The five fastest growing, privately-owned businesses in southeastern Wisconsin, the ‘Fastest Five,’ shared insights for success at BizTimes Media’s Future 50 Awards program on Friday.
BizTimes Media and presenting sponsor Metropolitan Milwaukee Association of Commerce (MMAC) hosted the annual Future 50 Awards event, which featured the region’s fastest-growing private businesses and a panel discussion with leaders of the five fastest-growing companies. The leaders of those companies discussed the evolution of their business, successes and challenges, and tips for other local businesses in attendance.
Koru Health, a Wauwatosa-based company that manages senior living communities, including independent living, assisted living and memory care, placed first of 50 for the fastest growing businesses in southeastern Wisconsin.
Andy Lange, chief executive officer of Koru Health, said the company has hired several people to its leadership team that do not fit Koru’s typical leadership profile. The transition has allowed Koru Health to embrace new skills and different perspectives on its team, according to Lange.
“Let’s stop interviewing for technical, quantifiable skills,” said Lange. “Let’s start interviewing for the person.”
West Bend-based American Construction Services ranked fourth of 50. The construction firm specializes in commercial design, build and development.
Kraig Sadownikow, president of American Construction Services, explained that specialization has been vital to the company’s success.
“Our project management team just needed to be our project management team,” said Sadownikow. “Investing in people that can narrow down the job and really perform at a high level helped us get here today.”
Muskego-based Ark Staffing and CRNA Together ranked third overall of 50. The company recruits CRNAs (certified registered nurse anesthetists), physicians, hospital medicine and emergency medicine department staff for health care systems across the country.
Patrick Moore, president and founder of Ark Staffing and CRNA Together, discussed the pros and cons of hiring 1099 contractors who work alongside W-2 employees.
“We are always wanting our 1099s to know that they’re a part of our missions and our identity,” said Moore.
Moore explained that it can be difficult to fit 1099 employees into a company culture and mission as fluidly as it would be for a W-2.
“It’s a work in progress but it’s something we love to do,” said Moore.
Mukwonago-based Campbell Construction, which placed fifth overall of 50, is a full-service general contracting firm that provides construction and development services to industrial, corporate, commercial and retail clients across the country.
Jay Campbell, founder and chief executive officer of Campbell Construction JC, Inc., recently transformed the company into an ESOP (Employee Stock Ownership Plan) company within the last six months.
“Before you convert to an ESOP, instantly all the professionals and consultants tell you ‘don’t tell anyone,’” said Campbell.
Campbell recommended communicating to the team early and often to combat confusion and angst when converting to an ESOP.
Waukesha-based MKE Iron Erectors is a full-service, woman-owned steel erector that provides subcontracting for construction projects. MKE Iron Erectors placed second overall of 50.
Barbara Sheedy, president and owner of MKE Iron Erectors, said among the biggest challenges MKE Iron Erectors will face in the next three to five years, a shortage of skill craft workers and the well-being of its employees are at the forefront.
“Unions are trying to get in with high schools because not everybody is secure to go to college,” said Sheedy.
Sheedy also gives MKE Iron Erectors employees two mental health days to avoid burnout from the physical labor, she said.
