A new species of worker is leaving its mark on the Canadian job market: the knowledge worker. Globalization, an increased specialization of trades and the diffusion of technology have made the knowledge worker an indispensable asset in Canada’s desire to modernize, innovate and ultimately expand its economy.
With the requisite skills, training and education needed to participate effectively in high-tech industries, knowledge workers are finding themselves in great demand.
Knowledge workers are distributed across a variety of industries. For example, though computer services technicians can find employment in the computer services industry, their skills are transferable to any number of industries such as engineering, manufacturing, wholesale trade, financial services, education, health and government services.
The increasing number of knowledge workers is making Canada a prime location for companies that are mulling an expansion or relocation of a high-tech facility in North America.
Numerous regions across Canada are creating technology corridors to attract clusters of companies. The Waterloo region of Ontario — Waterloo, Kitchener and Cambridge — offers a pool of highly skilled workers experienced in the automotive and automotive-related industries.
A major advantage for the Waterloo region is its post-secondary and training sector, including Conestoga College, Institute of Technology and Advanced Learning, the University of Waterloo, and Wilfrid Laurier University.
The institutions play a major role in the region’s automotive manufacturing sector and were part of the reason why Toyota Motor announced earlier this year that it will expand its plant in Woodstock, Ontario.
The automaker will build an assembly facility near its current manufacturing facility in Cambridge (about 25 miles away). About 1,300 workers will produce the RAV4 sport utility vehicle (SUV) at the new plant.
Toyota will invest $800 million (Canadian) in the new plant, which is expected to open in 2008 and will have the capacity to build 100,000 units annually. The plant will have state-of-the-art equipment and process controls.
The amount of students coming out of the Waterloo region’s colleges and universities was also a factor in the decision by CFO Sources to locate its Canadian headquarters at the Canadian Innovation Centre in Waterloo. The startup company provides integrated accounting solutions for mid-sized companies.
“We chose Waterloo because of my connection to Wilfrid Laurier University, the ease of service to the Greater Toronto area, the affordability of office space and the high quality of labor that is available,” said Khris Singh, project manager for CFO Sources and a graduate of the university.
CFO currently employs five workers, all highly educated with accounting designations, Singh said.
“We are a younger company in terms of the age of our work force,” he noted. “This is important for many of our clients who are striving for knowledge transfer and business continuity.”
Bill Elliot, director of business development for Canada’s Technology Triangle Inc., said the availability of accounting graduates from the region’s universities will attract more accounting companies in the future.
“International companies are looking at Canada,” he pointed out. “There is a cost benefit over the United States in the shared services center sector.”
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