Central Employment are delighted to be nominated for the 2nd year in succession for Ward Hadaway’s Fastest 50 award for 2018.
The Fastest 50 is an initiative run by Ward Hadaway, which recognises outstanding business achievement by companies across the North of England.
Central Employment has been listed in the Ward Hadaway North East Fastest 50 for 2018, a list of the fastest growing businesses in the region put together by UK Top 100 law firm Ward Hadaway and supported by The Journal newspaper.
The Ward Hadaway North East Fastest 50 highlights and celebrates the achievements of fast-growing, profitable companies in the region by compiling and publishing an annual list of the 50 fastest growing privately-owned businesses across the North East.
Central Employment has made it into the 2018 list – the 21st in the event’s history in the firm’s 30th anniversary year – after achieving three years of strong turnover growth whilst still remaining profitable.
Central Employment will now go forward to the Ward Hadaway North East Fastest 50 Awards 2018 on October 12th, where awards will be given to the fastest growing large, medium and small businesses in the region as well as an award for the overall fastest growing business.
The Ward Hadaway North East Fastest 50 has been published every year since 1998 and is compiled and organised by law firm Ward Hadaway, which has offices in Newcastle, Leeds and Manchester.
Martin Hulls, Managing Partner at Ward Hadaway, said: “Congratulations to Central Employment and every company in the Ward Hadaway North East Fastest 50 for 2018, for their fantastic achievement in making this year’s list in our 30th anniversary year. The Fastest 50 shows what terrific companies we have in the region and underlines what a great place the North East is to do business.”
Central Employment’s Operations Director, Mark Trett responds to questions posed on how the business stands out, growth, obstacles and the characteristics required to be successful in business.
In describing your path to the Fastest 50, what one moment stands out for you?
Rather than focus on new business, we focused our time and attention on developing our existing clients, training and development of our internal staff has been instrumental to serve our clients better, as a result we have seen our biggest gains. Everyone wants immediate results but there are no shortcuts. If you want to be able to achieve success, you must have consistent application of the basic principles; with which your business was founded on. Always be willing to admit your failings and continuously learn from the day-to-day mistakes.
What is the single biggest obstacle to business growth?
The main challenge is developing and retaining the right staff. It is important that Central Employment retains it’s ‘can do’ culture and therefore hiring the right team is vitally important. Different skills are required to set up a business as opposed to growing a business. Entrepreneurs have skills to set up, but this doesn’t mean they have those for growth such as leadership, strategy, systems & controls, finance skills. The difficult bit is identifying the talent to bring these skills in.
What one thing do you wish someone had told you before setting up your business?
You need to get in the right frame of mind. If you aim for growth you will probably survive, if you aim only for survival, success may be difficult. It’s not about being hopelessly optimistic, it’s about having lots of ideas and initiatives so that you can afford to fail with a small proportion of them. Save today’s income for tomorrow’s expansion & have a clear understanding of why your business exists. You don’t have to win by much to win by a lot.
What is the most important characteristic to be successful in business?
Finding the right balance between going after new business and focusing on retention and growth of our existing clients, meeting their individual bespoke needs. Gaining, developing and maintaining those important and useful contacts and finding the balance between being patient and keeping an eye on time pressures and deadlines.
What one motivational tip would you give to other business owners looking to grow?
Document your own good practices and turn them into company policies and procedures. As you grow your voice will become diluted. Your policies and procedures will give you the framework for growth, as your staff rinse and repeat your own good practices. The most rewarding achievements have always been attainable when we strive to move beyond our own comfort zones.