sounding board december 2012

By ken martin

Canada is a large trading nation. Not one single economic activity adds more to our nation’s GDP than trade, and B.C. is at the heart of it. Anchored with Canada’s second largest airport and North America’s largest export port, 175,000 jobs in British Columbia are connected to the Pacific Gateway.

The recent dialogue on trade has focused on rail, water, and road infrastructure. In the past 10 years, we have done much to add to the capacity of our ability to service overseas customers. While potash, lentils, wheat, car parts, and lumber move by truck and rail — and while energy moves through pipelines and wires — the relationships that get those contract orders filled are moved by air travel.

Over the last 50 years, Canada has embarked on a series of talks with foreign countries, negotiating airline landing rights in Canada. In exchange for those landing rights, Canadian carriers were now able to land at foreign airports. However, at the time many of those agree-ments were signed, it wasn’t con-templated that Vancouver should be included in those agreements.

As a result, our domestic car-riers have landing rights at many foreign ports of call, while some of those foreign national carriers

don’t have landing rights at Van-couver International Airport. The significance of this is our domestic carrier now has monopolistic control over certain routes leaving Vancouver to foreign ports of call and their return flights.

Beyond the obvious issue of lack of competition and the impact that has on ticket prices, flights from Europe transiting to Asia, or flights from Asia transiting to the U.S., are not choosing Van-couver as a transit hub. Instead, airlines are choosing to transition at Seattle-Tacoma International Airport (Sea-Tac).

Emirates Airlines, Qatar Airways, and numerous Chinese

carriers have requested permis-sion to land in Vancouver, yet the international agreements are not yet in place.

Further complicating matters is the requirement for transiting passengers from certain countries to have transit visas. If the final des-tination for a Chinese flight is the U.S., transiting through Vancouver becomes a hassle. Hence, carri-ers and passengers will naturally turn to Sea-Tac airport for those flights.

The impact of all of this is quite measurable. When a foreign airline adds a new route to Vancouver International Airport, it has a $200 million annual impact to the

Canadian economy. Furthermore, it’s estimated that due to the lack of competition and the result-ing increase fares that 372,000 Vancouver passengers are flying out of Bellingham International Airport each year or 62 per cent of Bellingham Airport’s traffic.

The Federal Government under Prime Minister Stephen Harper has done more on this issue for British Columbians than any other government before it. With an agreement signed with Korea recently, B.C. is seeing progress. However, more work needs to be done.

turn to page 14

The Vancouver Board of Trade is making air access one of its top public policy priorities for 2013. Every time a foreign airline adds a new route to Vancouver International Airport, it has a $200 million annual impact to the Canadian economy. Photo by Larry Goldstein.

A runway for economic growthDecember 2012 • VOLUme 52 • NUmber 9The Vancouver board of Trade is a supportive group where I am inspired and encouraged.” rain emily Zhang, pg. 5

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Historic Stock exchange redevelopment · 2

transportation 2040 · 2

Community Heroes · 3

transLink priorities · 3

Ceo’s message · 4

employee engagement · 6

the gift of giving · 9

Season’s greetings · 10-11

Salary surveys · 12

Bmo’s 125th · 14

the outlook for gold · 16

marketing trends · 17

Holiday performances · 18

european perspective · 19

THIS ISSUE

@boardoftrade

/VancouverBoardoftrade

2 Sounding Board December 2012events and speakers

Board of Trade supports redevelopment of historic Vancouver Stock Exchange

The Vancouver Board of Trade has expressed its support for the proposed redevelopment of the historic Vancouver Stock Exchange in the Centre Busines-District (CBD) of Vancouver.

In a letter to City of Vancou-ver Mayor Gregor Robertson, Board of Trade Chair Ken Martin said the proposed rezoning “will protect and enhance the com-mercial function of the CBD, including maintaining Down-town Vancouver as a leading Canadian employment centre.”

In addition, The Vancouver Board of Trade notes that the proposal is consistent with the City’s Metro Core Jobs and Economy Land Use Plan, which foresees a potential shortfall of up to five million square feet by 2030 without the rezoning contemplated by applications such as this.

In a 2011 letter to the city, The Board of Trade expressed

support for the City’s taller buildings policy, saying that “densification and provision for additional office space, in conjunction with additional residential development, is im-portant to the continued growth of the downtown peninsula.”

However, The Board added the caveat that taller buildings should be “architecturally sig-nificant” and deliver “outstand-ing architectural and heritage additions to the area.”

“The Board welcomes the heritage conservation and dedi-cation proposed for the build-ing, and we support the use of bonus density for this purpose,” wrote Martin.

“In addition, we would also like to supportively note that the proposed building will seek a LEED Platinum designation.”

For more information visit www.boardoftrade.com.

To book your Holland America Line Cruise or for more information,

call 1-877-SAIL HAL (1-877-724-5425) or your Travel Professional, or visit

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Personalized service. Sophisticated ambiance. Over 139 years of global exploration. Explore the world with Holland America Line. Choose from a wide array of artful itineraries, each designed to showcase a destination at its best. Step aboard your five-star ship complete with generous accommodations and travel effortlessly to new discoveries.

itineraries to

inspire

Ships’ Registry: The Netherlands.

events calendar updateevents calendar updateSee our full events calendar at boardoftrade.com

thursday, december 13, 2012

company of Young professionals social night: Holiday rumble at vancouver theatresports league

5:15 – 9 p.m.

Vancouver TheatreSports League — Granville Island

thursday, January 17, 2013

BMO economic Outlook Forum 2013: Fast Forward to the Future

8 a.m. – 2 p.m.

Vancouver Convention Centre — West Building

breakfast keynote

Douglas Porter, CFA, Managing Director, Deputy Chief Economist, BMO Capital Markets

panellists

The Honourable Michael de Jong, Q.C. Minister of Finance, Province of B.C.

The Honourable Pat Bell, Minister of Jobs, Tourism and Skills Training, Province of B.C.

Carole James, MLA, Victoria-Beacon Hill, Critic for Social Development

Bruce Ralston, MLA, Surrey-Whalley, Critic for Finance and Public Accountss

Title Sponsor: BMO Gold Sponsor: TELUS Community Sponsor: Pacfic Blue Cross

Friday, december 7, 2012

leadInG GeneratIOnal cHanGe: creating sustainable prosperity

11:45 a.m. – 25 p.m. Vancouver Marriott Pinnacle — Pinnacle Ballroom

Presenting Sponsors: CN, Teck Supporting Sponsors: Global Container Terminals, Odgers Berndtson

saturday, december 8, 2012

leaders of tomorrow development day: change Your Mind, change Your life: Masterful strategies for success and Happiness

7:45 a.m. – 4 p.m. Terminal City Club

Sponsor: The Terminal City Club, Ray Williams Associates

Wednesday, december 12, 2012

networking Breakfast series — Orientation and roundtable

7 – 9 a.m.

Renaissance Vancouver

Harbourside Hotel

tuesday, december 4, 2012

vancouver Board of trade Holiday lunch and Year-end Wrap up

12:15 - 2 p.m. Hyatt Regency Hotel — Regency Ballroom

panellists Frances Bula, City columnist for Vancouver Magazine, regular contributor to The Globe and Mail, commentator on CKNW and CBC

Paul Chapman, Senior News Editor, The Province newspaper

Natalie Clancy, Investigative Reporter, CBC News Vancouver

Tammy Moyer, Vancouver Anchor, News1130

moderater Iain J.S. Black, President and CEO, The Vancouver Board of Trade

Presenting Sponsor: Scotiabank

Media Partner: News1130

thursday, december 6, 2012

Members’ reception at de dutch

5 – 7 p.m. DeDutch — Vancouver Convention Centre West

Host Sponsor: DeDutch

Talk To us!

What speaker, topic or issue do you want explored? We’ll look into it. E-mail: [email protected]

register now at boardoftrade.com/events

Board gives feedback on Transportation 2040 Plan

The Vancouver Board of Trade provided comments to the City of Vancouver recently regarding the Transportation 2040 Plan.

The Board of Trade’s Re-gional Transportation Com-mittee (RTC) met several times to review the city’s plan before submitting its comments on behalf of its membership.

The Board of Trade wel-comes the opportunity to work with the city in developing and

implementing the plan. The or-ganization is very pleased with the progress that has been made with the Cycling Committee and sees an opportunity to estab-lish a similar working group to assist in the development and implementation of Transporta-tion 2040.

Visit www.boardoftrade.com to read the letter, which includes the committee’s specific com-ments on the plan’s policies and actions.

3December 2012 Sounding Board events and speakers

Celebrating our community heroes

Priorities for public transportation

By Jeff CLowerS

More than 150 people gathered at the Hyatt Regency Vancouver on Nov. 14 to recognize and honour local difference-makers at The Vancouver Board of Trade’s Com-munity Heroes’ Luncheon.

The celebratory event, which was sponsored by Rogers and ICBC, recognized individuals and organizations that have demon-strated a commitment to our com-munity, including Police Officer of the Year Sgt. Bill Rattray, Fire-fighter of the Year Jayson Shalist, Not-for-Profit Community Hero the Mainland BC Military Family Resource Centre (MFRC) and Cor-porate Community Hero London Drugs.

The event kicked off by praising the MFRC for their wide variety of charitable work, ranging from pro-grams and services for members of the Canadian Forces, to life skills workshops and family separation and reunion briefings.

Dedicated to helping the chil-dren and youth of Canadian Forces families, the organization recog-nizes the difficulties that military families face, and tries to offer a sense of normalcy in an often up-rooted life style.

The MFRC wasn’t the only orga-

nization that received recognition for its community involvement.

Following the 2011 Stanley Cup Riot, many businesses downtown chose to temporarily shut down to recover and repair the damage caused by rioters – but not London Drugs.

The organization continued with business as usual, demon-strating not only tenacity, but also

community values. In fact, London Drugs was an integral part in helping the downtown core return to normal.

As the event continued, the focus shifted to the efforts of some hard-working individuals, as Sgt. Bill Rattray and firefighter Jayson Shalist were honoured as the best in their respective fields.

Rattray was described by his

former inspector, Barry Kross, as “one of the strongest and most sought after NCOs.” While Rattray may be renowned for his strength, it’s his kindness and selflessness that endears him to other officers. He often works Christmas shifts to allow others with young families to be with their kids, and his con-stables say he has greatly helped their professional development in

climbing the promotional ladder. Despite all this, the most im-

pressive aspect of Rattray’s career may be that has never taken a sick day.

Shalist was then recognized for his work with the Burn Fund, as the luncheon moved from one emer-gency service to the other.

Shalist became a camp coun-sellor at Burn Camp in 2007, where his energy and enthusiasm made him an instant favorite among campers. He encouraged campers who had suffered from burns to look past their scars and see that they still are “normal.”

His charitable work earned him the honour of escorting a camper to the International Association of Firefighters main camp in Wash-ington, D.C. — an event that all counsellors aspire to be a part of.

While it was the guests of honour that were celebrated for giving back to the community, guests at the luncheon also did their part by bringing in mounds of non-perishable food items to be donated to the Greater Vancouver Food Bank Society.

For a full photo gallery from the event, visit The Vancouver Board of Trade’s official Facebook page at www.facebook.com/TheVancou-verBoardofTrade.

By erin Brown

TransLink is one of Metro Vancouver’s largest organiza-tions – operating a $1.3 billion budget and leading more than 6,000 employees who live, work and play in the Lower Mainland region.

In a re c e n t a d d re s s t o members of The Vancouver Board of Trade, TransLink CEO Ian Jarvis outlined how the orga-nization is achieving efficiencies and doing business differently under a new financial reality.

In recent years, after a period of rapid expansion, TransLink has been focusing on cutting costs, operating efficiently, and living within its means. Despite this fact, Jarvis cited rising trans-portation assets and increased ridership as evidence of the orga-nization’s continued success.

With transportation assets up to $6 billion today from $1 billion in 2000, and ridership up 6 per cent and 6.5 per cent in the first quarter of 2012, Jarvis proposed that the transit authority now needs to garner financial support for future construction and op-erations initiatives.

Over the next three years, TransLink faces a revenue fore-cast that is off by $472 million. The organization plans to cut costs by $98 million annually in order to combat this challenge, and has placed an emphasis on raising capital directly from the market.

In alignment with this initia-tive, The Vancouver Board of Trade and the BC Chamber of Commerce endorsed a two-year, time-limited property tax as part of a funding solution.

In terms of TransLink’s ability

to face these financial obstacles, Jarvis told the audience, “our track record speaks for itself.” In 2011, TransLink moved 233 million riders on the system,14 million of which were without any additional investment in service. This kind of deliberation is needed, said Jarvis, as ridership continues to outpace population growth in Metro Vancouver.

Jarvis stressed the organiza-tion’s superior performance in supporting the 2010 Olympic Games, and that the success of this undertaking has had contin-ued benefits. Notably, Jarvis said TransLink served more transit riders in the first quarter of 2011 than in the first quarter of 2010.

With a projected population growth of one million people by 2040, Jarvis said the greater Vancouver community needs to start planning now to ensure

the continuation of high-quality transit service.

Jarvis’s speech reflected on the value TransLink has brought to the region, emphasizing the

importance of TransLink’s in-tegrated public transportation system to a strong economy and quality of life in Metro Van-couver.

Board of Trade recognizes those who make our city a better place to live

TransLink ceO shares insights with members of The Vancouver board of Trade

Vancouver board of Trade President and ceO Iain black (far left) and chair Ken martin (far right) present the 2012 community Hero Awards on Nov. 14. The ceremony recognized Police Officer of the Year Sgt. bill rattray, Firefighter of the Year Jayson Shalist, Not-for-Profit commu-nity Hero the mainland bc military Family resource centre (mFrc) and corporate community Hero London Drugs. Photo by Pablo Su.

TransLink ceO Ian Jarvis speaks to reporters following his November address to members of The Vancouver Board of Trade. Photo by Peter Taylor.

president and CEO’s message

A few weeks ago, I had the honour of attending our orga-nization’s annual Community Heroes’ Luncheon, an awards ceremony that casts a spotlight on some of this city’s most self-less individuals and most phil-anthropic organizations.

I was fortunate to be seated at the head table, where I broke bread with Sgt. Bill Rattray, re-cipient of the 2012 Police Officer of the Year award, and Jayson Shalist, recipient of the Fire-fighter of the Year award. Also at the table were representatives from the Mainland BC Military Family Resource Centre, this year’s Not-for-Profit Commu-nity Hero, and from London Drugs, this year’s Corporate Community Hero.

The ceremony was filled with inspiring moments, particu-larly when Rattray and Shalist gave their heartfelt acceptance speeches and shared what compels them to put their lives on the line for our community, day after day.

Hearing their words served as a timely reminder that it’s im-portant to give back – however we can – to make our city a better place to live. Call it an investment in the social fabric of our community.

In past issues of Sounding Board, I have referred to The Vancouver Board of Trade as an intersection – a crossroads where small business owners have an opportunity to meet and interact with executives from some of North America’s most successful organizations.

In a similar manner, The Vancouver Board of Trade also helps bring together many not-for-profit organizations with corporate leaders and decision-makers.

The Board of Trade currently has 165 not-for-profit organiza-tions in its membership, many of which are charities working to bolster health-care services, to fight homelessness, to support those living in poverty, or to help new immigrants get a fresh start in our community.

This is crucial work that improves our collective quality of life, but it’s becoming more and more difficult for many of

these charities to fulfill their mandates.

As reported recently in The Globe and Mail, Canadian chari-ties are facing trying times. Corporate donations have been declining since the economic downturn in 2008, and compa-nies are becoming more stra-tegic with their philanthropy programs.

In October, Imagine Canada — a national organization that advocates on behalf of Canadian charities and not-for-profits — released a report with even more troubling findings. After surveying the leaders of more than 2,100 charities across the country, it was discovered that confidence levels are drastically low as we head into 2013.

According to the report, the percentage of charity leaders predicting they will be weaker in the short and medium-term has roughly doubled over the past year. Likewise, the number of charities predicting decreased revenues, expenditures, and paid staff is on the rise.

Charities are increasingly being asked to do more with less. In the coming months and years, these organizations will need the help of the business community, be it through finan-cial donations, gifts in kind, or volunteer support.

Consider all the incredible work that is accomplished each year by organizations such as A Loving Spoonful, the Greater Vancouver Food Bank Society, Habitat For Humanity Greater Vancouver, the Michael Smith Foundation for Health Re-search, the Last Door Recov-ery Society, the Kids Up Front Foundation, RainCity Housing and Support Society, the Rick Hansen Foundation, Ronald McDonald House BC, The John Howard Society of the Lower Mainland of BC, The Salvation

Army, the Turning Point Recov-ery Society, and Zajac Ranch for Children.

There is no doubt that our community is stronger and healthier because of the very meaningful work those organi-zations do.

Or, consider the vast amount of support and resources offered by organizations such as the Alzheimer Society of BC, the BC Cancer Foundation, the BC Lions Society for Children with Disabilities, the Cana-dian Diabetes Association , the Canadian Liver Founda-tion , the Canadian Mental Health Association, Canuck Place Children’s Hospice, the Developmental Disabilities As-sociation, the Heart and Stroke Foundation, the MS Society

of Canada, Ovarian Cancer Canada, The Arthritis Society of BC & Yukon Division, and The Leukemia & Lymphoma Society of Canada.

It’s likely that nearly every person reading this column has benefited from the efforts of those organizations in one way or another. If not you, then one of your friends or loved ones.

The fact is, we need charities and not-for-profits to continue the work they are doing for our customers, our clients, and our employees.

Simply put , community giving is one of the most mean-ingful investments a company can make.

Iain Black is President and CEO of The Vancouver Board of Trade.

Iain black, President and ceO, The Vancouver Board of Trade

PUBLISHER: Business in Vancouver Media Group

EDITOR: Greg Hoekstra, 604-640-5450

ADVERTISING SALES: Katherine Butler, 604-608-5158

DESIGN: Business in Vancouver Media Group

As the official publication of The Vancouver Board of Trade, the Sounding Board newspaper provides analysis and discussion of regional and national issues facing the business community, along with input from member companies, allowing them to raise their profile in the business community.

Sounding Board is published 12 times per year by Business in Vancouver Media Group in partnership with The Vancouver Board of Trade.

Sounding Board is read by leading business executives and their employees. The paper has a primary circulation of 12,500 and a conservatively estimated total readership of 37,500.

ABOUT THE VANCOUVER BOARD OF TRADEThe Vancouver Board of Trade is Vancouver’s chamber of commerce. Since 1887, The Board of Trade has been an active proponent of business in Vancouver. The World Trade Centre Vancouver is the international division of The Vancouver Board of Trade and is affiliated with more than 300 WTCs worldwide.

OUR MISSION STATEMENT The Vancouver Board of Trade works in the enlightened interest of its members to promote, enhance and facilitate the development of the region as a Pacific centre for trade, commerce and travel.

OUR BASIC PRINCIPLES The Board of Trade believes that the market system is the only system that works effectively in the allocation of scarce economic resources for efficient and stable economic growth and job creation. The Board of Trade recognizes the imperfections of the market system and supports the need for publicly provided services such as social services, health services and public education. The Board supports the philosophy of less government involvement in the business sector and believes that governments should not do what can be done in whole or in part by the private sector.

PUBLICATIONS MAIL AGREEMENT No. 40011551The Vancouver Board of Trade, World Trade Centre Suite 400, 999 Canada Place Vancouver, B.C. V6C 3E1 [email protected]

The value of community givingCorporate philanthropy is an investment that pays dividends

“Charities are increasingly being asked to do more with less. In the coming months and years, these organizations will need the help of the business community, be it through financial donations, gifts in kind, or volunteer support..”

BOARD OF DIRECTORS 2012-2013

EXECUTIVE COMMITTEEChair Ken Martin

President and Chief Executive Officer Pacific Blue Cross

Senior Vice-Chair Elio Luongo Canadian Managing Partner — Tax KPMG LLP

Vice-Chair Janet Austin Chief Executive Officer YWCA Metro Vancouver

Vice-Chair Ray Williams President Ray Williams Associates

Secretary-Treasurer George Cadman, QC Shareholder Boughton Law Corporation

Finance and Audit Committee Chair Jon SchubertPolicy Council Chair Robin Silvester

President and Chief Executive Officer Port Metro Vancouver

Immediate Past Chair Wendy Lisogar-Cocchia President and Chief Executive Officer Century Plaza Hotel & Spa, Absolute Spa Group

Member at large Tim Manning Regional VP, Commercial Financial Services RBC Royal Bank

Member at large John Nightingale President and Chief Executive Officer Vancouver Aquarium

Member at large Tamara Vrooman Chief Executive Officer Vancity

BOARD OF DIRECTORS

Kevin Bent Pacific Newspaper GroupDave Cunningham Telus Corporation

Lara Dauphinee Fiore Financial Corporation, Fiore GroupMary Anne Davidson Acciona Infrastructures Canada

Maninder Dhaliwal TrucasaAnne Giardini Weyerhaeuser Company Limited

Calvin Helin RCI Capital Group, Inc.Craig Hemer Odgers Berndtson

Robin Hemmingsen BCIT School of BusinessDavid Hoff Ledcor

Terry Hui Concord Pacific Developments Inc.Richard Jaffray Cactus Restaurants Ltd.

Moray Keith Dueck Auto GroupSacha McLean The McLean GroupTracy McVicar CAI Capital Management

Evi Mustel Mustel GroupGordon Nelson Rogers Communications GroupDavid M. Poole Scotiabank

Jatinder Rai Response Advertising Inc.Elise Rees Ernst & Young LLP

Dr. Mark SchonfeldDennis Skulsky BC Lions Football Club

Lorne Segal Kingswood Properties Ltd.Ron W. Thiessen Hunter Dickinson Inc.

Denise Turner TitanStar Group of Companies

5December 2012 Sounding Board member news

Governors’ Banquet and Rix Center Awards 2013Monday, April 29, 2013 Vancouver Convention Centre — West

boardoftrade.com/events

Gold Sponsors Silver Sponsor

Wendy Lisogar-Cocchia President and CEO, Century Plaza Hotel & Spa, Absolute Spa Group

Terry C.Y. Hui President and CEO, Concord Pacific Developments Inc.

Council of Governors Inductee The Rix Award for Engaged Community Citizenship

The Rix Award for Engaged Corporate Citizenship

To inquire about sponsorship opportunities contact [email protected]

Be connected, be inspired, be successful

By rain emiLy ZHang

Most entrepreneurs will likely agree that running a business is a challenging and lonely journey.

Most of us have experienced moments in which we feel like we have no one to share our challenges with, and nowhere to get subjective comments about our ideas.

We feel dry and depleted men-tally and emotionally. I have been there. My entrepreneurial journey was full of challenges, frustrations and hopeless moments, but I have found the right way to deal with these headaches — that is to sur-round myself with the right people. Things can be great if you are con-nected and inspired.

Packing my hopes and enthu-siasm in two suitcases, I moved to Vancouver from Shanghai, China seven years ago. Two years later, at the beginning of 2008, I started the Willowest Enterprise. Inc, specializing in furnishing supplies to hotels.

As a fairly new immigrant, I constantly felt the challenges of running a business, because I lacked knowledge and connections

in the industry. But things changed when I became a member of The Vancouver Board of Trade in 2011. Doing so made a significant impact to me, and to my business.

Since then, I have been an active participant at events held by The Vancouver Board of Trade. Many of these events were cutting-edge and very informative. They helped open my eyes and my mind.

I was nurtured and inspired by people in various industries, many of whom already had experienced

success or were the leaders in their fields. In seminars, they shared in-formation as well as their wisdom, lessons and findings from their own journeys.

Through networking, I also got to know lots of people who were experiencing the same challenges

as me. Having a similar mindset, we understood each other and encouraged one another, which made the entrepreneurial journey easier and more fun.

I feel as though The Vancouver Board of Trade is like a family. It’s a supportive group where I am inspired and encouraged, where I am able to become stronger and wiser in running a business.

The Vancouver Board of Trade has helped me understand indus-try trends. With that very valuable

information, I formalized our company’s vision and adjusted our operations to meet the changing market.

Lately our company has been engaging in a concept of creat-ing a “home away from home” experience for tourists. With that

in mind, we have focused on what appeals to hotel guests most and have developed unique programs for each property.

I’m proud to say that Willowest has become a recognized supplier of comprehensive solutions for hospitality furnishing, with a client list that includes the River Rock Casino Resort, the Great Cana-dian Gaming Cooperation, the Sutton Place Hotel, the Sandman Hotel Group, the Opus Hotel, the Loden Hotel, the Fairmont Pacific Rim, the Hyatt Regency Bellevue, the Wedgewood Hotel, and many others.

This year, I am also honoured to be a finalist in the RBC Canadian Women Entrepreneur Awards. I would like to share my understand-ing of how to be successful in the business world — which is to be connected and to be inspired.

The Vancouver Board of Trade is a great resource. We all face chal-lenges in business, but we cannot afford to avoid them or shy away. We must learn to deal with them in a proper way.

By being connected, you will find resources and support. By

being inspired, you will become wiser and stronger, which will help you overcome challenges.

Once you become connected and inspired, it won’t take long at all for you to be smiling and suc-cessful.

Rain Emily (Shi Yu) Zhang is president of Willowest Enterprises Co. and a proud member of The Vancouver Board of Trade. She can be reached at [email protected].

Budding entrepreneur shares her experience in The Vancouver Board of Trade

Rain Emily Zhang, President, Willowest Enterprises Co.“The Vancouver Board of Trade is like a family.

It’s a supportive group where I am inspired and encouraged, where I am able to become stronger and wiser in running a business.”

6 Sounding Board December 2012member news

2013 BMO Economic Outlook Forum: Fast Forward to the FutureThursday, January 17, 2013

Keynote

boardoftrade.com/events

Gold SponsorTitle Sponsor Community Sponsor

Doug Porter Deputy Chief Economist, BMO Capital Markets

The Honourable Michael de Jong, Q.C. Minister of Finance,

Province of B.C.

Carole James MLA, Victoria-Beacon Hill,

Critic for Social Development

Bruce Ralston MLA, Surrey-Whalley,

Critic for Finance and

Public Accounts

The Honourable Pat Bell Minister of Jobs, Tourism and Skills

Training, Province of B.C.

By ray wiLLiamS

The subject of employee engagement as a measure of productivity has been a hot topic since the original Gallup organization research was pub-lished.

While most of the research identifies low levels of employee engagement in many organiza-tions and strategies to increase that engagement for the purpose of improving productivity, the cause-and-effect relationship is not overwhelming. Rather, an overarching strategy of in-creasing employee well-being in which engagement strategies are incorporated, appears to be more favorable.

The Gallup organization defined employee engagement as “an employee’s involvement with, commitment to, and sat-isfaction with work.”

Research conducted in the past decade has shown that employee engagement has de-clined significantly in most industries, with some research citing as few as 29 per cent of employees being actively engaged in their jobs.

The Hay Group found in its research that in among office workers who were actively engaged, they were 43 per cent more productive.

Various research studies have shown that the following factors influence employee engage-ment: Employers’ commitment to and concern for employee welfare; employee perceptions of job importance; clarity of job expectations; career advance-ment opportunities; regular dia-logue with superiors; quality of working relationships with co-workers and superiors; percep-tions of the ethos and values of the organization; and employee rewards and recognition.

L a u r i e B a s s i a n d D a n McMurrer of McBassi and Company , a human capital analytics firm, in their article in Talent Management Magazine, argue that “since the drivers of employee engagement are not identical to the drivers of busi-ness results, attempting to maxi-mize employee engagement can actually take an organization in the wrong direction.”

They identify three myths of employee engagement. The

first is assuming the drivers of employee engagement are the same in all contexts, indicat-ing that the drivers address the outcome of employees’ willing-ness to stay with the employer and are satisfied with their workplace. The second myth is that the drivers for engagement are the same as those of busi-ness results, citing the Gallup research which concluded that employee engagement had no connection to customer engage-ment. The third myth is that

management should imple-ment strategies to increase employee engagement, arguing that because the outcomes of business results and contexts are different, using engagement strategies to change the former, is misplaced.

Bassi and McMurrer recom-mend engagement strategies be replaced within human capital strategies by determining what are the human drivers of busi-ness results which are critical to all organizations in all contexts, and which drivers can actually be shown to improve human performance.

In a study for the American Psychological Association en-titled Well-Being in the Work-place and its Relationship to Business Outcomes, researchers James Harter, Frank Schmidt and Corey Keyes concluded that productivity was enhanced in workplaces where daily oc-currences that bring about joy, interest, and caring that lead to high level of bonding of indi-viduals to each other, their work and their organization.

The authors concluded that well-being in the workplace is,

in part, a function of helping employees do what is naturally right for them by freeing them to do so, through behaviors that influence employee en-gagement and therefore that increase the frequency of posi-tive emotions.

So it seems that while much has been researched and written about the importance of em-ployee engagement, there is not an overwhelming amount of evidence to demonstrate a cause-and-effect relationship with business results.

On the other hand, there is increasing evidence that employee engagement strate-gies which are incorporated into much broader strategies of promoting employee well-being and manager-employee positive relationships may hold greater promise to drive busi-ness results.

Ray Williams is president of Ray Williams Associates and vice-chair of The Vancouver Board of Trade. For more info visit www.raywilliamsassoci-ates.com.

Does employee engagement improve productivity?

Ray Williams, President, Ray Williams Associates

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By niCoLe ByerS

At this time of year, we have many opportunities to donate time and money to assist those less fortunate. While these efforts are important, many organiza-tions and causes require support throughout the year, not just during the holiday season. Not-for-profits and charities need volunteers with the skills that business people and professionals have.

Most of us have many demands on our time. Our businesses, careers or professions require the bulk of our time and energy, and when added to other priorities such as family and personal health and wellness, it is difficult to do all that we want.

So, why do busy people vol-unteer? Because we receive more from our volunteer experience than what we contributed in the first place.

For those of us who have dis-covered this truth, it is important to spread the word that not only is volunteering good for our com-munities, it results in unexpected benefits for one’s career or busi-ness. The following is my list of these benefits:

Communication skills. Most of us do not get enough practice at active listening. To be able to understand the real message from people who, for whatever reason, cannot communicate well is a skill that you can develop by working with diverse stakeholders and groups. Further, you have added opportunity to practice effectively communicating your message in a non-work setting.

Leadership skills. Whether you are watching good (or bad) leader-ship in action, or have an opportu-nity to lead your own committee or Board, volunteer organizations provide a terrific opportunity to develop leadership techniques and skills. Since we learn just as much (if not more) from our failures, volunteer organizations provide an

opportunity to practice in a rela-tively safe environment – allowing us to step outside our comfort zone more than we might do in our regular work environment. This in turn will lead to increased con-fidence and/or credibility, thereby enabling you to take more active leadership roles in your job.

Managing meetings. To run a meeting well requires organiza-tional and communication skills, focus, and diplomacy. It is also important to learn how to listen for the opinions that are not being ex-pressed, whether because the dis-cussion is being dominated by one or more participants, or because others are too shy or reluctant to weigh in. Regularly participating in board meetings is a great way to learn how to manage meetings effectively, and once mastered is a skill that will add to your effective-ness in a business context as well as your personal life.

Networking and building con-nections. Many high achievers are drawn to boards because they want to give back to worthy orga-nizations that are in need of their skills and abilities. Thus, one of the unexpected bonuses of giving of your time is the opportunity to meet and work with talented and influential people in the business community whom you might not otherwise meet. These individuals can assist you in a variety of ways,

including linking you to other con-nections, to providing mentorship or support.

Self confidence, validation and self esteem. Sadly, in some organizations, opportunities for recognition are infrequent, either because positive recognition is not a priority, or you are not a good fit in that particular environment. Accordingly, sometimes it is the people you meet on boards who are the first ones to recognize your contributions and ability. This external source of validation can be a source of confidence that can in turn, motivate you to greater success in your professional and personal life.

Finally information on the benefits of volunteering would not be complete without mentioning a few important caveats, including:

• Never, ever volunteer solely to puff up your resume (if your sole motivation for joining a board or organization is for what it will do for you and your career, your fellow board volunteers will figure this out);

• Ensure that the organization that you are considering volun-teering for is a “fit” for you (if you have to drag yourself to meetings, your lack of enthusiasm will be demonstrated in the quality of your contributions);

• Be realistic about how much time you can devote before you sign up, so you don’t let others down.

In addition to the satisfaction of giving back to our community and being involved in interest-ing endeavors, the rewards of volunteering your time are rich. That’s something to remember as we contemplate our goals for the coming year.

Nicole Byres is a partner at Miller Thomson where she heads up the Labour and Employment Group for its Vancouver office. She is also a member of The Vancouver Board of Trade’s Women’s Leader-ship Circle Advisory Council.

Nicole byers, Partner, miller Thomson LLP

The rich rewards of volunteering

Province releases Small Business ProfileThe Government of British Co-

lumbia recently released its Small Business Profile 2012, a statisti-cal report highlighting the major role small business plays in B.C., through job creation, economic investment, exports and contri-butions to the province’s gross domestic product.

The profile can be found online, and new this year, a web-based

version optimized for smartphones is also available.

Some of the 2012 profile’s high-lights include:

• B.C. ranks first in Canada for the number of small businesses per capita, with 84.2 per 1,000 people.

• Small business provides about 56 per cent of all private-sector jobs in B.C., the second-highest rate in the country

• B.C. small businesses shipped approximately $16.9 billion worth of merchandise to international destinations in 2010, up $6 billion from 2009.

• Small business employed over one million people in the province in 2011.

The Small Business Profile is available online at www.resource-centre.gov.bc.ca.


By tony weLLer and aLi aBeLL

The H.A.V.E. Culinary Train-ing Society is a culinary training school that provides food service job training and work opportuni-ties to individuals in Vancouver who experience barriers to em-ployment.

The society’s students are youth and adults facing mental and physical disabilities, poverty, addiction and homelessness. In addition to the eight weeks of culinary training, students are also provided with employment counselling support, job devel-opment and two meals a day.

The concept of H.A.V.E. started over five years ago when Brad Mills, CEO of Mills Basics, and a group of concerned busi-ness people came together in an attempt to create an innova-tive, effective, and sustainable program that could continue the mission and good work that was done by the former Cooks Studio. The goal was to take an entrepreneurial approach to tackle poverty and unemploy-ment in Vancouver’s Downtown Eastside community.

As a business owner in the community Brad believes that the private sector has an impor-tant role to play in addressing the social interests and sustain-able development goals of the communities they operate in. By developing partnerships and ef-fective corporate social respon-sibility agendas, businesses not only become aware of the issues facing their communities, but they also stand to gain from the mutual benefits that arise when they become active partners in community development ini-tiatives.

In 2011, H.A.V.E Culinary Training Society trained more students than ever before. En-rollment numbers were at a record high and are expected to continue in the coming year. Over the past five years, 500 students have been trained with over 75 per cent of those students gaining steady employment in the tourism and hospitality in-dustry, thanks to a partnership with Ian Tostenson and the BC Restaurant Association.

Under the able tutelage of Executive Director Amber An-

derson, the H.A.V.E. program is not only going strong, but is expanding business operations and their capacity to help those who experience barriers to em-ployment in the DTES.

Recently, through a com-munity partnership with SHIFT Urban Cargo, H.A.V.E has started a lunch delivery service, Bites on Bikes, in downtown Vancouver delivering socially responsible lunches to offices using electric tricycles. Other revenue raising initiatives include Amber and Friends, a fine dining culinary ex-perience with Amber and a guest chef, and our annual H.A.V.E. Culinary Training Society Charity Golf Tournament.

In 2012, the Government of British Columbia recognized the positive impact this program was having on the DTES residents and in June announced its plans to put $498,600 into the program, which will give 120 new partici-pants a chance to go through the culinary school.

H.A.V.E. is a shining example of what can happen when an in-dividual is given hope and trust, a business owner and his company

take action, relationships are not determined by the past but by values, and homelessness is seen as an ethical responsibility of a community.

Tony Weller and Ali Abell are Account Executives with M i l l s . Fo r m o re i n f o r m a -tion, visit www.mills .ca or www.have-cafe.ca.

By tania VrioniS

The holidays are always a good time to pause and reflect on the year that is about to pass – we make plans for the future and count the blessings we are privileged to have.

For many, it is also a time to give, and as the President of the Foundation Council for Fraser Health, I have the honour of bearing witness to the over-whelming generosity of the communities we serve. Made up of 10 independently gov-erned Foundations that work within Fraser Health to support healthcare in our communities, the Foundation Council is re-sponsible for managing over $25 million that is collectively raised each year.

When most people hear “hospital foundation” they automatically think money for equipment and major expan-sions. The foundations of today not only play an important role in supplementing government

funding for buildings, they are also stewards of innovation, education and research. The impact of their involvement goes beyond just hospitals into support for health promotion and community services.

In the case of Fraser Health, our population is one of the most unique in the province. To give you an idea of how distinctive our communities are, consider the fact that 60 per cent of our population is under the age of 45, and of those almost 20 per cent are under the age of 16. Over 15 per cent of families are single-parent homes and 12 per cent of these are led by women. This translates into a large number of young, vibrant families that need unique services and support.

One such example is the “Girls World” initiative to improve the health of young women in Maple Ridge and Pitt Meadows by the Ridge Meadows Hospital Foun-dation. By supporting young girls in making positive lifestyle choices through education and

opportunity, we can potentially improve their health outcomes into adulthood. We know that active children perform better at school, have higher self esteem and are less likely to engage in risky behaviours in adoles-cence – ultimately benefitting the health care system in the long run.

Another wonderful example is the “Because People Matter” grants program through the Peace Arch Hospital and Com-munity Foundation. Launched in 1999, the program supports innovative projects at Peace Arch Hospital as well as community programs that focus on health education, research and service delivery. Over $1.4 million has been invested in more than 90 projects since the inception of the program.

One such project is the pur-chase of six iPad2 devices for children with autism who have limited speech or are completely non-verbal. Harmony House in Surrey previously received two

devices and were able to show that students acquired language and understanding more quickly. The organization focuses on pro-viding youth with autism with the skills and tools that allow them to be social members in their community to the best of their personal ability.

These are but two of the ex-

citing projects our foundations support every year. So the next time one of our hospital founda-tions approach you for financial support, remember that it isn’t always about buying a fancy new bed or piece of equipment, it is also about building better, healthier communities together for the benefit of us all.

Tania Vrionis is the President of the Fraser Health Foundation Council and the Executive Dir-ector of the Langley Memorial Hospital Foundation. The Fraser Health Foundation Council is made up of 10 independently governed Foundations, including the Burnaby Hospital Founda-tion, Delta Hospital Foundation, Eagle Ridge Hospital Foundation, Fraser Valley Healthcare Founda-tion, Langley Memorial Hospital Foundation, Peace Arch Hospital and Community Foundation, Queen’s Park Healthcare Foun-dation, Ridge Meadows Hospital Foundation, Royal Columbian Hospital Foundation and Surrey Memorial Hospital Foundation.

Discover the gift of giving this season

Tania Vrionis, President, Fraser Health Foundation council

Culinary program stresses hope, action, values and ethics

Hospital foundations are working to build better, healthier communities

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Even though unemployment levels remain relatively high, Ca-nadian employers are experienc-ing challenges in attracting and retaining employees, according to the results of a survey recently completed by Western Compen-sation & Benefits Consultants.

Barry Cook, a partner in the firm, indicated that about one in three employers are confronted with these challenges, with pro-fessional and technical positions posing the greatest difficulty.

“Developing and retaining their best performers is the top human resources priority for 2013,” said Cook, “and they consider that paying competitive compensation is the most effective strategy to meet this priority.”

Providing development and advancement opportunities, par-ticularly for professional and tech-nical employees, was identified by employers as another important attraction and retention tool.

Salaries continue to increase. The consultants’ survey shows that salaries went up approxi-mately three per cent nationally in

2012 and are expected to increase by a similar amount in 2013. Cook points out, however, that “the magnitude of salary increases varies by geographic region, sector of the economy and industry.”

Salary increases were and will be highest in Alberta and Sas-katchewan, with Atlantic Canada and regions of Ontario being lower. The public sector increases were only about two per cent in 2012 and are expected to be the same in 2013.

Three quarters of the organiza-tions surveyed award larger salary increases to high performing employees. Typically, the high per-formers receive increases which are two to two-and-a-half per cent higher than those awarded to average performers.

Employers continue to find that annual bonus programs are an effective way to engage and motivate employees. Such plans are commonly provided for salaried employees, with approxi-mately 90 per cent of the organiza-tions surveyed making payments under these plans for the last fiscal

year and a similar proportion ex-pecting to make bonus payments for this fiscal year. Overall, the employers expect the magnitude of bonuses for this fiscal year to be higher than those paid for last year.

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Salaries and bonuses trend upwards: WCBC One in five B.C. children

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Here’s another one: every month, more than one-third of children in Grades 4 to 7 are bullied or bully others.

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BMO Bank of Montreal recently cele-brated the 125th anniversary of its Vancou-ver Main Office Branch with customers and members of the community.

As Canada’s first bank, BMO opened its first British Columbia branch in 1887, when the population of Vancouver was approximately 10,000 people.

“Now, with more than 600,000 resi-dents and a diverse and growing busi-ness sector, BMO is proud to be serving the financial needs of this community 125 years later,” said Jennifer Muench, Vice President, Vancouver, BMO Bank of Montreal.

The branch opened in August 1887 in a wooden building on the southeast corner of Hastings and Seymour. It was the first BMO branch west of the Rockies.

Campbell Sweeny – BMO’s first branch manager in Vancouver – was a director of a number of companies and a found-ing member of The Vancouver Board of Trade. In 1890, he spearheaded a commit-tee that established the Vancouver Club and served on the board of governors for the University of British Columbia.

BMO later relocated to the Merchant’s Bank Building on Granville Street, follow-ing the acquisition of Merchant’s Bank of Canada in 1922. The stately building

was renovated and served as BMO’s head office for B.C. until 1974. BMO’s Vancouver Main Office Branch was then relocated to the Bank of Montreal Tower in the Bentall Centre at the corner of Burrard and Dunsmuir.

In addition to BMO’s celebrations, The Vancouver Board of Trade – a long time business partner of BMO – is also marking its 125th year of operations.

“Our organization has worked closely

with BMO for 125 years. Together, we have helped forge a community where businesses can succeed and thrive,” said Iain Black, President and CEO of The Vancouver Board of Trade.

“Our partnership with BMO is one of our longest-standing relationships, and it’s one that we hope will flourish for years to come.”

Derral Moriyama, Senior Vice Presi-dent, Commercial Banking, Greater Van-

couver District, BMO Bank of Montreal, noted that Vancouver continues to attract new Canadians and business investors.

“BMO Economics forecast 60,000 new jobs in Greater Vancouver by 2016. We do see a number of sectors exhibiting strength in B.C., including manufactur-ing, construction and engineering,” said Moriyama.

For more information on Canada’s first bank, visit www.bmo.com.

BMO celebrates 125 years in Vancouverboard of Trade applauds one of its longest-standing partners

bmO photo caption here XXXXXXXX

Board of Trade thanks retiring YVR President Larry Berg

from page 1

The Vancouver Board of Trade has been actively working on this issue throughout 2012. Under the leadership of Marian Robson, our Regional Transportation Committee has pulled to-gether a series of leaders and industry stakehold-ers, to discuss transit without visa and make recommendations to the federal government.

Our organization has also benefitted immense-ly from the work of Van-couver Airport Authority president and CEO Larry Berg, who previously sat on our board of direc-tors. Berg will be retiring in 2013, after 15 years as the head of YVR. In recent years he has been instrumental in some of some of our city’s great accomplishments, including the 2010 Winter Olympic and Paralympic Games and the unveiling of the Canada Line. Berg has helped YVR become one of the world’s greatest airports, and

we are grateful for his years of service and insight.

In addition, The Vancouver Board of Trade’s Director of Public Policy, Kareem Allam, has been working as a member of the Province of British Columbia’s

Air Access Steering Com-mittee, led by MLA Rob Howard. The committee believes that aviation is critical to growing the B.C. economy, supporting jobs, enabling investment and facilitating trade.

As we head into 2013, air access will continue to be one of The Vancouver Board of Trade’s top policy priorities. On behalf of this city’s business com-munity, we will work to advance the discussion on air access, and plan to host an event in the coming months that will facilitate

the exchange of ideas on this important topic for British Columbia.

Ken Martin is Chair of The Vancouver Board of Trade and CEO of Pacific Blue Cross.

“Our Regional Transportation Committee has pulled together a series of leaders and industry stakeholders, to discuss transit without visa and make recommendations to the federal government.”

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The price of gold has been rising for more than a decade. The famous inves-tor John Templeton once said that bull markets are born in pessimism, grow on skepticism, mature on optimism and die on euphoria. We see signs of both skepticism and optimism in the current coverage of gold.

The pessimism of the late-1990s, when gold was largely ignored, is gone, but today’s gold investors are far from euphoric. It seems likely to us that the advance in gold is at least two-thirds over, but may still have some room to run on the upside. Assessing exactly where we might be in this long cycle is a difficult, but interesting question.

For perspective, in the late 1990s, the price of gold traded under US$300 per ounce. Recently the price has been hov-ering in the US$1700 range. The previous bull market saw gold trade above US$800 in 1980 at its peak, which is equivalent to over US$2,000 today, accounting for inflation.

Gold’s chances of exceeding US$2,000 in the next few years depend greatly on whether strong global economic growth emerges. There is an opportunity cost to owning gold, as it produces no income.

Gold investors have been able to disre-gard that opportunity cost in recent years because interest rates have been so low — at times lower than estimates of infla-tion. Also, stock market performance has recently been mediocre.

In a strong global economy, interest rates would probably rise substantially, and many companies would achieve better results, creating more invest-ment opportunities in equities and fixed income to compete with gold. Special monetary policy measures, such as quantitative easing, could be halted. Unfortunately, the prospects for a strong global economy in the near term are poor. At the time of writing, US 10 year bonds were trading at a yield around 1.6 per cent, suggesting that near-term growth expectations are low.

We think we could see a strong global economy again in the medium term, but probably not during the next 12 to 24 months. Continued short-term economic weakness could give the gold bull market some additional runway before monetary policy tightens. One economic develop-ment to monitor is the apparent bottom in U.S. housing starts, as home construc-tion is labour-intensive and could spur U.S. employment and economic data over the next several years, starting to put upwards pressure on interest rates.

On the demand side, one development to monitor is China’s increasing role in the gold markets. Many people are aware of India’s appetite for gold, but China is now expected to overtake India as the world’s biggest gold consumer. A con-tinued increase in Chinese gold demand is obviously bullish, and makes more of a difference to the price of gold than in-dividual investor attitudes about gold in North America. We believe Chinese gold demand will continue to increase over the next decade.

Geological factors also deser ve mention. On the supply side, global gold production has been rising for the past few years. However, fewer gold deposits containing at least 3 million ounces are being discovered than in past decades. Also, the grade of the ore being extracted globally has trended lower on average over several decades. Consequently, production costs are rising. For example, Thomson Reuters GFMS have a propri-etary measure of “all-in” costs to produce an ounce of gold, which they reported as US$1,044 for 2011. It is clearly challeng-ing at present for miners to find large high-grade deposits that can be produced cheaply, which is supportive of the gold price.

Much like American politics, opin-ions on gold as an investment tend to

be polarized. There are the “gold bugs” who favour it over all other investments, and there are those investors who avoid it completely, fixating on the fact that it produces no income.

We occupy a middle ground where we see gold-related investments as a worth-while part of a diversified portfolio at this time. When fundamental conditions change, our opinion will change, and it is possible that we could cut our weighting in gold-related investments drastically. For now, we are content to hold them, as we still believe significant upside is possible.

Armstrong Schmidt Investment Man-agement provides a full range of investment services to both retail and corporate clients with a specific focus on discretionary portfolio management. The partnership operates under the corporate umbrella of Raymond James Ltd., the Canadian sub-sidiary of one of North America’s leading full-service investment dealers. The views and opinions expressed in this article are those of Armstrong Schmidt Investment Management and not Raymond James Ltd. This article is not a solicitation and is for information purposes only. Raymond James Ltd.is a member of the Canadian Investor Protection Fund. For more in-formation about our services, please visit www.armstrong-schmidt.ca.

The outlook for gold investors


A higher arts education from Emily Carr University of Art + Design may just be recession-proof, according to findings in a recent alumni survey conducted by Vision Critical.

Results show that 92 per cent of graduates are working and directly supporting growth in British Columbia’s creative sector, a six-per-cent increase since a previous survey con-ducted in 2006.

The Vision Critical survey had a high response rate — more than one third of invited alumni who attended Emily Carr within the last 15 years participated. Findings report that 29 per cent (of those 92 per cent) are creative entrepreneurs who own their business, are self-employed or are themselves, employers.

Graduates hold a wide variety of positions and work in com-panies from diverse industry sectors. Employers include Jostle Corp, Rethink, Vancou-ver Coastal Health, Hootsuite, Apple, The Rennie Collection and Twitter.

“Recent grads are entering the labour market quickly and their creative skill sets are in demand: more than half of re-spondents are five years out of school and under the age 35,” says Barry Patterson, Executive Director of Communications for Emily Carr. “And if they are not finding a job they are starting

their own businesses.” A closer look at this group of

graduates finds that 20 per cent are in business for themselves, a positive result that suggests this trend will continue into the future.

Other key findings indicate that the majority of employed alumni (83 per cent) say their field utilizes the skills they de-veloped at Emily Carr, that 73 per cent of Emily Carr alumni-based companies are based in British Columbia, and that 76 per cent of alumni who maintain a creative practice outside of a full-time job also earn an additional income of up to $25,000 a year.

“A university education in art and design should no longer be underestimated within the value chain of societal and economic prosperity. We educate individu-als to be entrepreneurial, multi-skilled professionals who are adept at contributing a critical and creative perspective to the workplace and economy,” says Dr. Ron Burnett, President and Vice-Chancellor of Emily Carr.

“These results affirm our vision which is to build Emily Carr’s Great Northern Way Campus and place us at the centre of a new social, cultur-al, educational and economic engine for British Columbia.”

For more information on Emily Carr University of Art + Design, visit www.ecuad.ca.

In the immediate aftermath of the earthquake and tsunami that devastated Japan last spring, Atlanta-based insurance giant Aflac Inc. was forced to confront a marketing fiasco with global implications.

The voice of their famous Aflac duck, comedian Gilbert Gottfried, had used his Twitter account to make tasteless jokes about the natural disaster that wiped out entire cities on Japan’s northeast coast.

The online backlash against Gottfried’s social media out-burst – and ultimately Aflac – was swift and forceful in the United States, but the repercussions were even greater in Japan, where the company insures one in four households.

To the company’s credit, a well-crafted public relations and social media response – along with the swift firing of Gottfried – quelled what could have been an overseas marketing (and financial) disaster – one that was triggered by poor comedic taste and the power of social media.

But the Aflac story is repre-sentative of a greater trend in marketing today. Today’s global companies confront new chal-lenges and opportunities borne of an environment where digital media and empowered customers rule the day – across countries, continents and time zones.

A new study from Simon Fraser University, entitled Marketing meets Web 2.0, social media, and creative consumers: Implications for international marketing strat-egy, explores this new reality for managers generally and for inter-national marketers in particular.

Published recently in Busi-ness Horizons, it was authored by Leyland Pitt, Kirk Plangger and Daniel Shapiro from SFU’s Beedie School of Business, and Pierre Berthon from Bentley University’s McCallum Graduate School of Management.

As the study notes, today’s global marketing environment is littered with success and disas-ter stories for many well-known brands. However, all tend to have one thing in common: the shift in power away from the firm toward individuals and communities.

The authors maintain that marketing managers need to understand the nuances of the aforementioned three key areas: Web 2.0, social media and creative consumers. Web 2.0 is the techni-cal infrastructure that enables the social phenomenon of collective media and consumer-generated content. The latter – social media and creative consumers – are distinguished by their difference in focus. Social media can be thought of as focusing on content, and creative consumers on the creators of that content.

Beyond the understanding of the digital media landscape, a big challenge for would-be global marketers in this arena is that not all countries share the same pref-erences for specific social media channels.

“There is evidence of a rela-tionship between cultural norms and values and the relative inter-est in a social media site across different countries,” argue the researchers.

Using data from Google searches, they showed that rela-tive interest in particular social

media differs markedly across countries. As examples, Facebook and LinkedIn are very popular in the United States, India and South Africa, but are less so in Japan, which gravitates towards home-grown venues such as mixi and GREE in addition to Twitter.

“From an international mar-keting strategy perspective, this means that firms cannot follow a one-size-fits-all or standardized approach when it comes to social media usage. A company will need to customize the social media aspects of its global marketing strategy to fit and accommodate national differences.”

To help international market-ing strategists, the researchers offer five starting points for har-nessing social media and creative consumers in international mar-keting strategy:

Social media is a function of the technology, culture and gov-ernment of a particular country.

In the age of social media, local events seldom remain local.

In the age of social media, general issues seldom remain general; that is, macro issues tend to be (re)interpreted locally.

The actions and creations of creative consumers tend to be a function of the technology, culture, and government of a par-ticular country.

Technology tends to be histori-cally dependent; that is, technolo-gies in different countries evolve along unique trajectories due to inertia rather than because they are the optimal solution.

For more information on the research and programs at SFU’s Beedie School of Business, visit www.beedie.sfu.ca.

Is B.C.’s creative economy recession-proof?

Sauder School of Business research-ers at the University of British Columbia have found that a person’s date of birth can affect their climb up the corporate ladder.

The Sauder study shows that only 6.13 per cent of an S&P 500 CEO sample was born in June and only 5.87 per cent of the sample was born in July. By comparison, people born in March and April repre-sented 12.53 per cent and 10.67 per cent of the sample of CEOs.

“Our findings indicate that summer

babies underperform in the ranks of CEOs as a result of the ‘birth-date effect,’ a phe-nomenon resulting from the way children are grouped by age in school,” says Sauder Finance Prof. Maurice Levi, co-author of the study to appear in the December issue of the journal Economics Letters.

In the United States, cut-off dates for school admission fall between September and January. The researchers determined that those CEOs in the sample born between June and July were the young-est in their class during school, and

those in March and April were the oldest. This takes into account children born in months close to the cut offs who were held back or accelerated.

“Older children within the same grade tend to do better than the youngest, who are less intellectually developed,” says Levi. “Early success is often rewarded with leadership roles and enriched learning op-portunities, leading to future advantages that are magnified throughout life.”

Levi and his co-authors, former Sauder PhD students Qianqian Du and Huasheng

Gao, investigated the birth-date effect in a sample of 375 CEOs from S&P 500 com-panies between 1992 and 2009.

“Our study adds to the growing evi-dence that the way our education system groups students by age impacts their lifelong success,” says Levi. “We could be excluding some of the business world’s best talent simply by enrolling them in school too early.”

For more on the research at UBC’s Sauder School of Business visit www.sauder.ubc.ca.

Beedie study explores how the digital age is changing marketing

Emily Carr alumni employment increases during challenging economic times: survey

Summer babies less likely to be ceOs: Ubc research


THE VANCOUVER BOARD OF TR34760HH 5.00 x 6.200Thank you hosts

Thank you sponsors!

Without your support, our events would not be possible.

For your generous contributions throughout November

On Saturday, Dec. 8 and Satur-day, Dec. 15, the extremely popular West Coast Express Santa Train will be back on track, offering free rides to passengers in return for new, unwrapped toys.

Now in its 16th year, the Santa Train collects toys on behalf of the Christmas bureaus throughout the communities West Coast Express serves including SHARE in the Tri-Cities, the Maple Ridge/Pitt Meadows Christmas Hamper Society and the Christmas Bureau in Mission.

In 2011, West Coast Express collected more than 3,900 toys and $1,260 in donations.

“When we first launched the Santa Train 16 years ago, we carried about 1200 passengers over the two-day event and now we are car-rying more than 2,500 passengers on the two Saturdays,” said Fred Cummings, President and General Manager of West Coast Express.

“West Coast Express passen-gers have embraced the Santa Train because it’s a fun-filled way to give back to families in need in

their communities.” Want to come along for the

ride? Bring a new, unwrapped toy to any West Coast Express Station on either Dec. 8 or Dec. 15 and in exchange for your new unwrapped toy, you will receive a same-day return ticket for the West Coast Express.

The Santa Train is fun for the entire family. Santa will be on board the morning train to Wa-terfront Station to visit with kids of all ages, and he can be found in the West Coast Express concourse at Waterfront Station in the after-noon (3-4 p.m.) for photos.

West Coast Express is also supporting a food drive in the northeast sector by collecting non-perishable food donations at any of its stations. While food donations are greatly appreciated, to hop on board a Santa Train and receive a free return-ticket, each passenger must donate a new, unwrapped toy.

For more information, includ-ing a complete schedule, visit www.translink.ca.

Your beloved holiday favou-rite is back!

Make your days merry and bright by warming to the Arts Club Theatre Company’s unfor-gettable musical about love and friendship — White Christmas: The Musical.

Now in its fourth year, the Arts Club’s production of White Christmas has already brought joy to more than 100,000 audi-ence members.

“Our show has been em-braced as a seasonal tradition by thousands throughout the province,” says Arts Club direc-tor Bill Millerd.

“If you love the film, you’ll discover that there’s more to love in the stage adaptation… this show captures the time-less yearning during the holi-days to be with those that you cherish.”

Based on the classic film, White Christmas brims with tunes that will fill you with the

joy of the season. It plays on the Stanley Industrial Alliance Stage from November 29 to De-cember 23.

Meanwhile, the Arts Club’s much-loved production of It’s a Wonderful Life returns to the Granville Island Stage from Nov. 29 to Dec. 29.

Based on the film by Frank Capra, this production tells the story of George Bailey (Bob Frazer), who has a lovely wife (Jennifer Lines) and family, and performs countless good deeds for friends and townsfolk in Bedford Falls.

Yet all that seems to count for naught when he faces financial adversity and a nemesis (Alec Willows).

At George’s most woeful moment, his guardian angel, Clarence Oddbody (Bernard Cuffling), swoops in to remind him that faith, hope, and family make life truly wonderful.

While the show’s inspira-

tional story and charm remain, some new cast members will help bring this holiday heart-warmer to life.

Finally, the Arts Club also presents The Santaland Diaries on the Revue Stage from Nov. 28 to Dec. 22 — a sardonic holiday treat for adults.

Written by popular humour-ist David Sedaris, this merrily wicked tale recalls Sedaris’s tour of duty as an elf at Macy’s Santaland.

Both outlandish and illu-minating, this witty one-man show showcases the comic brilliance of the multi-talented Ryan Beil (The Importance of Being Earnest, Billy Bishop Goes to War) in what is sure to be an elfin good time.

For more information on these performances, or to pur- c h a s e t i c k e t s , v i s i t w w w.artsclub.com or call the box office at 604-6878-1644.

Donate an unwrapped toy and hop aboard the Santa TrainPopular West Coast Express toy drive returns

Ring in the season with the Arts Club Theatre Co.Enjoy three holiday performances on three different stages this month


Job searching in today’s economy is tough – especially if you are a mature worker trying to adapt to a rapidly chang-ing labour market.

That’s why the YMCA of Greater Van-couver is launching the Experience Works program, a 12-week employment program for adults 55 years and older that helps par-ticipants gain skills, showcase experience and, of course, get working.

As a part of the path to securing long-term employment, participants undergo vocational assessments and training while they explore and adapt to new labour market trends.

To participate in the program, partici-pants must be 55 years of age or older, be unemployed, be legally entitled to work in Canada, reside in Burnaby or Vancouver, and not have an established Employment Insurance claim in the last three years.

Participants will benefit from a variety of workshops, on topics such as how to market employability skills or computer skill development.

The program offers a work experience opportunities with local businesses and non-profit organizations and a training allowance to help cover the costs of at-tending training sessions. Participants

can also receive training for certifications that may be required by job placements, such as FoodSafe certification or Fork Lift Operator ticket.

Employers wantedAre you an employer looking for expe-

rienced and skilled employees?The YMCA is also seeking organizations

to provide six-week work placements for participants. In addition to creating di-versity in your workplace, employers will benefit from decades of skill and experi-ence through a mentorship relationship that enriches both the mentor and mentee. Grow your organization with our experi-enced participants.

Employers will benefit from a wage subsidy that provides up to 50 per cent of participant wages, ensuring the program is accessible to your organization.

The YMCA will also provide employer-focused training, including complimen-tary workshops and resources that will help your organization meet the needs of an aging workforce.

For more information about the YMCA Experience Works program, call 604-685-8066, email [email protected], or visit www.vanymca.org.

YMCA launches new Experience Works program

By Sean LyonS

Members of The Vancouver Board of Trade’s Small Business Council recently met with Canada’s Procurement Ombudsman, Frank Brunetta, and Janet Barrington, Director of Quality Assurance and Risk Man-agement from The Office of the Procurement Ombudsman.

As an independent organization, the Office of the Procurement Ombusdman reports to the Minister of Public Works and Government Services, with a government-wide mandate to promote fairness, openness and transparency in federal procurement.

The ombudsman’s mandate compli-ments that of the Office of Small and Medium Enterprise (OSME), which helps companies engage the federal government to sell products or services. The Ombuds-man’s role is to help with disputes that result during the engagement process. They can also help point businesses in the right direc-tion and connect them with the appropriate contacts.

Brunetta’s position was created in 2006, pursuant to the Federal Accountability Act. Prior to the office opening in 2008 there was no dedicated body for oversight of federal procurement activities and no neutral

dispute resolution mechanism available for suppliers or federal departments.

In his presentation, Brunetta suggested that any member of The Vancouver Board of Trade that bids on federal government contracts should take advantage of a de-briefing. Debriefing is the process by which suppliers are given the results of the evalu-ation of their bid on competitive procure-ments. Information can be provided to a bidder by telephone, in writing or through a face-to-face meeting with the respective department.

“This process is very helpful in under-standing why a bid was unsuccessful and may help greatly in the success of future bids,” said Brunetta.

Brunetta urged members to contact the office toll free at 1-866-734-5169 or to visit www.opo-boa.gc.ca for more information.

Sean Lyons is team lead of the Small Business Council’s communications subcom-mittee. He is the owner of a Clean Technology business, Lotus Pro Water, which works with companies to eliminate toxic and costly cleaning chemicals from their facility opera-tions with a 100% chemical-free solution. Visit www.ozonecleanwest.com for info.

Small Business Council meets with federal procurement ombudsman

Despite the economic turmoil that continues to plague European markets, Canadian companies continue to thrive in the region.

Over the last five years, Canadian busi-nesses have invested in more than 350 projects in Europe and created more than 12,000 jobs, according to Marc Lhermitte, a partner at Ernst & Young based in Paris.

Canadian companies continue to make gains in Europe in areas such as sales and marketing, manufacturing and business services, he says. The stock of Canadian direct investments in Europe totalled more than $172.5 billion at the end of 2011, according to Canadian government sta-tistics.

In the recently published Ernst & Young European Attractiveness Survey, Lhermitte found that inward investment increased by four per cent in 2011. He also found that investors are confident about Europe’s future with 81 per cent saying they expect the region to overcome its current financial problems.

Bombardier, the Quebec-based aero-space and rail transportation company, is one of the biggest Canadian investors in Europe, creating 2,500 jobs over the past five years, according to Ernst & Young.

Since the company holds the largest market share in rail production worldwide

and Europe is their biggest market, the company needed to have a strong Euro-pean presence, says Chris Antonopoulos, the Berlin-based Vice-President of Sales for Bombardier Transportation.

He says that Bombardier Transportation has been resilient to economic turmoil largely because of its client base.

“About 90 percent of our customers are government-owned and they are investing a lot in rail and infrastructure to keep their countries from entering into recession,” says Antonopoulos. “That’s how we’ve been able to grow even during difficult years.”

Lhermitte and Antonopoulos offer three suggestions for Canadian companies on how to be successful in the European market.

1. Establish a business base in EuropeEven though Bombardier Transporta-

tion is a Canadian company, Antonopo-ulos says many Europeans view it as local because the company has production units, sales staff and research and development facilities based in Europe.

“It’s important to be seen as not just importing equipment but producing it locally,” he says.

The European Union offers a massive market for Canadian companies, with 27 member states and some 500 million people.

Proximity to this market helps with both selling products and trouble-shooting, An-tonopoulos says.

“The companies that are not setting up shop in Europe are having a very hard time,” he says. “You need to be close to the customer.”

2. Choose where to investLhermitte says that the “dynamic region”

of Central and Eastern Europe remains largely untapped by Canadian investors.

Over the past five years, only 10 per cent of Canadian investment has gone to coun-tries such as Russia, Poland, Romania, the Czech Republic, Hungary and Turkey.

Most Canadian projects are based in the United Kingdom, France and Germany, says Lhermitte. He says that this is largely due to historic links and a common language, as well as the qualified labour force and predictable business environment.

But Lhermitte says Canadian businesses should also consider Central and Eastern Europe because of the countries’ growing purchasing power and abundant natural resources.

3. InnovateAntonopoulos says Europeans put a

high value on innovation.“If you really want to be successful in

Europe, particularly in our field, it’s impor-tant to be innovative,” he says.

He credits much of Bombardier Trans-portation’s success to being seen as an “in-novation leader” in the rail industry.

“We are seen as contributing with employment and our products,” says An-tonopoulos.

Europeans are particularly interested in research and development done within Europe, he adds.

“They put a lot of emphasis on creating innovation within Europe so you really need to have a local footprint in a key industry,” says Antonopoulos. “That will show a com-mitment to the region and differentiate you from others — making you more of a partner than a supplier.”

For more information on doing business in Europe, read the Ernst & Young European Attractiveness Survey or visit Canada-EU Trade Agreement website.

If you are exporting to Europe it is your responsibility to ensure your products carry the CE mark. The Canadian Trade Commis-sioner Service has prepared a step-by-step guide to help simplify the process. Down-load your free copy or learn more at www.tradecommissioner.gc.ca.

This article first appeared on the Foreign Affairs and International Trade Canada website at www.international.gc.ca.

Europe is open for businesscanadian Trade commissioner Service offers tips for companies looking to enter the european market

1-888-423-8003

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