Welcome to 3 Key Charts, a weekly department in which we explain the graphs, maps, tables and diagrams that you must understand to guard and grow your business. The diagrams and graphics displayed below could help you discover a new opportunity, alert you to an impending risk, or teach you how to be a better manager.
In this instalment, we look at how workers regain concentration during the workday, the impact on businesses of changes to the Temporary Foreign Worker Program, and the countries with the fastest-growing populations of one-percenters.
¢ ¢ ¢ ¢ ¢
Reset your focus
Where it’s from: “Smart Business, Smart Surroundings” by Regus.
What it shows: The tactics used by surveyed workers to regain concentration during the workday. Breaking for a drink was the most popular technique for reseting respondents’ focus (28%) followed by taking a brief walk (24%) and switching tasks.
Why it matters: Constantly on the hunt for ways to increase your employees’ productivity? Enabling some of these focus-restoring activities might help you get more out of your workers. Workday disruptions are inevitable, so facilitating a return to concentration is the best way to keep your staff on track. Consider investing in a coffee machine or finding an office with an indoor courtyard where employees can go for a stroll.
MORE CONCENTRATION: Why Modern Offices Need More Privacy »
¢ ¢ ¢ ¢ ¢
The west has a labour problem
Where it’s from: “Work interrupted: How federal foreign worker rule changes hurt the West” by the Canada West Foundation.
What it shows: The number of unemployed people to job vacancies for Canadian provinces and territories. Western provinces have the lowest number of job-seekers per opening. The Foundation’s report says that changes to the Temporary Foreign Worker (TWF) Program made by the federal government will have an outsize impact on businesses in the western Canadian provinces. The chief reason for these disproportionate consequences is the relatively low unemployment rate in Alberta, Saskatchewan, Manitoba and British Columbia. The maximum number of TFWs a business can hire is pegged to the number of Canadians in the its workforce (no more than 20% from July 2015 and no more than 10% from July 2016), so if a company can’t find enough domestic workers to fill its openings, it won’t be able to parachute in TFWs instead.
Why it matters: Finding qualified or willing workers to fill job vacancies at your firm is always difficult. If you operate in one of the western provinces, it’s about to get even harder. Businesses that rely on TFWs are set to lose a significant chunk of their workforces, and will have to look for more Canadians to help their foreign-domestic ratios as well as to fill jobs that were formerly occupied for temporary workers. That means increased competition for Canadian workers, whether or not you employ TFWs. Businesses that have existing openings or anticipate future vacancies might want to do their hiring early, before the changes come into force and the talent bidding wars begin.
MORE TFWS: The Real Price of Foreign Labour »
¢ ¢ ¢ ¢ ¢
The nouveau riche
Where it’s from: “The Wealth Report 2015: The global perspective on prime property and wealth” by Knight Frank.
What it shows: The countries that have saw the biggest increases in the number of ultra-high net-worth individuals (UHNWIs)—someone with more than US$30 million in assets—in 2014. The European principality of Monaco tops the list, which is otherwise dominated by Asian and African countries.
Why it matters: While North America (44,922 UHNWIs) and Europe (60,565 UHNWIs) still dominate the ranks of the world’s super-rich, emerging economies are adding their own one-percenters at a steady clip. The countries named in the graph totalled 13,029 UNHWIs in 2014, with over half of those located in China alone. That’s less than a tenth of the global UNHWI population (172,850), but thrice the number in Canada (13,029). So if you’re in the luxury goods or services businesses, these are the markets you need to be looking at for sales growth. Especially worth considering are small-geography countries with outsized fat cat populations—Hong Kong (2,690 UNHWIs) is particularly promising.
MORE LUXURY: Where Are Canada’s Wealthiest Neighbourhoods? »
¢ ¢ ¢ ¢ ¢
What conclusions do you draw from these charts? Let us know using the comments section below.