ECI’s 2018 Growth Survey, the only annual survey in the UK focused solely on high growth companies, polls business sentiment and analyses productivity gains. This year’s report shows that growth companies are achieving significant productivity gains (13.5% over the last year) by investing in people skills, technology and social media:
- 71% of growth companies are investing in new IT, rising to 95% in the North West, to speed up processes and increase efficiencies;
- 70% are training staff in new skills, rising to 77% in TMT companies, as they seek to boost employee output;
- 54% of companies are leveraging social media for marketing, sales and other processes. This isn’t limited to consumer companies (71% of firms) but also business services (48%) and financial services firms (42%);
- Companies are also embracing automation in service delivery and warehousing to drive improvement
ECI’s own portfolio has experienced a 12% CAGR in productivity growth since date of investment and over the same time period increased annual investment by 39% and created 1,356 new jobs.
Philip Shaw, Chief Economist at Investec, said: