“When there is reluctance from global talent to relocate to Canada, it is usually relative to where they may be relocating from and oftentimes financially motivated,” he explains. “Canadian salaries are generally lower than those in the US and many European countries, and our housing prices are often, but not always, higher.”
Still, he emphasizes that Canada has strong selling points. “There are a lot of benefits of relocating to Canada that global talent can and do find attractive, such as the quality of life, safety, the education system and universal healthcare.”
For many owners, especially founders, succession planning can be deeply personal. Cameron often sees leaders struggle to step back, even after identifying a successor.
“Finding a successor can often feel very personal, especially for leaders who’ve held their position for decades or maybe even founded the company,” he says. “Many times, business owners hire or promote a successor with the honest intent to step back or retire, but they ultimately have difficulty relinquishing the CEO role and responsibilities.”
This can lead to frustration and a leader who quits. Cameron emphasizes that successful succession planning is a long-term process, not something that can be achieved in a few months.
