2
Average BFTWF Score
Top 5 BFTWF Score
Difference between top 5 and average BFTWF
No. Top considerations
Interested in learning more
1. Frequency of bonuses 2. Amount of bonuses
3.89 3.84
4.64 0.75 4.58 0.74
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3. Distribution of company profits (for bonuses, retirement plan contributions, etc.)
4.16
4.81 0.65
4. Mentoring program
4.09
4.65 0.56
5. I have sufficient review time with my supervisor to discuss goals and performance 4.12
4.68 0.56
6. Frequency of mentoring
4.04 3.98
4.59 0.55 4.53 0.55
7. Compensation for extraordinary effort 8. Total compensation (including salary, bonus, retirement benefits, etc.)
4.25
4.75 0.50
9. Quality of mentoring
4.11
4.60 0.49
10. My reviews are meaningful and my supervisor takes this process seriously
4.18
4.67 0.49
STEPHANIE WARINO, from page 1 Firms , our data on principals’ time management shows that principals in the AEC industry spend 12 percent of time mentoring but feel they should be spending 17 percent of their time mentoring. This is an area of our industry that’s shockingly easy to improve if the right steps are taken. The issue we see most frequently is that there’s a disconnect, and what it comes down to is really a lack of systems thinking in the overall performance management approach. This approach includes setting expectations (qualitative and quantitative) for each position, which need to directly correspond to the performance management program, and then tying both of those to the overall compensation structure. The solution is multifaceted and holistic, and is designed to create the behaviors that make your firm a successful business. Development of a robust benefit, compensation, and bonus package, coupled with performance management strategies that develop and grow the employee, will in the end promote and incentivize behaviors that benefit the growth and development of the organization. If you’re interested in learning more about compensation in the AEC industry, check out the following resources from Zweig Group: ❚ ❚ Mid-Year Update 2021 Salary Report of AEC Firms : This contains data gathered after January 2021 and is designed to help firms evaluate how salaries changed during the first half of 2021. This publication includes salary information on nearly every job role at engineering, architecture, and environmental firms. Unlike Zweig Group’s traditional Salary Reports , all regions of the U.S. are included in this publication. ❚ ❚ 2021 Best Performing Firms in the AEC Industry Report : How do the most successful architecture, engineering, and environmental consulting firms do business? How do firms that excel in growth, financial performance, profitability, excellent workplaces, or marketing stand out from the rest? Find out with this report. This new publication covers every area of AEC firm management. Whether you want answers to questions on financial performance, marketing, information technology, project management, compensation, billing practices, or other issues, you’ll find it all in this one report. Statistics are shown for award-winning, fastest-growing, and highest-profit firms, separately from the overall sample so you can benchmark your firm relative to the most successful firms in the industry. STEPHANIE WARINO is a licensed professional and an advisor with Zweig Group. Contact her for systems-level thinking evaluations of compensation and performance programs at swarino@ zweiggroup.com .
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Chad Clinehens | Publisher cclinehens@zweiggroup.com Sara Parkman | Senior Editor & Designer sparkman@zweiggroup.com Christina Zweig | Contributing Editor czweig@zweiggroup.com Liisa Andreassen | Correspondent landreassen@zweiggroup.com
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© Copyright 2021. Zweig Group. All rights reserved.
THE ZWEIG LETTER NOVEMBER 15, 2021, ISSUE 1417
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