President’s Holiday Message – 12.07.21
Dear Board Members:
As we all continue to assess the pandemic impact on our lives, we have the unique opportunity to consider our legacy and how it “lives” beyond us in those we touch. Part of that living legacy will be in the communities that we steward and care for together.
This stewardship has not been an easy task to volunteer for when so much else in our larger world has been uncertain and charged, alongside the additional ripple effects of the pandemic and near-term ambiguity around inflation, labour markets and supply chains.
Inflation reached an 18-year high in September at 4.4% and is increasing both service and product pricing through at least 2022. The Bank of Canada, helmed by Governor Tiff Macklem, is expected to raise the BoC inflation forecast and to substantively end stimulus from its pandemic-era bond buying program, which is an initial move toward the first interest rate hike since October 2018.
Statistics Canada says the labour market added 157,000 jobs in September, bringing employment back to February 2020 levels for the first time since the start of the COVID-19 pandemic. Depending on the pace of the pandemic recovery, we are anticipating continued strain on service industry labour availability with service organizations working to re-open, where possible, in the coming months. At Associa, we are diligently working to hire and retain the best staff in the industry, while recognizing the broader labour market dynamics at work. If a staff transition does occur for your community, we will work to make the transition as effective as possible, in order to minimize the disruption you may experience.
Disruptions due to port closures, factory shutdowns, product halts and labour shortages have adversely impacted the global supply chain, which could realistically take through the 3rd quarter of 2022 to fully resolve. We will continue to work closely with you and your fellow Board Members to address the cost and delivery pressures this current environment presents to us all. We appreciate your partnership and solution mindset in meeting these challenges.
In addressing the stress and tension this pandemic has introduced, we would offer that it is in times like these that we can hold tight to the things that unite us and give us purpose in the midst of the storm. Whether that is your faith, your family, your work, your hobbies or interests, your cause or something else that you hold tightly to, we must come back to what matters underneath it all. For us, it’s our calling in serving others. Through this pandemic we have been an essential service and our teams have done the best they can, while also caring for their loved ones and working through the many challenges this pandemic has brought them, much like you have done.
As we look to close 2021 and prepare for 2022, it seems fair to believe there is still a lot left unknown. At the same time, perhaps the unknown continues to share with us the opportunity for growth into the future, the opportunity to have grace with and for each other as we work to get better every day, and the hope that the best is yet to come.
So in this holiday season, I want to express gratitude from our Associa family to yours, for the selfless service and constant care you exhibit for your community and for your role in being your neighbour’s keeper. We hope you are able to have precious time and special memories with those closest to you during these holidays, allowing for a period of rest and renewal in preparation for the new year ahead!
Best,
Patrick Brensinger
President, Management & Integrated Services
Associa