More than a paycheque

Hey there, time traveller!
This article was published 20/03/2023 (401 days ago), so information in it may no longer be current.

Tuesday marked a milestone for Cardinal Capital Management, which was celebrating a spot on the latest Manitoba’s Top Employers list.

It’s among the smallest of 35 companies to receive the title in an ever-competitive landscape where employers are trying to attract talent.

“We didn’t really have any reason to not try for it,” Emily Burt, Cardinal’s executive vice-president, said of the company’s decision to apply in the competition.

The financial services firm had never vied for a spot on the prestigious list before. It’s less about attracting new staff than seeing how the company stacks up against its peers, Burt said.

Still, Cardinal is growing.

It has more than doubled its size in roughly three years, from 40 to 83 employees. During the pandemic, it opened offices in downtown Winnipeg, Toronto, Calgary and Brandon.

It’s entirely employee-owned, which helps with staff productivity, Burt said.

“Starting as a small firm… you don’t see yourself as one of the big players in town,” she said. “(Making the list is) a little bit of validation that the things that we’re doing are right.”

Cardinal shares the title with major operations such as Manitoba Hydro, True North Sports and Entertainment and Canada Life.

Mediacorp Canada, the organization behind the list, evaluates companies on a variety of factors, including benefits, the workplace and community involvement. It released its 17th edition Tuesday, co-publishing with the Free Press.

Receiving the designation “absolutely makes a difference” when it comes to drawing workers, said Jim Rediger, the president and CEO of Westoba Credit Union.

The Brandon-born institution made the list for the first time in its 60-year history.

“We’re very proud,” Rediger said, adding the honour will tie in with the company’s 60th anniversary celebrations in October.

Westoba Credit Union has evolved to meet employees’ expectations, Rediger said. It means hybrid work, flexible hours and a shortened work-week program. Staff get as many volunteer days off as their department will approve — that’s not new, though, he said.

“I think whenever people are looking to join an organization to work, there’s always trepidation… to make sure it’s right for you,” he said. “I think having an outside organization to verify (your company)… can take away the risk.”

Access Credit Union made the list for the ninth year in a row.

“We have the Top Employer Award in Manitoba to thank for aiding in the recruitment and retention of our very important team members,” Access chief marketing officer Adam Monteith wrote in a statement.

More than 60 per cent of Manitoba organizations are struggling with recruitment and retention, according to a recent survey by Chartered Professionals in Human Resources Canada.

There’s been a “mentality shift” among businesses, said Ron Gauthier, the CEO of CPHR Manitoba.

“Organizations need to sell individuals as to why they want to come and work for them, as opposed to being a buyer where… ‘We’re doing you the favour by giving you a job,’” Gauthier said.

The top three retention strategies include flexible work options, evaluating compensation and developing onboarding programs, CPHR findings suggest.

Cultural initiatives, recognition programs, wellness packages and paying for further education are also popular among companies, Gauthier noted.

Making the Manitoba’s Top Employer list could aid in attracting talent, especially with younger generations, including millennials and “zennials,” Gauthier said.

“That generation tends to do a little bit of research before they decide if they want to apply,” he said. “(They) look to see if the organization’s values align with their values.”

The Manitoba’s Top Employer website lists different perks from each company. Several offer donation-matching or time off to volunteer. Roquette Canada in Portage la Prairie has wellness webinars on Wednesdays; True North puts on a learn-to-play hockey program.

Cardinal gives current employees $1,000 per successful worker referral.

“Some of our best hires have been from the great people that we already have here,” said Evan Mancer, the company’s president.

Cardinal switched to an entirely employee-owned model in 2019. It pays its owners dividends, Burt said.

A new organization — the Canadian Employee Ownership Coalition — launched in January, promoting employee ownership trusts as a tool to create a stronger economy.

“I think (employee-owners) have much more of a vested interest in the reputation of the firm, in the service we deliver, in the growth of the business,” Burt said. “It’s just a totally different mindset.”

This year’s list of Canada’s Top 100 Employers, also compiled by Mediacorp Canada, has yet to be released.

gabrielle.piche@winnipegfreepress.com