In a world where the pace of innovation and competition for talent are at an all-time high, regulatory leaders have an opportunity to employ a set of strategies to build organizational commitment, creativity, collaboration, and confidence.
Effective people and culture strategies will help regulators deliver their mandates today and in the future. Based on our conversations with a range of regulatory leaders and work with regulators across Canada, we’ve identified a variety of best practices that will foster a strong sense of purpose among employees; a greater, diverse, and agile workforce; and sustained performance improvements. Let's explore how regulators are modernizing their approaches to talent and culture.
Regulators are facing significant people and culture challenges in the workplace. How, when, and where a job is done continues to evolve, and there are unique dimensions to these issues within the regulatory space. As a result, regulatory departments, ministries, agencies, and colleges must modernize their current strategies for attracting talent and fostering an inclusive and nimble workplace culture.
Regulatory leaders are using a range of strategies to address talent and culture challenges. These strategies will foster a committed and agile workforce that is able to effectively deliver organizational mandates in the face of rapidly changing realities.
In today's regulatory landscape, building diverse teams with a wide range of skills and knowledge is crucial. By valuing a broad spectrum of backgrounds and perspectives, and expanding the lens on job requirements, regulators can continue to attract and develop the team they need for effective governance.
What can this look like?
To perform effectively, new and current employees need to stay up to date with the rapid, constant innovation in technology and business models. Regulators can super-charge their talent development efforts by embedding learning into job activities, while nurturing a culture that adapts nimbly to change.
What can this look like?
Regulatory bodies are addressing talent and culture challenges by considering how, when, and where work is performed. Updating strategies to create a more dynamic and engaged work environment is crucial for retaining current, and for recruiting prospective, employees.
What can this look like?
Regulators play a critical role in protecting the public through effective and efficient rule-making, licensing, and compliance monitoring in the face of dynamic technological and business model changes. Through a range of strategies and best practices, regulators can address talent and culture issues and recharge their organizations. The journey to an increasingly motivated, diverse, and adaptable workforce starts now.