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When evaluating a company's potential for success, there are three main signs to look at.

These signs should work for you regardless of the reason or from which angle you are doing your evaluation. You could be an investor, a business partner, or a professional who is presented with an offer to join this particular company, these following three signs should work equally for you.

1. Ability to replicate success

A companies ability to repeat its successful practices is manifested by the procedures, polices and processes put in place.

But how good are these processes and procedures if they are not well communicated to staff members? what if these processes in the attempt to keep standard and bureaucracy become a source of anti-agility and slow performance? 

A companies success in keeping growth and retaining flexibility, speed and agility at the same time is the key and true measure of the application of their best practices.

In the modern business environment, digital transformation, business process automation and proper software tooling for the various enterprise activities plays the main role in the enablement of these success replication tools.

2. Employee Engagement

A company who can successfully get its employees engaged has gurenteed enough of motivation to reduce inefficiencies, ensure replication of successful methods, innovation, high performance and commitment. You may or may not have access to latest company engagement surveys, but this can be seen through your interaction with company staff, how much they care for what they are doing, or how much they act like just about doing their job. 

If you are a potential employee and have no direct means to sense the level of engagement the existing staff have with their company, knowing what you should be looking for, you should be able to find a way through social media or by requesting orientation meetings with supervisors and colleagues before you make a final acceptance of the offer. 

 For a company to achieve high engagement rates, it needs to ensure:

    • having the right culture in place, showing employees how much the company cares for its employees, respect diversity, have transparency, and demonstrate shared success ,
    • establish the right performance management tools in place, making sure benefits, compensations and total rewards and even penalties are on fair and clear bases,
    • strongly support learning and development for all talents,
    • have the right communication tools in place.

3. Financial stability trends

Of course no matter what vision a company has, no matter how enthusiastic is the team, and no matter how effective the methods they follow, all this without fuel to keep accelerating the business is to no avail.

It is not really about profitability or operational capital, it is more about the companies ability to keep pace with its liabilities while pushing the business forward, just like a long distance athlete who is wisely investing his energy to achieve overall best results.

Is this all?

Of course this is not all for success, there is still more, but most of the rest of indicators would be situational and contextual. At least these three signs we have discussed, represent the must have recipe for success, missing on any of them is a sure slide down. 

Finally, in the modern competitive business environment, can a company go without going digital? definitely not. Principal Workplace, provides many of the tools and enablers that support many of these success factors. 

 


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