Degrees, Bonuses and the Language used by Growing Businesses

The Office for National Statistics’ (ONS’s) Data Science Campus analysed the choice of words made by organisations along with measuring their success. They found “Businesses that used words like “management”, “team”, and “project” in their job advertisements and news articles were more likely to have high growth than those that used words like “tax”, “law” and “pension”, according to free text analysis of websites”.

“The team also explored what management practices and education tell us about high-growth businesses and found that: high-growth businesses were more likely to have at least one employee with a degree, compared with regular businesses; 83% of high-growth businesses had at least one other staff member with a degree, compared with 75% of regular businesses”

“High-growth businesses were more likely to distribute performance bonuses to managers and other members of staff; 66% of high-growth businesses gave out performance bonuses based on meeting a production target, compared with 57% of regular businesses, and this pattern was repeated for other members of staff.”

“Among high-growth businesses, 90% set at least one production target, compared with 86% of regular businesses” Read more