Regulatory recharge: Unlocking talent and culture strategies for success

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.

Meeting the talent demand

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.

Navigating regulatory resilience

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.

Recruitment

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?

• Modernizing workforce competency expectations to strike a balance between subject-matter expertise and broader skills
• Creating opportunities for current and potential employees to develop their skills and gain valuable experience through work programs such as co-ops, internships, and secondments
• Implementing outreach and assessment approaches that cast the net more widely and attract a more diverse set of candidates.
  

Workforce development

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?

• Embracing the dynamism and renewal that comes with movement both in and out of the organization
• Investing in frequent, shorter, sharper learning activities rather than lengthy training
• Encouraging individual growth and accommodating more fluid employment patterns among staff.

Organization of work

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?

• Offering hybrid and remote work options to facilitate a sense of agency for staff—supporting a healthy work-life balance'
• Adopting project-based approaches that unite teams of colleagues with diverse experiences and skills to tackle specific priorities and break organizational silos
• Implementing risk-based approaches that help ensure resources are invested into areas where impacts are likely to be greatest
  

Charting the path to success

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.