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Canadian businesses less prepared for pandemic than global companies, HSBC survey finds

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We have Canadian businesses saying more than ever that in the next one to two years they expect pressures to come to bear from a sustainability perspective

Dan Leslie, HSBC

“We have Canadian businesses saying more than ever that in the next one to two years they expect pressures to come to bear from a sustainability perspective whether it’s regulatory authorities, whether it’s customers and consumer demand which we’re certainly seeing, employees and of course shareholders owners and investors,” Leslie said.

Going forward, leaders are eyeing the possibility of implementing further changes, the survey found.

Seventy per cent of Canadian businesses identified some kind of flexible working arrangement for employees that would be implemented over the next two years.

When it comes to conducting meetings, 56 per cent of leaders said they expect to continue to meet virtually, even after the pandemic.

They also identified their biggest barriers to success. Employee morale was seen as the most significant challenge by 36 per cent of respondents.

Having sufficient cash flow, 28 per cent, and access to advanced technology, 25 per cent, rounded out the top three.

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