June 5, 2023
Without measurement there is no mission. The data we gather and provide is central to our investment strategy, and reporting on our progress helps ensure we are moving our mission forward.
Recent responses to our portfolio company survey reveal job growth remains robust and is climbing with 15,037 jobs supported—an increase of more than 1,000 since the last time we measured and projected job creation is 7,419, up from 4,080.
The average portfolio company full-time wage remains strong at $61,921, and job quality is a consistent priority among our portfolio companies —revealing high employee retention with 30% of employees staying with our portfolio companies four or more years.
What leads to this high level of job retention? Let’s dive in:
• 94% of companies offer jobs accessible to those without a college degree.
• 98% of employees receive health benefits.
• 98% of employees have access to wealth creation programs such as a 401(k).
• 77% of employees have access to training.
• 15% of companies report that wages allowed new employees to replace one or more public assistance programs.
These benefits have the ability to uplift families and offer a renewed sense of livelihood – especially in distressed areas across the country.
Analyzing the data reveals the impact picture and enables us to verify that we are achieving the outcomes we seek. We know that measuring impact at every touchpoint ensures we are doing what we say we are doing. We are pleased to see our portfolio companies and the entrepreneurs behind them continuing to be stewards of success.
