“What does it take to expand year after year, even through the Great Recession? Very few companies have ever done so. You can learn a lot from those that have.” Hire. Grow. Repeat. Scott Leibs, Inc. Magazin
Looking for the case for leadership development and coaching? Inc.’s economist-in-residence researched 1,000 mid-size U.S. companies and identified the “Build 100” top companies that added headcount for five consecutive years. Inc. found the following five points to be commonalities among the Build 100 and notable differences from others:
- More than 50 percent of respondents said “people/talent” and “customer service” were the only drivers of competitive advantage and identified those attributes as core to their company’s identity, ahead of nine other factors.
- A “big change in senior management or leadership” was among the top three factors credited for triggering company growth “breakouts” ahead of six other factors.
- Two of the top three challenges or obstacles to growth were “attracting top managerial talent” and “training future supervisors and managers,” ahead of 11 other challenges.
- More than 82 percent of respondents said “sharing financial success with your employees” helps a company grow — tying that practice for the highest response among six management practices.
- Some 81 percent of respondents named “sudden loss of a key employee” as a concern — the highest such percentage among 11 “unplanned events” that were rated.