Canada needs another buzz word to further the work by governments, industry and academia to build the nation’s resources for the New Economy. Productivity was the popular catch word a couple of years back, only to be replaced by innovation, which has helped galvanize the thinking of those in sectors with disparate motives. New human capital is the new catch phrase that’s emerging as the rallying cry for those seeking to ensure an adequate supply of skilled workers.
Human capital is highlighted in the efforts of the Canadian Federation of Business School Deans to convince governments that more funding is required to fill the management gap that’s gained so much attention in recent months (see lead story). And it will be prominently featured in the rhetoric of other groups seeking solutions to the challenges facing Canada in the coming years.
It’s no secret that the university system is under severe financial strain as it copes with new demands coupled with funding cutbacks and an evolving culture. The area where these institutions require the most assistance is in the area of operating funds. More money to operate universities will translate into more professors and student spaces, and a greater ability to cover the overhead costs associated with research.
Whether the sector is business administration, microelectronics, information and communications technology or health services, it all boils down to the quality and quantity of human capital. Both the federal and provincial governments must now make it one of their highest priorities.
Mark Henderson, Managing Editor
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