New & Noteworthy from Remillard Consulting Group

Mental Health and Lost Productivity: A Perfect Storm?


In recent years, society has become increasingly sensitized to issues surrounding mental health. As a result of this attention, there has been an upsurge of public and private sector resources designed to grapple with the multi-dimensional   challenges posed by mental illness.
A relatively nascent, but rapidly expanding, body of Canadian and international commentary deals with lost labour productivity (lost output per unit of labour input) in the economy caused by mental health issues. The consensus view amongst those linking mental health with productivity is that society is facing a large and growing problem. And, consequently, it is deemed to be worth devoting significant public and private sector resources to treating the mental illnesses that are serving as a drag on productivity in the workforce and in the economy as a whole. The precise magnitude of the productivity shortfall remains uncertain because of the various methodologies employed and the different populations assessed over multiple time-periods that are covered in individual studies.
This paper seeks to establish beyond a reasonable doubt that lost productivity attributable to mental health challenges is considerable in magnitude, what in the private sector would be labelled ‘material’, and has indeed been increasing in Canada and elsewhere. What’s more, traditional approaches to dissecting the individual components of productivity have tended to ignore the mental illness factor which does need to be taken into consideration by analysts more rigorously in future. Consequently, the eruption of mental health issues may be contributing to the productivity paradox that has emerged in recent years. Fundamentally, the paper argues for the importance of determining the true measure of the present and likely future lost productivity attributable to mental illness given the substantial commitment of public and private resources as well as the tendency of analyses to-date to simultaneously underestimate the absolute magnitude of that loss and overestimate its impact relative to the size of the economy and to the influence of other drivers that may more readily boost productivity.
Public and private resources have been mobilized in the battle against mental illness with the express purpose, amongst others, of improving productivity but with less than entirely clear results so far. It also appears that a division of labor might be emerging between the public and private sectors as the public sector focuses on treating those with mental illness while the private sector tends to concentrate its efforts on protecting and enhancing the well-being of the remaining, mentally healthy work force.


Commentary_466_coverGovernment Intervention in Venture Capital in Canada: Toward Greater Transparency and Accountability
C.D. HOWE Institute commentary NO. 466

Canadian governments have created a plethora of agencies, programs and tax incentives for venture capital that have mushroomed over the years. Improving the quality of venture capital policy will provide a win-win outcome for the wider public, government and the venture capital industry itself. Richard Rémillard






Securities Crowdfunding Breakthrough
On May 14, 2015, six Canadian provincial securities commissions smartly moved to the forefront of debt and equity crowdfunding in North America by issuing the rules under which start up and early-stage companies can tap this new source of capital via funding portals.


Why are Canadian venture capital assets struggling so mightily?
 The paltry returns have generated much debate. Some point to the industry’s greater tolerance for backing “B-grade” management teams in portfolio companies, rather than the “A-grade” teams U.S. venture capital funds require.


InsidePolicy-PDFCanada Needs a Financial Innovation Institute
Less visible to regulators and governments than the traditional areas of risk management has been the increasing threat posed by inattention to the impact of super-regulation on innovation in financial services.


HouseofCommons-FinanceCommittee-SubmissionSubmission to the House of Commons Finance Committee
Letter from RCG in response to the committee’s invitation to the public to submit proposals as part of its pre-budget consultations process…


RichardRemillard_smNCFA Welcomes Richard Remillard to NCFA’s Advisory Board
As a Special Consultant to NCFA Canada, Richard will assist the Association to strategically grow Canada into a world class Crowdfunding Centre and help strengthen and integrate crowdfunding markets into the existing eco-system.


FutureofPCThe Future Conditional of Private Capital Markets
Predicting the future can be a hazardous undertaking, doomed to futility even. As Sophocles put it in Oedipus Rex, “No skill in the world, nothing human can penetrate the future.”

Investor-and-Money-Tree-300x200Two Ships Passing in the Night: Wealth Management and Venture Capital
The fundraising challenges facing the Canadian venture capital (VC) industry are well known and widely acknowledged. Institutional investors and retail investors alike have been shunning the asset class, causing governments to step in and fill the gap. 


PCMA&RR_logoPCMA ANNOUNCEMENT: New Chair and Board of Directors
The Private Capital Markets Association of Canada (PCMA), is pleased to announce the election of its first Western Canada based Chair and the election of 11 new members of its national Board of Directors, including Richard Remillard, President of Rémillard Consulting Group.