November 12, 2013
Saluting the Deloitte 100
2013 marked the 30th anniversary of the celebration of the region's top private companies: the Deloitte 100. Showcasing the tremendous accomplishments of the elite, this prestigious annual recognition event offers an opportunity to both celebrate the role that family-owned, employee-owned and privately-held businesses play in our community, and check the pulse of these job creating, economic engines.
Together, these companies employ more than 96,000 tristate residents and generate more than $32 billion in sales. The leaders of these companies, according to Frank Leggio, Jr., Deloitte & Touche LLP, "provide a strong base that enables our economy to weather the uncertainty that seems to linger in the national and global marketplaces."
A testament to our region's staying power perhaps, but here in Cincinnati USA, Leggio offers, "...despite continued economic uncertainty, private businesses have thrived, often by investing in innovation. Cincinnati's largest private companies are adopting new products, exploring technological advances, and making strategic decisions to further differentiate themselves."
This week's Chamber Currents Spotlight is on the top private companies in Cincinnati USA, the four "Rising Stars" firms with demonstrated potential for continued success and the winner of the 2013 Carl H. Lindner Award for Entrepreneurial and Civic Spirit: Gary Heiman, President & CEO of Standard Textile Co., Inc. the world's largest, vertically integrated manufacturer and distributor of institutional textiles and apparel. Please visit the complete list of 2013 Deloitte Cincinnati USA 100.
Interesting statistics from this year's Deloitte 100 slate of honorees include:
- In 30 years, the Deloitte 100 companies have grown sales 500% and increased employment by 175%
- 29 of this year's honorees have made the list at least 25 times
- 14 companies have been included for all 30 years
- Year over year growth for this year's class: 8%, from $30.1 billion to $32.3 billion
- 86% expect continued sales increases next year
- 79% of companies experienced growth in 2012
- 6 of the 100 companies have more than $500 million in sales
- More than 50% of the companies operate in manufacturing, retail or distribution
- 8 companies were founded before 1900
- Nearly half of the companies have global operations
What's on the horizon? Better before cheaper...
Nearly half of the Deloitte 100 said lower prices weren't important to their company's strategy for growth, so they're focused on differentiating themselves in the marketplace on factors other than price:
- 72% are looking to the execution of a social media strategy as a differential
- 67% see innovation as very important or critical to the success of their business
- 65% increased their technology spend - an increase from 41% in 2009
- 38% increased research and development investment last year -- 35% expect further increase in 2013
Leadership Development is key
Leadership Development was named most often as the talent issue most critical to success. Nearly four of the five Deloitte 100 said that finding qualified candidates while hiring is somewhat difficult or very difficult; more than half spend less than $50,000 a year on leadership development, and most of those spend less than $20,000.
Looking for leadership and management training? Access your Chamber member benefits. We recognize the important role business leaders play in Cincinnati USA's regional strength, both now and in the future. In order to grow and aid local and relocated talent to become better leaders and citizens, the Chamber offers leadership development programs designed to serve specific target groups at all stages of their career paths. Visit cincinnatichamber.com/leadership today.