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NEWS RELEASE Canada’s bio-economy growing but at risk, study finds June 26, 2008 (Ottawa) – Canada’s biotechnology sector is strong and growing, but immediate skills shortages threaten its sustainability as an important emerging platform of Canada’s economy. A ground-breaking new study released today by BioTalent Canada reveals enormous growth in the sector over the past two decades, with small well-established employers as the backbone. However, biotechnology companies are struggling with a void of required skills within the current workforce, and new employees entering the sector who aren’t job-ready. With more than 77 percent growth since 1988, Canada’s bio-economy has become a well-established sector, operating in every region of the country, and in a vast cross-section of industries—from agriculture, to health, to the environment, to bio-energy. “The breadth and depth of this sector is now, for the first time ever, truly apparent,” said Colette Rivet, Executive Director of BioTalent Canada. “Biotechnology is strong, it’s growing and it’s everywhere.” However, Splicing the data: The critical role of human resources in Canada’s bio-economy, brings to light the significant human resource challenges that continue to be the biggest hurdle for employers—a reality that is having a growing impact on the sector’s ability to stay ahead of the curve. The study of the biotechnology industry labour market reveals that 35 per cent of employers surveyed face recruitment and retention challenges and 34 per cent are dealing with skills shortages. “This study triggers some alarms,” said Rivet. “People and their skills are the key, and we need to work together on these human resource issues to strengthen the sector’s viability.” The study makes clear that stakeholders—governments, associations, educational institutions and industry—must understand and prioritize human resources. This not only involves direct investment in HR to attract job-ready employees, but also investing money in companies themselves. Companies need capital to deepen their HR capacity. However, investors are hesitant with companies that don’t have the talent already in place. As well, educational institutions should be ready to update their curriculum to produce more job-ready graduates. BioTalent Canada is leveraging its unique position as a facilitator between industry, government, educational institutions and the biotechnology workforce. It is working to connect job seekers and employers and help companies improve their HR practices so they can better acquire and retain skilled staff. About BioTalent Canada BioTalent Canada is Canada’s leading source for human resource information and biotechnology skills development. BioTalent Canada’s research, reports, courses, employment bank, and programs promote careers, assist companies with human resource issues, and encourage continuing education within the industry. This project is funded by the Government of Canada's Sector Council Program. – 30 – For more information please contact: Kelly Goulet-Lewis Blueprint Public Relations Ph : 613-237-7400 ext. 22 Cell: 613-769-3411 kelly@blueprintpr.ca Siobhan Williams BioTalent Canada Ph: 613-235-1402 ext. 229 siobhanw@biotalent.ca |
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