Fewer than one in four companies outpace their industry peers on revenue and profit growth. New McKinsey research reveals the six mindsets and strategies that set these growth outperformers apart.

Companies that err on the side of caution, especially during turbulent times, may survive to see another day but often fail to achieve their full growth potential. Given the historic disruptions of the past five years, it’s little wonder that fewer than one in four companies we analyzed outpaced their industry peers on revenue and profit growth. What sets these continuous growth outperformers apart?In a word, courage.

Recent years have certainly tested the mettle of CEOs, as the world moved from a business environment of low inflation and relative calm to one roiled by the COVID-19 pandemic, generationally high inflation, deepening geopolitical tensions, accelerating climate events, and the rise of generative AI. Our new research reveals that corporate chiefs who courageously pursued and stuck with through-cycle growth strategies during these wrenching shifts led their organizations to growth outperformance.

This latest installment in our landmark research series for CEOs who explicitly choose growth by setting an aspirational mindset and culture, activating pathways with the ten rules of growth, and executing with excellence offers six key strategies for leaders who aspire to reach the growth pinnacle of their industries and stay there.

Six strategies for growth outperformance

Multiple pathways powered by bold investments lead to growth outperformance.
Choose a strategy to learn more.

Companies that courageously leaned into these strategies dominated the growth charts in recent years, proving that C-suite leaders can indeed unlock significant, value-creating, and even industry-redefining growth opportunities no matter what the global business landscape throws at them.

While growth priorities will differ from one company to another, these insights are a clarion call to leaders who aspire to reach the growth pinnacle of their industries and stay there. Read on for a deeper dive into our latest research, including profiles of companies we’ve identified as “courageous growers.”

Set an aspirational culture

1. Build an innovation culture and mindset

Innovation excellence enables companies to excel beyond even other outperformers.

To cultivate new sources of growth, and excel beyond other outperformers, companies build an innovation mindset and culture powered by investments in R&D, digital capabilities, analytics, and AI to excel beyond even other outperformers.

Innovative outperformers are fully committed to innovation and mastering its eight essentials. They talk about innovation on earnings calls at twice the rate of their peers, convey achievable aspirations to employees, set clear targets, and foster a culture that is not afraid to take risks.

2. Commit to sustainable, inclusive growth

“Triple outperformers” drive the strongest growth.

Pursuing ESG goals may not feel like a priority when budgets are tight, and our research shows that strong ESG scores won’t compensate for weak fundamentals. However, “triple outperformers” that grow revenues and profits while improving sustainability and ESG scores are better positioned than other outperformers to reach peak growth performance.

Between 2017 and 2021—a period when fewer than one in four companies topped 10 percent annual revenue growth—half of “triple outperformers” reached or exceeded that benchmark, proving not only that companies can do well by doing good, they can do better than their peers.