Past Winner Stories
Single Source Systems
www.singlesrc.com
"How to make it through the rough spots: an interesting recipe of fear, denial and my family's faith in me."
Inc. magazine twice named Single Source Systems Inc., a systems-integration and software-development company in Fishers, one of the "500 fastest-growing private U.S. companies." "While sustaining 40 percent in annual growth, Tony Petrucciani discovered a curious thing: His company was struggling financially. After determining that a division dedicated to hardware services was the unit losing the most money, a decision to eliminate the department was made.
In addition to the strain over having to let talented employees go, there were other worries, including low morale among employees as well as the potential loss of credibility with customers and business partners. Petrucciani gave employees a generous eight weeks' notice, with time off for job-searching and interviews. He and president Marty Rhodes personally worked to secure new jobs for each of the employees, and all had new positions within the two months.
To rebuild esprit de corps, the company began to openly communicate its performance at staff meetings and teambuilding sessions. A profit-sharing program was instituted, and as the "bucket" of company funds filled, profit was distributed, with no waiting until the end of the year. Sales went up as a new infrastructure took hold.
Petrucciani observes how far the company has come: "We're now able to predict what our customer base needs and change quickly to meet those needs. We're large enough, yet nimble enough, to create software and solutions more quickly than anyone else in our market segment."
Inc. magazine twice named Single Source Systems Inc., a systems-integration and software-development company in Fishers, one of the "500 fastest-growing private U.S. companies." "While sustaining 40 percent in annual growth, Tony Petrucciani discovered a curious thing: His company was struggling financially. After determining that a division dedicated to hardware services was the unit losing the most money, a decision to eliminate the department was made.
In addition to the strain over having to let talented employees go, there were other worries, including low morale among employees as well as the potential loss of credibility with customers and business partners. Petrucciani gave employees a generous eight weeks' notice, with time off for job-searching and interviews. He and president Marty Rhodes personally worked to secure new jobs for each of the employees, and all had new positions within the two months.
To rebuild esprit de corps, the company began to openly communicate its performance at staff meetings and teambuilding sessions. A profit-sharing program was instituted, and as the "bucket" of company funds filled, profit was distributed, with no waiting until the end of the year. Sales went up as a new infrastructure took hold.
Petrucciani observes how far the company has come: "We're now able to predict what our customer base needs and change quickly to meet those needs. We're large enough, yet nimble enough, to create software and solutions more quickly than anyone else in our market segment."