The Benefits of Applying

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Dino Medves (Senior Vice President, CIBC Commercial Banking, Ontario): The application process involves the company preparing a document that outlines some of their key strategies, you know their key management techniques and tools they use to drive the organization. They then submit that document to their coaches from CIBC and Deloitte who then critically evaluate the presentation and try to improve the presentation by bringing out more of the embedded practices within the firm and to ensure that they tell their story in a fulsome and descriptive way.

Reg Robinson (Managing Principal, Solvera Solutions, Winner since 2011): When we look at the Best Managed program there is really two benefits from the program. So one is receiving the designation, and there is lots of good benefits from that, but the process itself is really very beneficial for us as an organization as well. It's an onerous process, takes us some considerable time and effort and energy to do that, but at the same time it's really been a positive process for us because it forces us to think back about our own business, our own operations, our strategies, and to consider what are we doing that makes us different in the market, what are we doing that makes our strategy unique and going to be one that allows us to sustain a business over the course of the next years.

Kris Tierney (Chief People Officer, Questrade Inc., Winner since 2011): It’s a very intensive process, it’s very introspective, it forces us to really look at our business strategies, our business plan, measure our results against that. And so it was a really valuable process for us to go through kind of end to end, all of our business planning, all of our business processes and really doing some good checks and balances on our strategy.

Cory Bell (President, J.W. Lindsay Enterprises Limited, Winner since 2013): When you're doing the application, they are asking a lot of things you should be asking yourself anyway. There should be a good internal gut check as far as what your company is doing. And so I pretty much had our business plan next to me while we were doing this, doing the application process and you are going, “Check, check, check, yeah, we are doing it.” And if you're not doing it then you start asking yourself, “Why not?” Why haven’t we done this? We have been talking about it, we put the time to investigate and put it on to a plan but yet we haven't started. So it really precipitated some of the initiatives that we had to do and so it's just a good process regardless if you're doing it for a recognition program or just internally for yourself.

We have learned I guess some of the hard work we have done over the last few years, validated it. It is tough, some of the initiatives you do don’t have obvious paybacks in our business. We are a construction company. You know if you're doing well, if you go out and you get a job and you make money, yeah that’s very simple, but when you invest in an executive education program or an outsourced health and wellness program or hiring a higher end CFO, it’s hard to see the payback. You know there is no… you feel there's a payback, so what you learn primarily is it, you know it is being recognized and once again you're up against your peers across the country, so you must be doing something right.