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industry will operate in the future. This applies to things firms are designing and producing as well as how they are operating and growing their businesses. Change is not easy and rarely comes at a convenient time. Luckily, there are problems to solve at the root of this change and our industry has proven to be among the best at solving complex problems. ■ Technology’s impact on the recruitment and retention crisis. One of the biggest problems to solve is how the AEC industry will position itself to stop falling behind with recruiting and retention. We must start making up ground lost to other industries like technology or consumer products groups, which are gobbling up some of the best available talent at all levels. These high level talent pools have a specific interest in the advancement of AI and how they can embrace these new technologies to better themselves and their work. AI won’t completely solve some of our toughest challenges like recruiting and retention, but it could go a long way as it introduces tools that help design and operations professionals spend more of their time solving the problems they are interested in. ■ Marketing is a critical investment. A key takeaway from the conference was that award winning firms report operating at a higher profit level than others in the industry. Year after year Marketing Excellence Award winners prove that marketing is a key strategic investment that has a compelling return on investment. Zweig Group’s data shows that 56 percent of Marketing Excellence Award winners were fast-growth (20 percent growth year-over-year for three or more years) compared to 25 percent for all other firms. What this tells us is that firms that invest in their award winning marketing programs are more than twice as likely to be fast-growth firms. Additionally, 71 percent of Marketing Excellence Award winners were “high profit” firms versus 59 percent for all other firms. This message has been a consistent part of Zweig Group’s efforts to elevate the industry, but many firms still view marketing as an expense instead of as a key investment. ■ Training offers the highest ROI when it comes to employee experience. What can you do with more profits in your firm? You can give your employees what they are asking for. Participating in the Best Firms To Work For survey doesn’t just offer insights into the different sentiments within your firm; it also offers a strategic roadmap into areas that need further investment. The main theme from 2024 and the past several years has been training. The Best Firms To Work For with the top 10 highest employee sentiment scores for professional development had a voluntary turnover rate 27 percent lower than other firms. These same firms grew by almost 15 percent in total number of employees compared to 6 percent for all other firms. There were a number of stats that indicate training is where the highest ROI is in relation to employee experience. ■ The AEC industry deserves to be celebrated. This year’s black tie awards gala was at full capacity, showcasing the achievements of firms excelling in various categories, including Zweig Group’s Hot Firm Awards, Best Firms To Work For Awards , Rising Stars, Marketing Excellence Awards, and the coveted Jerry Allen Courage in Leadership Award. This celebration was not just about recognizing individual successes; it fostered a sense of community among attendees and celebrated our collective achievements. The AEC industry offers some of the best career paths around, largely thanks to what these award-winning firms are accomplishing. ■ Everything’s bigger in Texas. One final exciting announcement during the gala was that the 2025 ElevateAEC Conference & Awards Gala will be held in San Antonio, Texas. We can’t wait to celebrate with everyone again in a brand-new location! Looking ahead, Zweig Group plans to continue expanding this celebration, with ideas for an even larger awards gala in the future. It’s all about elevating the AEC industry, and we’re excited about what’s next. Click here for more information about Zweig Group’s upcoming 2025 ElevateAEC Conference & Awards Gala. Chad Coldiron is a principal and director of development at Zweig Group. Contact him at ccoldiron@zweiggroup.com.
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THE ZWEIG LETTER OCTOBER 14, 2024, ISSUE 1557
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