Frequently asked questions
Canada’s Best Managed Companies
- What are the award levels?
- What is the difference between a Best Managed new winner, Best Managed winner, Gold Standard winner and a Platinum Club member?
- Can a company win a Canada's Best Managed Companies award more than once?
- How does a company apply to become one of Canada's Best Managed Companies?
- Is there a cost to apply to the Canada's Best Managed Companies program?
- When is the deadline to apply?
- What happens after I submit my application?
- Can I review my company's application after it has been submitted?
- What if I need to make changes to my Phase II application form after I have submitted it online?
- Can I save my information and come back to finish the application at a later date?
- How do I calculate my Return on Equity?
- How long is 5000 characters?
- My responses are longer than 5000 characters – what should I do?
- How do I upload a supporting document?
- Can you provide any further hints or tips on the best way to complete the Phase II application?
- Where can I find a sample of the application?
- How do I reset my password?
- What else do I need my username and password for?
- What does it mean when the system tells me my account has been locked out?
- Who will have access to my financial information?
- How do I update my company's profile?
- One of our Canada's Best Managed Companies contacts has left our company; how do I remove them from our application?
- How do companies qualify and what is the eligibility criteria?
- Can I nominate another company besides my own?
- What decision criteria do you use to determine the Canada's Best Managed Companies?
- How much does my revenue and revenue growth factor into the judges' decision?
- How do you decide which companies move to Phase II of the application process?
Q: What are the award levels?
A:Best Managed new winner (new applicant; year one)
Best Managed winner (years 2 & 3)
Gold Standard winner (year 4, 5 & 6)
Platinum Club member (years 7+)
The online application system will recognize your company profile and progress to the next level per the above.
Q: What is the difference between a Best Managed new winner, Best Managed winner, Gold Standard winner and a Platinum Club member?
A: A successful first-time applicant becomes one of the Best Managed new winners. First time applicants must complete a two-phased application form – The first part determining eligibility; the second part working with their coaches to answer specific questions regarding their management practices.
The following year, the winner has the opportunity to 'requalify' and retain their status as a Best Managed winner for two years, along with all benefits of the award. This is a simplified version of the original application form used to verify the candidates' Best Managed status.
Upon entering its fourth year of the program, a company must successfully complete the original application questions (Phase I and II) once again to be awarded the Gold Standard designation. Companies must demonstrate their commitment to the program throughout their responses.
Similar to the process in years 2 & 3, companies are invited to complete a simplified application to retain its Gold Standard status for an additional two years (5 & 6).
To achieve Platinum Club membership, companies must have successfully retained their Best Managed status for six years, continually representing the Best Managed standard of excellence. The application process is once again two-phased; successful completion grants winners the elite Platinum Club designation. Following admission to the Platinum Club, companies must reapply using the simplified application form year after year to retain its designation and all associated program benefits.
Q: Can a company win a Canada's Best Managed Companies award more than once?
A: Absolutely. Per the above, successful applicants progress through the various award levels of the program each year. Companies must apply annually to retain their status, subject to review of management practices.
Q: How does a company apply to become one of Canada's Best Managed Companies?
A: Submit an online Phase I application to start the Canada's Best Managed Companies process.
Q: Is there a cost to apply to the Canada's Best Managed Companies program?
A: There is no fee to apply to the program!
Q: When is the deadline to apply?
A: Phase I (new applicants – year 1, Gold Standard – year 4, Platinum – year 7): Friday, October 23, 2020, Phase II & all other award levels: Friday, December 4, 2020
Q: What happens after I submit my application?
A: Once you submit your application an automatically generated email will be sent to your inbox to confirm that we have received your application. Once you have received confirmation of your successful application, you will be able to sign into the website with your username and password to view your application.
If you are applying for years 1, 4, or 7, your Phase I submission will be reviewed and verified for eligibility by the teams at Deloitte and CIBC before you are able to access the Phase II form. You'll receive an email notification should your Phase I be successful; advancing your application to Phase II.
Your company's Deloitte and CIBC coaches will be listed along the left sidebar of the website when you log into your Phase II application.
Q: Can I review my company's application after it has been submitted?
A: All contacts listed on the Phase I application will have the ability to log in with their email address and password to review their Phase I and Phase II application. We also encourage you to print a copy of the application form for your records before you submit. There are printer icons on every page of the application that will allow you to print your application form in its entirety.
Q: What if I need to make changes to my application form after I have submitted it online?
A: We ask that you do not submit your Phase II application until it is complete and ready for scoring. If you need to edit your application after submitting it online, please contact your coach who will work with the National Admin team to add to your application and submit on your behalf.
Q: Can I save my information and come back to finish the application at a later date?
A: Yes, by clicking on any of the tabs at the top of the page, the "<<" and ">>" buttons or the save button on any page, your information will be saved. You can then proceed to close your browser. When you are ready to complete the application form, return to www.bestmanagedcompanies.ca and login with your username and password.
Q: How do I calculate my Return on Equity?
A: The system will automatically calculate your Return on Equity (ROE) when you click on the "Press to Calculate" button. If you change the number provided in the financial table, you will need to click on the "Press to Calculate" button again to re-calculate your ROE.
Q: How long is 5000 characters?
A: The space allotted for 5000 characters will allow 5000 letters, spaces or symbols to be typed. There is a words and character counter at the bottom of the text box that will help keep count. After the limit of 5000 characters is reached, the text box will not accept any other content. Please note this includes spaces!
Q: My responses are longer than 5000 characters – what should I do?
A: Applicants are evaluated based on their ability to communicate their responses clearly and succinctly. While there may be an opportunity to share additional information with your coaches during the interview, please note supplementary materials/hard copy applications will not be accepted.
Q: How do I upload a supporting document?
A: Towards the end of the application, on the Submit page, there is an option to upload supporting documents, including logo, financials. Please note that the system will allow a maximum upload of 4 documents with a maximum size of 10MB each.
Q: Can you provide any further hints or tips on the best way to complete the Phase II application?
A: We recommend completing your responses in a Word document prior to entering the content into the online registration form; then copy (ctrl + C) and paste (ctrl + V) it into the form once it has been finalized. You'll want to include your company's management team throughout the process to ensure the responses best capture your organization's strategy, vision and accomplishments.
Q: Where can I find a sample of the application?
A: Please contact the national administrator at email@example.com or 1-866-551-3455
Q: How do I reset my password?
A: To reset or retrieve your password, visit www.bestmanagedcompanies.ca click "Forgot your password?" at the top right hand corner of the page, enter your email address in the text box and click "Submit". A new temporary password will be sent to your email address. Use your email address and this new password to log in to www.bestmanagedcompanies.ca. You will be prompted to change your password the first time you log in.
Q: What else do I need my username and password for?
A: Once the Phase I application has been submitted, you will need your username (email address) and password to see all Phase I information. If you are advanced to Phase II, you will be able to use your username and password to access your coach's contact information and the Phase II application. If you are a winner, you may use your username and password to retrieve information regarding exclusive events such as the gala and symposium, to download the Best Managed logos and logo usage guidelines and other promotional documents, etc.
Q: What does it mean when the system tells me my account has been locked out?
A: If you try to log in to your account more than 5 times unsuccessfully, for security purposes the system will lock you out for 30 minutes. After the 30 minutes has expired you can try again to log in. If you have forgotten your password, you can reset it by clicking on the "Forgot your password" link. A new password will be emailed to you immediately. Note: even once your password has been reset, you will need to wait for 30 minutes before attempting to log in. If you require immediate access, please contact the national administrator at firstname.lastname@example.org or 1-866-551-3455
Information collected by Deloitte LLP and the other Program sponsors (collectively, "Canada's Best Managed Companies" and also referred to below as "we", "us", or "our") is used to evaluate eligibility and candidacy for, and to support the activities, administration, and analysis of the Canada's Best Managed Companies Program (the "Program"). Information collected as part of the Program, including but not limited to contact information of participants, information supporting an organization’s candidacy and evaluation, and information collected through Program events (“Participant Information”) may be retained and used by Canada's Best Managed Companies, its sponsors, or other service providers in order to support the activities, administration and analysis of the Program. Participant Information may also be used to identify and inform you by using electronic messaging and other forms of communications, about services, information, and events when Canada's Best Managed Companies believe these communications and opportunities will interest you, and for research and development purposes. Participant Information may be aggregated and Deloitte LLP may use, disclose, or make public that information as part of research and advice, including benchmarking, provided that such Participant Information will be de-identified and not subject to association with the participant. Participant Information collected by or provided to Canada’s Best Managed Companies may be used, processed, disclosed and stored outside of Canada. Participant Information may also be shared with third parties that provide administrative, technical, or support services to Canada's Best Managed Companies. Participant Information may also be shared with other Deloitte entities, including but not limited to Deloitte Touche Tohmatsu, a UK private company limited by guarantee (“DTTL”), its member firms and their respective subsidiaries and affiliates (including Deloitte LLP). Participants agree that Canada's Best Managed Companies may incorporate a link to their corporate website into www.bestmanagedcompanies.ca if they are successful. By submitting an application, documents, or information to Canada's Best Managed Companies, you consent to the collection, use and disclosure of such information in accordance with this notice, including sharing of your information with Program sponsors.
Steps to safeguard information provided to Canada’s Best Managed Companies including, but not limited to participant information include password-protecting access to participant profiles on our website, as well as technological and organizational measures to protect information against loss of and unauthorized access to your information. Where Canada’s Best Managed Companies works with third parties, we take measures to ensure your information receives an appropriate level of protection, including contractual safeguards in agreements with Program sponsors and members of the Canada’s Best Managed Companies Selection Board. Information may be disclosed to law enforcement, regulatory or other government agencies or third parties, where necessary or desirable to comply with legal or regulatory obligations or requests or in support of the administration of the Program or to otherwise provide infrastructure support to Deloitte.
Canada's Best Managed Companies respects the choices of participants and their identified contacts. Individuals may review, update and correct their personal information, and request removal from our mailing list or sponsor mailing lists at any time. However, certain elements of the Program regarding application status and Program updates will require system-generated messages to be sent. Program participants cannot opt out from receiving these messages without withdrawing from the Program.
Updates to the Privacy and Confidentiality Notice
Canada’s Best Managed Companies may update this Privacy & Confidentiality Notice from time to time, in our sole discretion, by placement of an updated Privacy & Confidentiality Notice on this website, with the date of the most recent update at the bottom of this page. Participants are encouraged to periodically review this Privacy & Confidentiality Notice from time to time, so as to be aware of any changes.
Contact Canada's Best Managed Companies Program if you have questions or concerns about our handling of your information at 1-866-551-3455, or by email at email@example.com.
Last updated July 2020
Q: Who will have access to my financial information?
A: Deloitte, CIBC and the judging panel, comprised of program sponsors, will review the financial information put forward. The judging panel is required to sign a Confidentiality Agreement.
Q: How do I update my company's profile?
A: You will be able to update your contact information and your company's profile at any time by signing in with your username and password and accessing the "My profile" and "My company's profile" sections.
Q: One of our Canada's Best Managed Companies contacts has left our company, how do I remove them from our application?
A: Please contact the national administrator at firstname.lastname@example.org.
Eligibility and selection criteria
Q: How do companies qualify and what is the eligibility criteria?
A: View the eligibility criteria.
Q: Can I nominate another company besides my own?
A: Absolutely. Email us at email@example.com.
Q: What decision criteria do you use to determine Canada's Best Managed Companies?
A: We examine four categories of a company's structure: strategy, capability, commitment and return on investment.
Q: How much does my revenue and revenue growth factor into the judges' decision?
A: Financial strength is certainly important when determining a company's stability however, Best Managed is an all-encompassing program which focuses on a number of areas to measure management strength. Regional economic conditions and industry trends are considered while evaluating the financial component of your application.
Q: How do you decide which companies move to Phase II of the application process?
A: A panel of Deloitte and CIBC leaders review the Phase I applications for eligibility and determine those that move forward.
- Coaching from Deloitte and CIBC professionals
- Detailed self-analysis of your business focused on strategic and operational issues
- Shine a light on current best practices and areas for improvement
The benefit of winning. All the benefits of applying, plus more in store for winners!
- Exclusive use of the Canada’s Best Managed Companies designation
- Extensive national, regional and local media exposure
- Access to year-round networking opportunities with other exceptional business leaders
- Strengthened ability to attract and retain talent
- Recognition by over 2,000 business influencers at an exclusive gala celebration
- Celebrate the efforts and commitment of your entire company
- Professional development at the Canada’s Best Managed Companies symposium featuring the latest in business leadership and cutting-edge thinking
Q: How much media coverage can I expect to receive?
A: All Best Managed companies are included in national media coverage announcing the winners annually. Many of our winners are approached for additional media opportunities specific to their industry and/or region. Best Managed companies may also be featured in editorial coverage by our media sponsor throughout the year.
Q: What makes this awards program different than the others out there?
A: The Canada's Best Managed Companies award recognizes your entire company. It's uniquely Canadian, and it measures more than strong financial performance. The Best Managed program continues to grow internationally with presence in 21 countries and continued global expansion.