Even with the stagnant global economy the latest HOT 50 list from Profit magazine highlights companies that are bucking the trend and are profitable and experiencing growth in 2012. The list features a number of startups and also provides insights about Canada’s new wave of high tech companies. Some interesting figures show that a number of companies on the list have grown more than 1,000% from 2009 to 2011 and are getting ready to hire. This can only be good news for Canadians looking for employment in the current tough economy.
The PROFIT HOT 50 reveals that Canada’s fastest growing companies differ from traditional firms in several ways. For example, 39 years is the average age of CEO’s at the start ups on the list, while 45 to 55 is the average age of CEO for other small to medium sized firms in the country. The difference in age is even more significant when compared to S&P 500 companies, where 53 is the average age of new CEO’s.
The new breed of Canadian CEO is also a hard worker, with Profit magazine’s data showing that they log 61 hours of work per week. When compared to the regular full-time workweek of 40 hours, this is a massive amount of over time. Even though studies show that working more than 40 hours per week can reduce productivity, these CEOs are able to buck the trend and have been able to proeduce unbelievable numbers for their firms.
All the hard work nets these company heads a salary of $130,000 per year. For some that could a fortune but when compared to the CEOs of medium and large companies in Canada the salaries are way below average. Another interesting statistic about the CEOs of companies on the HOT 50 is the fact that 66% of them are addicted to entrepreneurship. The current company is usually not the CEOs first start up and most of them have experience with at least one or more other company.
Source: TechVibes
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