargest industries, like A.O.Smith (GSW), the engineeringteam has made incrediblestrides in their productionand designs by using theircreativity; and Jefferson Elorahas built their business oncreative solutions andproduction techniques thathave made them competitivein a very tough marketplace.While they are the largest,many of our businessoperations rely on theircreativity to survive andthrive. We also know fromcensus information that we
export from the townshipseveral thousand people a daythat already work in creativeindustries or creativeoccupations.
Geographically, we are withinthirty minutes of three of themost innovative universities inthe country for business,agriculture and technology,not to mention other stellarprograms. Our link to regionalcolleges is equally impressive,with a graduating populationof skilled workers. TheKitchener-Waterloo -Cambridge - Guelph regionhas been identified as one ofthe three key areas in theprovince because of itstechnology sector andresearch/post-secondaryinstitutions. The talent base ishere. Our ability to keep ithere and capitalize on thoseskill-sets makes us a greatlocation for future growth.But it is more than that.Martin and Florida talk aboutthe need to develop andconnect a mega-region inOntario – a region thatstretches the corridor fromOttawa to Toronto, to theGolden Horseshoe throughto Windsor – including themunicipalities and smallercities that provide theemployment bases. Throughgeographic clustering andconcentration of skills andindustry, it is the challenge forOntario to build theinfrastructure that connectsbusiness and people from theoutside to this mega-region. InCentre Wellington, we are ina prime place to be involvedin the growth of this density.
The off-shoots of taking sucha bold step include increasedsocial cohesiveness, creating asocial safety net that
encourages family supportand community services toensure a quality of lifecomponent, and in CentreWellington, we are well onour way to encouraging thisgrowth for the betterment ofus all.
To quote Martin and Florida,“Economic transformations,like the current one, areopportunities for jurisdictionsto change the terms ofprosperity and competition.Ontario is well-positioned tocompete in the global creativeeconomy. The currenteconomic crisis provides aonce in a lifetime opportunityto leapfrog the competitionand to gain significant first-mover advantage. By takingbold action now, Ontario cansimultaneously remake itseconomy for the future,improve its position in globalcompetition and ensure ahigher level of prosperity forits citizens.”
This is how we need to seeour future in CentreWellington. We have thepotential to grow in a creativeeconomy and in many ways,we already have. In thechallenges present today,there is the potential forpositive change if we see thelight beyond the crisis. To dothat, we have to think outsidethe box. We have to becreative. We can do that. Incoming months, you will hearabout a new eco-friendlyoffice park that will be hometo many of our creativeminds.
For more information on theMartin Prosperity Institute’s
Ontario in theCreative Age visit
www.martinprosperity.org.
PAGE 14 | March 09
THE CREATIVE ECONOMYIN CENTRE WELLINGTONeconomic
DEVELOPMENT
Dave Rushton
March 09 | PAGE 15
CONTACT LISTINGMinistry of Labour
www.employeradviser.caWCB - 1.800.387.0774
Employment Standards 1.800.531.5551
Ontario Government www.gov.on.ca
Revenue Canada www.cra-arc.gc.ca
Service Canadawww.servicecanada.gc.ca
Township of Centre Wellington 519.846.9691
www.centrewellington.ca
WCB1.800.387.0774
www.employeradviser.ca
Waterloo-Wellington M.P.P. 519.787.5247Ted Arnott
Wellington - Halton Hills M.P. 519.843.7344
1-866-878-5556Michael Chong
The Centre WellingtonChamber of Commerce
Phone: 519.843.5140E-mail: [email protected]
BDC (Business Development Bank of Canada)519.571.6680Don Cubbidge
Elora BIA519.846.2563
Esther Farrell [email protected]
Fergus BIA519-787-1384
Centre Wellington Economic Development519.846.0971Dave Rushton
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