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Insight & Action

Breakpoint was founded on the notion that we could help people and organizations succeed by bringing them expert, candid advice and an outside perspective on their business. So whether you’re a C-suite executive who needs to think differently or a potential client seeking a new business partner Breakpoint offers a fresh perspective that helps to navigate the curves ahead.

 

It's the Right Time

“2022 was a turning point for the global economy. The war in Ukraine, the resulting sanctions on Russia and a significant slowdown in China have disrupted global growth in the past 12 months.”

What can we expect in 2023?

Whether or not there will be a recession, the consensus is that the economy is set to slow down in 2023. The slowdown is caused by the Bank of Canada’s fight against inflation to bring an overheating economy under control. However, there is still a lot of uncertainty about how the current economic conditions will respond to tighter monetary policy.

Even if economic uncertainty remains a major concern, labour shortages are the biggest challenge for businesses. Labour shortages will also affect wages, which skyrocketed in 2022 and are expected keep growing in 2023. We expect wage growth to average 4% in 2023, well above the pre-pandemic rate of 2.7%. Inflation expectations also exert upward pressure on wages ”. (source: BDC)

Now is the right time for organization leaders to inspire people to show up every day as the most impactful versions of themselves, inspiring those around them to do the same.

Michael De BonisLeadership, Growth, People, Strategy, Culture, change