While the M&A market may be experiencing a renewed bull run, the survey suggests companies are being prudent in decision-making, with 79% of Canadian executives indicating their company failed to complete or has cancelled a planned acquisition in the last 12 months.
"A wait-and-see attitude may have proven prudent in the short term, but could hamper growth in the longer term if companies choose to sit on the sideline,” suggests Jenkinson. “Target assets with the right competencies and synergistic qualities are hard to find. Companies that actively pursue M&A to accelerate growth will increase their chances of outperforming their competitors as we look towards economic recovery.”
Canadian companies surveyed believe they outperformed in many areas during the pandemic, but 32% of executives acknowledge they underperformed when it came to workforce management. Going forward, 78% confirmed the pandemic has increased their strategic focus and investment in their people.
"As Canadian executives examine lessons learned from the pandemic and prepare their path forward, they must put humans at the centre of their focus, apply technology with speed and innovate at scale in order to succeed,” explains Jenkinson. “Canadian companies that do, can do more than prosper — they can make bold moves and create exponential value that lasts.”