The companies’ predicted revenue growth of more than a third amounts to an increase of £2.4m.However, breaking down the SMEs by size, small firms predict an average turnover growth of 69 per cent, which hugely outpaces the 25 per cent increase expected by medium-sized companies. Overall, 52 per cent of business owners are putting their focus on organic growth in the short-term, while 31 per cent are looking to retain their staff. Culture Amp is one firm that has profited from companies that are eager to keep workforces happy, counting Airbnb and Uber among clients. The firm raised $6.3m this year, which will allow it to bolster its services that track employee engagement, sentiment and more. Discussing retention with Real Business, Culture Amp’s CEO Didier Elzinga, said: “We’ve seen companies take the results and use them to make big changes to the way the company is run, how they handle training, and which managers are effective – and which aren’t. “One of the things that we like to remind people is that “happiness” can be a bit of a misnomer. We want people to be happy generally but that in itself does not create a great culture – instead we seek to measure a broader set of things often referred to as engagement i.e. is the organisation doing things to make it a place where staff feel like they want to go above and beyond?” Elsewhere, 30 per cent of senior decision makers believe growth is a short-term priority, which fell from 57 per cent in 2014 to highlight the changing attitudes and ambitions of SME leaders. Some 27 per cent are out to introduce new products, meanwhile, and 18 per cent plan to hire new team members – a six per cent increase on last year. Looking further ahead at what they consider the “ultimate aim”, 28 per cent plan to achieve regional growth and 11 per cent want to sell the company.
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