Friday, September 11, 2009

Fast Growth Factors

Companies with the fastest revenue growth (we're talking 1,007% over the past two years) list key HR functions as their top two most important factors for success. Oh yeah!

Measuring HR's value is difficult, so it's very nice to have some 'hard' evidence. Well, yes I know, it is a fairly small survey and it's from Canada :-), but nonetheless yesterday's newswire release dished out some sweet candy for HR, especially HR fast growth start-ups.

The survey identified The Profit Hot 50. "These firms are young, tech-savvy and hungry - and hold lessons for entrepreneurial firms of all ages". The leaders identified the top most important factors in their fast growth. We'd expect to see the importance of the business generating capital, the need for industry experience, and having strategic sales.

But give it up for the top two factors on their list <drum roll please>:

1.) Retaining good staff

2.) Recruiting good staff

It makes sense, right? Yeah! It's very nice to see examples of real success backing up what I already view as key. Use this 1,007% growth to help others see the value, to guide investments of time and money, and to prioritize in retaining and recruiting!

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