Recently I was asked to help one of our clients with their application for the prestigious, Canada’s Best Managed Companies, for 2015. Canada’s Best is one of the most recognized private company awards presented by Deloitte, CIBC, National Post, Queen’s School of Business and the MacKay CEO Forum. The application process is very intense and requires a lot of time, effort and money. Therefore, we had to decide if the investment was a good choice for my client who happens to be very busy during this time of the year.
As true entrepreneurs, we assessed all the benefits that winning this award could provide to their business. After analyzing the pros and cons, we decided to go forward with the application and below are some of the reasons for our decision.
Every time a business wins an award they need to capitalize on it. Without the capitalization, all we are doing is stroking our own egos. Therefore, after you decide to submit your application, think of what you could do with it once you win. Since Look has helped four previous winners of Canada’s Best Managed Companies Awards we already have the award capitalization process developed.
We present the application in a hardcover, gift book format. This format helps us repurpose the application into a gift for employees, suppliers, financial institutions and customers. They all helped our clients be Canada’s Best and this invites everyone to feel good about it.
Employee Attraction and Retention
Another important aspect of the award is employee attraction and retention. There is no better way of informing your employees that they are the best within their field, than winning industry awards. If you manage a business in Saskatchewan, you will know how difficult it is to find skilled employees. Canada’s Best companies are allowed to use the award logo in their job ads. This without a doubt, helps attract the right employees to an organization.
Once an award is won, you should organize a reception. Invite your employees, suppliers, business partners, customers and local dignitaries to the event. But don’t stop there, create a press release and send it to the local and national media. This is a great opportunity to generate earned media and the press will jump at the chance to cover it.
Following the announcement of the award consider putting the award logo on your signage, vehicles, and business cards. Your service vehicle will advertise company excellence as it proudly dispays the Canada’s Best Managed Companies seal on it.
Advertise your Success
Lastly consider purchasing paid media, such as newspaper, billboard or promoted Facebook mediums to announce your success. A little bit of humble promotion will go a long way here. In the market where companies are advertising their latest sale you will be proudly standing out as one of Canada’s Best.
Winning awards requires a lot of effort; you have to be very good at what you do and then you have to prepare and submit a winning application. The process can be intimidating. However, remember Wayne Gretzky’s quote; “You miss 100% of the shots you don’t take”.