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Bulletin Board

Bulletin Board is our weekly e-newsletter, designed to provide members with up-to-the-minute information on Board of Trade policy and advocacy activities, events, events, products, services and promotions. Bulletin Board is emailed to members every Wednesday at noon.

View the latest feature articles below, or take a look at this week's full issue

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This Week's News

Economy top of mind for Toronto voters: Poll

As Torontonians prepare to choose a new mayor and council in just eight weeks, what do they believe should be the next administration’s top priority?

According to a poll commissioned this summer by the Board of Trade, 45 per cent of the respondents believe that growing the economy and creating jobs should top the new mayor’s to-do list.

Released on August 27, the poll is a key component of the fourth theme of the Board’s year-long VoteToronto2010.com campaign: Improving civic democracy. Download your copy of Improving Civic Democracy: The Poll now.

Ten years ago, amalgamation increased the size of our municipal government. At the same time, it reduced opportunities for the public to become involved in local decision-making. In the absence of public dialogue and transparency, citizens can be hard-pressed to gain a sense of the City’s current priorities and its path for the future.

If residents do not feel that they have a stake in the City, they will not take part in the electoral process. Voter turnouts of only 39.3 percent in 2006 and 38 percent in 2003 are a very telling testament.  This time around, candidates should have no doubt about what voters are now telling them.

“I think it is the first time in memory that people will say municipal voters are putting the economy first,” said Board of Trade President Carol Wilding in an interview with The Globe and Mail. “If you cast your mind back to some of the other elections and what were the ballot questions – whether it was the bridge [to the island airport in 2003] or certain services – we’ve never ... seen the economy put as that ballot question.”

The poll was designed and analyzed by University of Toronto professor Peter Loewen and conducted by Innovative Research Group Inc. Between July 22 and July 30, 506 randomly selected Toronto residents were contacted by phone. Respondents were asked to comment on the level of engagement of Toronto’s citizens in the electoral process and to identify the issues that would motivate them to vote.

Here’s a sample of what they said:

  • 43 per cent believe City Hall has a bigger effect on their day-to-day life than either the federal government (25 per cent) or the provincial government (32 per cent)
  • More than 80 per cent said City Hall has a significant impact on Toronto’s economy
  • 45 per cent said the mayor's primary focus should be growing the city’s economy and creating jobs in Toronto

Released last Friday, the poll results arrive just two weeks before leading mayoral candidates are called upon to state publicly how they will achieve what Torontonians are clearly looking for. Prosperity and the Economy is the theme for the first installment of Toronto Debates 2010, a series of three public debates designed to spark serious discussion about complex, important issues that candidates would face if elected the next mayor of Toronto.

Taking place Wednesday, September 8 at the MaRS Centre, Board of Trade President Carol Wilding will moderate the debate that will ask candidates to outline how they would address the prosperity gap in our region and promote economic growth. To learn more about these issues, read the discussion papers authored by local thought-leaders who understand the challenges and our future options.

Do you share your fellow citizens’ concerns about growing the economy? Share your municipal priorities with the Board by writing to us at haveyoursay@bot.com, or join the public discussion at VoteToronto2010.com. Results of the member poll on Improving Civic Democracy will be reported in an upcoming issue of Bulletin Board.

Click the links below for more coverage of the Board’s Improving Civic Democracy poll.

Torontonians' priority: Economy and jobs, not taxes
CTV Toronto

Want To Win More Votes? Focus On The Economy!
AM 640


August 25, 2010

Do you pay enough?

With the economy on the upswing, competition for top talent is heating up. Attracting the best and brightest is vital to the success of growing companies. Retaining, motivating and rewarding the people you have is equally critical. At the same time, you need to keep costs in check.

How will your company keep up? Arming yourself with the most up-to-date salary and benefits data can give you a real competitive advantage. The Toronto Board of Trade’s 2010 Compensation, Benefits and Employment Practices Reports are just the tools for businesses looking for the latest market data specific to the Toronto region.

“In our client base, we find that organizations are often challenged to find relevant compensation data tailored to their needs,” says Steven Osiel, Vice President, Total Rewards with Pal Benefits, sponsor of the 2010 Reports. “Pal Benefits is proud to support the Board’s Compensation, Benefits and Employment Practices Reports, as these tools provide key data that can help businesses compete in today’s limited talent market.”

The Board’s Reports can help companies of all sizes, in all sectors set budgets, create recruitment plans and develop winning HR strategies. This year’s Reports show that many companies are investing more to attract and retain the talent they need.

For example, 59 per cent of Survey respondents reported giving salary increases to employees in the 12-month period ending April 1, 2010. The future appears even brighter, with more than one-third of these businesses (34 per cent) forecasting even higher increases in 2011.

Organizations are also acknowledging improved corporate performance with bonus programs, says Mary Jo Kavanagh, the Board of Trade’s HR Surveys and Programs Manager. “While many employers were still faced with tough decisions, they continued to reward those who are moving the organization forward in better economic times.”

The 2010 Reports also reveal that growing Toronto companies are spending an average of $2,200 per employee per year on professional development, up from $1,700 last year. A hefty price tag, but a necessary investment to ensure that you optimize productivity show employees you care about helping them succeed and grow. (Learn more now about the Board’s Fast-Track Online Learning program for members, delivered in partnership with Ryerson University and included in the cost of selected memberships.)

Shelly Woods, an HR consultant, has been using the Board’s Survey Reports for the last eight years and recommends them to her clients. “The data provides a solid, apples-to-apples comparison of a range of positions in Toronto,” she explains. “It also provides a range of metrics. For example, for a specific position, it offers the same data with and without bonuses.”

In addition to ensuring your compensation programs are competitive, Osiel warns that businesses need to be wary of overpaying. “At a modest 1% overpayment, a company with 100 employees, with an average salary of $40,000, will overpay a staggering $400,000 annually. Unnecessarily overpaying employees can drastically increase expenses and can jeopardize your entire compensation strategy.”

The Board produces a total of six easy-to-use reports. The five Cash Compensation Reports include data on benefits and perquisites, salary adjustments, bonus and incentive plans and more for a wide range of positions and functions. One Benefits & Employment Practices Report identifies current trends in benefits and employment practices, as well as strategies for controlling and reducing costs. Woods appreciates that the Reports are “very thorough while being easy to comprehend.”

Get all the details about the Board’s 2010 Compensation, Benefits and Employment Practices Reports at www.bot.com/surveys. To order, contact the Surveys Hotline today at 416.862.4515 or email surveys@bot.com.

Want to learn more about the latest trends in compensation? Join PAL Benefits and the Board of Trade on Wednesday, October 13 for an exciting breakfast session reviewing and interpreting the Board’s latest findings. RSVP to info@palbenefits.com or call 416.862-4515.


August 18, 2010

Boost your business development efforts now

Is cold calling still relevant? Does direct mail really work? Experts say both can add significant value to your business development efforts. The Board’s latest editions of Contact Toronto and the Executive Mailing List can help.

“Cold calling is still a basic building block of sales,” says Nigel Miller, Principal Consultant with MoreSALES.ca and a member of the Board of Trade. “Organizations looking to build sales need to incorporate some cold calling into their business development program.”

The difference these days, Miller notes, is that you can’t simply pull out a phone book and start calling. Business owners and sales professionals need to do their homework to identify the right contacts and to present an offer that will resonate with the target customer.  “You need to be specific with your offer and to have a story that links you to the person you are calling.”

Bill Mackrell, Vice President, Marketing and Mailing Solutions with Pitney Bowes Canada, adds that direct mail also continues to yield strong results.

“Direct mail represents an effective and efficient communication option that allows companies to move swiftly and, with the right data, communicate in a highly targeted fashion,” Mackrell says. “According to The Direct Marketing Association, every dollar spent on direct mail advertising brings in $11 in sales — more than twice the return generated with any other method.”

The Toronto Board of Trade helps eliminate the guesswork from your cold calling and direct mail strategies with the 2010–2011 edition of Contact Toronto, the most up-to-date annual directory of executive decision makers in the Toronto region.

Comprehensive and accurate, this sales, marketing and research tool identifies the region’s 3,500 largest businesses and includes over 15,000 executive contacts from all business sectors across the region.

“If I’m looking for prospects in a particular sector, at my fingertips I have contact information for key people in the GTA and beyond,” says Greg Van Slyke, Senior Business Development Director for Human Solutions and Chair of the Board of Trade Ambassador Committee. Van Slyke, who has purchased Contact Toronto for the last four years, uses Contact Toronto to build and update his prospect list annually.

An essential resource for sales and marketing professionals, recruiters and job seekers, Contact Toronto is a valuable tool that can help you:

• identify new business leads
• prepare accurate, targeted mail and call lists
• conduct market research
• assign sales territories

Board of Trade members pay only $99 for a printed copy of Contact Toronto. An excellent value, says Van Slyke, compared to other lists. “Contact Toronto is a cost-effective solution that provides accurate, useful information,” he says. “Other lists I’ve used in the past only provide ancient contact information.”

If you are looking for an electronic option, the Board’s Executive Mailing List is your solution.

The Executive Mailing List gives you immediate access to the same data found in Contact Toronto but in an easy-to-import electronic format. Build your next targeted marketing program with reliable, company-verified contact data. Completely customizable, the list includes up to 10 positions for each company, including CEO and president roles and sales and marketing functions.

“I particularly like the electronic format [of the Executive Mailing List], which allows me to view the data any way I want,” Miller says.

Pre-order your copy of Contact Toronto today. Email publications@bot.com, or download the order form.

For your personalized Executive Mailing List quote, call 416.862.4538, email kevin@bot.com or visit www.bot.com/mailinglist.


August 11, 2010

What would your candidate do? Find out at Toronto Debates 2010

With the municipal election just around the corner, the Toronto Board of Trade is teaming up with The United Way, Toronto Community Foundation and Toronto City Summit Alliance to present Toronto Debates 2010, a series of three debates designed to spark meaningful dialogue on the issues Toronto’s next mayor must address in advance of voting day.

Founded by Barbara Caplan, David Crombie, Michael Cruickshank, Karl Jaffary and John Sewell, Toronto Debates 2010 will engage front-running mayoral candidates in intelligent debate on the major issues facing the City of Toronto.

Take part in any or all of these exciting opportunities to hear Toronto’s leading mayoral candidates tackle our city’s most pressing challenges:

Wednesday, September 8, 2010
MaRS Centre
, 101 College Street
Prosperity and the Economy: Coming out of recession, how will the new mayor address the prosperity gap in our city and promote economic growth?

Wednesday, September 22, 2010
York University
Finance, Transportation, and Managing the City
: Facing a budget deficit, what will our city’s next mayor do to improve the municipal services that matter most to Torontonians?

Thursday, October 7, 2010
St. Lawrence Centre for the Performing Arts, 27 Front Street East
Sustainability, the Environment, and Community
: What will the new mayor do to improve sustainability and engage Torontonians in their vision for the health and design of the city?

Learn more about these vital issues by downloading thought-provoking discussion papers, authored by some of Toronto's leading thinkers.

Toronto Debates 2010 is a key component of the Board’s ongoing VoteToronto2010.com campaign. This non-partisan campaign has played a key role in defining the critical challenges facing our city, driving debate and identifying potential solutions. Most important, the campaign aims to mobilize all citizens to get involved. Toronto Debates 2010 provides a vital opportunity for all Torontonians to do just that.

All Board of Trade members are invited to attend the debates. Share this invitation with your colleagues, friends and family. No pre-registration is required, but space is limited. Be sure to arrive early to secure your seat.

Visit TorontoDebates2010.com for full details.


August 4, 2010

American Airlines® joins Board Advantage Savings Program

Many businesses rely on travel to connect with customers and prospects. But air travel costs can add up fast, especially for small to mid-sized businesses. Now, as part of the Board Advantage Savings Program, Toronto Board of Trade members have a new way to save on travel.

American Airlines, a new Champion Member of the Board of Trade, is helping businesses curb travel costs with its innovative Business ExtrAA® program—a free travel rewards program that helps small to mid-size businesses earn and redeem points for over 50 different awards.

As a Toronto Board of Trade member, you can jumpstart your Business ExtrAA membership by enrolling in the program today and earning 500 bonus points—that’s enough points for an Admirals Club One-Day® pass! Plus, program enrollment is free and travel award tickets can be redeemed for as low as 2,000 points!

While most points-based loyalty programs benefit individual travellers, Business ExtrAA is designed to reward businesses for travel on American Airlines Plus, while the company earns points on everyday business travel, the individuals can still earn their American Airlines AAdvantage® miles. 

As a Business ExtrAA member, company points add up quickly and can be put toward exciting travel rewards including:

  • Round-trip tickets worldwide in first, business and economy cabins
  • Next cabin upgrades
  • Admirals Club® memberships, One-Day passes and conference rooms
  • AAdvantage® Gold status
  • And much more!

According to Paul Swartz, Business Development Manager for American Airlines, businesses are using their points in innovative ways. Current collectors have offered up their Business ExtrAA points to reward the “Employees of the Month” or to save on last-minute ticket purchases. “Business owners can use these awards to suit their business needs, whether they are looking to reduce travel costs or reward clients and employees.”

To enroll today and take advantage of this special bonus point offer for Toronto Board of Trade Members, visit www.businessextraa.com. and use the Promotion Code: TBOT500.

All you have to do is book and fly your next flight on American Airlines®, American Eagle® or AmericanConnection® service within 90 days and your company will be on its way to earning rewards for business travel.

For more information, visit www.businessextraa.com or login into your Board of Trade account.


July 28, 2010

TTC should keep PRESTO on track: Board of Trade

In a letter to TTC Chair Adam Giambrone last week, Board of Trade President and CEO Carol Wilding urged the TTC to focus its energy and resources on implementation of the PRESTO fare collection system instead of sourcing other methods.

“The exploration of other technologies is a recipe for further delay at a time when we need immediate and tangible improvements to regional transit integration,” Ms. Wilding said. “Three years after the TTC acknowledged the benefits of PRESTO technology, and with all other local systems having reached agreements, the priority should be for the TTC to finalize the PRESTO agreement and complete its implementation.”

In November 2009 the TTC approved adoption of the PRESTO fare collection system across its entire TTC network, after having studied the system for several years. Councillor Giambrone’s recent comments that he seeks further study and proposals are troubling. The user-friendly PRESTO system will give transit riders a long-awaited method for fast, convenient payment and seamless travel throughout a fully integrated regional system.

“Implementing a parallel or alternate payment technology only frustrates the customer convenience objective, regardless of the relative merits of one technology or the other,” Ms. Wilding added. “There are also significant cost implications associated with exploration of another technology at this late stage. Most important, the TTC stands to lose significant investments from senior levels of government if it doesn’t honour its commitment to implement PRESTO.”

The TTC’s November 17, 2009 report indicates that a TTC-owned and operated smartcard system would cost approximately $490-million. Implementation of the PRESTO system is being offset partially by funds from the federal and provincial governments. At the same time, the vast majority of provincial and federal funding for capital projects is contingent on the TTC’s implementation of PRESTO.

Since 2003, the Toronto Board of Trade has been the leading advocate for an integrated "smartcard" payment system and a regional solution to crushing traffic congestion and gridlock – problems identified by our members as the city’s number one barrier to competitiveness and prosperity. By delivering a better customer experience, the PRESTO card offers the potential to increase transit ridership, a key element in reducing vehicle traffic congestion throughout the region.

The Board’s strong defense of the regional benefits of PRESTO drew coverage of this priority issue in the Toronto Star.

Would a single PRESTO card help you and your team move more effectively throughout the Toronto region? We want to hear from you. Take our poll now at VoteToronto2010.com. You can also share your input with us at haveyoursay@bot.com.


July 21, 2010

Board of Trade seeks solutions from federal government on census, G20

This week your Toronto Board of Trade joined a broad coalition of leaders in voicing concern over the federal government’s decision to discontinue the mandatory long-form census questionnaire and replace it with a new voluntary form.

The Board believes robust, accurate census data are essential for Canadian businesses, as well as public policy development and economic and social science research. Survey data are used by not-for-profits and corporations large and small for market research, business planning and targeting programs.

As an organization engaged in public policy, the Board itself has leveraged Canadian census data to deliver groundbreaking analysis of Toronto’s commute times and of the difficulties foreign-trained professionals have experienced in being integrated effectively into our economy.

In a letter to federal industry minister Tony Clement, co-signed by Board President Carol Wilding and leaders from banking, city planning, health and social services and many other sectors, the coalition called on the federal government to reconsider its decision to end the long-form census. The group also requested the opportunity to meet with Minister Clement to help find a solution that meets the needs of all Canadians.

Speaking to The Globe and Mail, Ms. Wilding highlighted that “all urban centres across Canada have similar needs for census data.”

Besides the potential loss of available data, the move to a voluntary survey is also expected to significantly increase costs and bring data quality into question. Statistics Canada has estimated that the shift to a voluntary household survey will cost $30 million more than the current long-form census.

The Board is committed to speaking to all levels of government about issues that impact business in the Toronto region. This past week also saw the Board of Trade follow-up with finance minister Jim Flaherty following member feedback around compensation concerns for businesses impacted by the G20 Summit in Toronto. In a letter to Minister Flaherty, Ms. Wilding urged the federal government to implement a program that will compensate businesses for G20 related losses.

As your Board of Trade, we want to know how these issues are impacting you and your business. Send your feedback and comments to haveyoursay@bot.com.


July 14, 2010

New CICA report shows diversity builds your bottom line

Employee diversity is an issue that has long topped the human resources agenda. But many corporate leaders still link diversity more closely with maintaining a positive corporate image than with boosting their bottom line. A new report from the Canadian Institute of Chartered Accountants (CICA) highlights the direct connection between diversity and business success.

Entitled Diversity Briefing: Questions for Directors to Ask, the CICA’s Risk Oversight and Governance Board commissioned the publication to “raise awareness of the importance of diversity, both within organizations and on boards,” said Giles Meikle, CICA’s Interim Chair, Risk Oversight and Governance Board.

According to the report, enhancing diversity — which is defined to encompass race, gender, age, culture, personality, skill, training, educational background and life experience — is an effective business strategy that has the potential to encourage innovation and directly impact a company’s results.

“When managed properly, diversity can provide an important competitive advantage for business,” said the report’s co-author, Fiona Macfarlane, Managing Partner, People, Ernst & Young. “The influence of a variety of perspectives and viewpoints can contribute to flexibility and creativity within organizations, which can help them thrive in a complex and competitive global economy.”

While our nation is known for its rich tapestry of ethnicities and cultures, Canadian companies rarely reflect this diversity in their corporate leadership. According to the report, visible minorities comprise only 5.2% of senior management in large companies and 1.6% of executive management in the public sector.

So how do businesses get better at diversifying the executive suite? Macfarlane says the tone must be set from the top.

“As part of their responsibility to oversee strategic direction, financial performance and risk management, boards of directors should understand how diversity affects key areas of their mandate,” Macfarlane says. “Directors should also be cognizant of the importance of diversity is on the board itself. Board diversity still presents a challenge for many organizations.”

A recent Ernst & Young survey entitled The new global mindset: Driving innovation through diverse perspectivesfound that boards of directors seldom reflect the global reach of their businesses. Almost half of the companies operating in 25 or more countries admitted that they had at most only a few foreign nationals around the boardroom table.

The Board of Trade and its members are committed to leveraging the diversity of Toronto’s business community. The Board is proud to count amongst its members some of Canada’s Best Diversity Employers and winners of the Toronto Region Immigrant Employment Council (TRIEC) Immigrant Success Awards.

As part of the VoteToronto2010.com campaign, the Board released Lifting All Boats: Promoting Social Cohesion and Economic Inclusion in the Toronto Region. This discussion paper examines the hard costs of inequitable access to affordable housing, community services, public transit and employment and explores the economic advantages of creating cohesive, inclusive communities and effectively leveraging the talents of new Canadians.

Like the VoteToronto2010.com campaign, the CICA’s Diversity Briefing is intended to spark meaningful dialogue on an important issue to that matters to business and all members of the community.

Download Diversity Briefing: Questions for Directors to Ask.


July 7, 2010

Build your business now with Summer Networking

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The summer months are often considered a slower quarter in the corporate world. For Toronto Board of Trade members like Stephanie Stoute, the Top of Toronto Summer Networking Series is a great way to “maintain momentum and prepare yourself for upcoming business initiatives.”

Last night, the Board’s Top of Toronto Summer Networking Series took to the water for a sold-out cruise on the Mariposa Belle. More than 100 professionals enjoyed an evening of relationship building and a scenic tour of the Toronto Islands.

As co-founder of Property Edge Real Estate Services, a boutique Toronto brokerage servicing both commercial and residential clients, cruise attendee Stephanie Stoute says she often finds it hard to fit networking into her schedule during peak business periods. For her, the summer months are the ideal time to leverage this essential business-building activity. “Often times the summer events are more intimate, allowing you more opportunity to engage in thought-provoking conversation while truly learning the business and specialties of the people you are meeting,” she says.

In our 2009 Member Survey, members ranked networking as the most important benefit available to them through their Board of Trade. The Board responded by creating Top of Toronto networking, part of the RBC Business Owners Program.

The Top of Toronto event series offers an array of networking opportunities every month throughout the year, mainly outside the downtown core. From early morning breakfast sessions to more casual after-hours networking at city hot spots, Top of Toronto events give members and guests a wide range of opportunities to connect with fellow professionals, business owners, industry experts and influencers.

Longtime Top of Toronto participant, Francis Wong, Managing Director, Sharp Reminder Premium & Incentive, said the summer series offers an informal and relaxing way to meet new contacts from various business sectors. Even in today’s digitally connected world, he noted, in-person contact remains a powerful business building tool.

“My goal is to establish two to three quality connections at each event,” he said. “If your prospects value personal relationships as much as you do, face-to-face networking is the only way to establish meaningful and memorable relationships.”

Don’t let your business development efforts slow down this summer! Now is the ideal time for you to prepare for a busy fall season by forging new connections.

View our complete Summer Networking lineup here, and call 416.862.4500 to register.

 

World Cup fever fuels business in Toronto

South Africa may be over 13,000 kilometres away, but that hasn’t stopped Torontonians from showing their passion for “the beautiful game” during the 2010 FIFA World Cup.

“It’s the biggest sporting event in the world, even bigger than the Olympics,” says Board of Trade member Chris Mills, General Manager at Turf Lounge on Bay Street.   “Fans are now consistently engaged, as businesses have recognized the potential for sales and growth. Viewing opportunities are no longer concentrated in certain locations.”

Toronto, Mills notes, has much to offer the avid football fan:

·         Places to celebrate — once upon a time St. Clair Avenue West used to be a strictly Italian celebration zone, while College street remained predominantly a Portugal fan’s domain; in 2010 all flag colours can be seen waving throughout the city’s streets after a win.

·         Extended legal drinking hours led by Deputy Mayor Joe Pantalone, City Council succeeded in having the Alcohol and Gaming Commission of Ontario allow Torontonians to enjoy a cold one while cheering their favourite team, starting at 10 a.m.

·         No shortage of places to view the games with the city in the grips of a heat wave, soccer enthusiasts are thankful that they can cheer their chosen team in the cool comfort of more bars, restaurants and other public venues than ever before

While Turf Lounge did not opt for extended hours of liquor service, Mills says customers routinely come in to catch 45 minutes before heading back to the office. CBC is streaming all games online, and Mills knows Torontonians are tuning in at work. “We have offices above us, and we can hear them cheering.”

In a hockey-obsessed city like Toronto, why does a game played predominantly in Europe, Asia and Africa hold such wide appeal? Mills traces it to our multicultural makeup.

More than 46% of Toronto residents were born outside Canada, and many have brought their love of soccer with them to their adopted home. Considered “the world’s game,” soccer is one of the most affordable sports to play and remains a major pastime for many across the globe. Our city’s own Toronto FC home games are consistently sold out, with an average attendance of over 20,000 and an ever-growing season ticket waitlist.

While the economic impact of the 2010 World Cup on Toronto’s businesses won’t be fully measurable until after the golden trophy is lifted, the beautiful game has already given Torontonians plenty to cheer about.

Chris Mills invites all Toronto Board of Trade members to watch the 2010 World Cup final at Turf Lounge on Sunday, July 11, at 2:00 p.m.




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