Foreign exchange also has food and beverage processors worried, especially given the volatility of the Canadian dollar at present.
A low loonie doesn’t necessarily improve export revenues.
These investments may now reap their intended rewards as some food processors seek to acquire assets that can improve their position against the larger conglomerates.
Looking beyond the competition, regulations topped the list of market challenges.
Over the past 6 months, we again spoke to a group of CEOs in this sector to gain their perspectives on how their industry, businesses, and roles had evolved.
These are the common themes and insights that emerged from our discussions.
Others are sourcing more organic and non-GMO ingredients for their products, electing to shift business objectives from frozen to fresh, or altering the formulas of existing products to meet the demand for healthier alternatives.
To counteract this latest trend, CEOs we spoke with indicate that they offer better than average compensation for new hires and incentives to retain existing staff.Resource scarcity creates talent wars When we interviewed CEOs in 2013, the war for talent was well underway.To differentiate themselves from their competition, respondents indicated that they were focused on becoming the “employer of choice” to help attract, retain and engage the talent they needed to prosper.Today, CEOs indicate that shifting product focus remains top-of-mind.Meat processors, for example, are focusing on the humane treatment of animals, raising them free of antibiotics and hormones.