TZL 1536 (web)

WWW.ZWEIGGROUP.COM

May

2024,

Issue

1536

TRENDLINES

Billing rate hikes

12% 16%

0% 4% 8%

Explore the latest data on compensation, perks, and key challenges shaping the industry’s ownership landscape. AEC firm leadership insights

FIRM INDEX Balfour Beatty............................................ 10 Cumming Group.......................................... 2 Derck & Edson, LLC.................................. 4 ESP Associates, Inc................................... 6 Mead & Hunt..................................................8 Pennoni........................................................... 10 The Ridgway Group.................................. 2 Ware Malcomb............................................. 4 MORE ARTICLES n JANE LAWLER SMITH: Building a fandom in AEC Page 3 n MARK ZWEIG: Selling firm owners on entrepreneurship Page 5 n LALITHA BENJARAM: Benefits of an ESG report Page 7 n ALAN LLOYD: Scared of selling? Page 9 According to Zweig Group’s 2024 Fee & Billing Report , there has been a surge in billing rates, with 100 percent of respondents reporting fee hikes averaging 10 percent over the past three years. It’s encouraging to see this figure as it’s in line with the base compensation increases Zweig Group reported earlier this year in its 2024 Salary Reports of AEC Firms .

Z weig Group’s 2024 Principals, Partners & Owners Report of AEC Firms is a comprehensive study of owners and top managers of U.S. AEC firms. This eye-opening report covers ownership, stock appreciation rights, buy/sell agreements, non- compete agreements, voting rights, roles, responsibilities, perks, compensation, and more. In addition to this hard data, the 2024 Principals, Partners & Owners Report contains survey responses about the attitudes, responsibilities, and difficulties associated with these roles. Top findings include: ■ Ownership dynamics and firm stability. The survey sheds light on shifts in ownership dynamics and firm stability within the AEC industry. Despite a slight decrease in the median number of years respondents have been owners in their firms, from 20 years in 2022 to 15 years in 2024, AEC firms continue to navigate evolving business models and strategies. Additionally, there’s a noticeable trend of promoting younger individuals earlier in their careers into management and leadership roles, injecting fresh perspectives into decision-making processes. These trends may signify changes in generational ownership, mergers and acquisitions, or succession planning strategies among AEC firms, underscoring the need for adaptability and forward-thinking leadership. ■ Investment and risk. With continued consolidation and the overall transition of ownership in the AEC industry, the dynamics of internal transition seem to be changing too. We have seen an increase in the percentage of owners who have borrowed money to purchase the equity in their firm (up to 43 percent from just 32 percent five years ago). Funding sources with the largest increases over the last five years were from the selling shareholder and the firm respectively. The data this year suggest that personal guarantees on firms’ debt has decreased from five years ago to around 45 percent, down from nearly 60 percent of owners signing personal guarantees on firms’ debt. This is likely due to a shift in the percentage of equity help by this year’s respondents, with more respondents owning less than 10 percent of their firm.

Will Swearingen

■ Political donation trends reflect shifting priorities. Analysis of

THE VOICE OF REASON FOR THE AEC INDUSTRY

TRANSACTIONS CUMMING GROUP IS JOINED BY LOS ANGELES-BASED DEVELOPMENT CONSULTANTS THE RIDGWAY GROUP, ELEVATING THE COMPANY’S EXPERTISE IN THE NUANCED LUXURY RETAIL AND HOSPITALITY SPACE Cumming Group, an international project management and cost consultancy, announced the addition of The Ridgway Group as its newest affiliate, expanding and enhancing the firm’s capabilities in the luxury market by joining forces with an esteemed project and cost management professional services firm. Established in 2014 in Los Angeles, The Ridgway Group, led by majority owner and UK-trained quantity surveyor Tom Donkin, specializes in luxury hospitality, retail, residential, and mixed-use projects internationally. By leveraging Ridgway’s extensive experience in high-profile real estate, Cumming Group will strengthen its ability to cater to the evolving demands of this market across the United States, the United Kingdom, and Europe.

Enhancing Cumming Group’s diverse portfolio, The Ridgway Group brings an impressive array of iconic luxury projects, as well as representing numerous family offices and their private developments in the USA and Europe. Derek Hutchison, president and CEO of Cumming Group, expressed his enthusiasm about the merger, stating, “The integration of The Ridgway Group into Cumming Group, with their international client base, aligns with several strategic objectives and builds on our collective portfolios and expertise. We are pleased to collaborate with such a talented team known for their meticulous execution of high-profile, bespoke developments.” Under the leadership of Tom Donkin, who brings more than two decades of experience in planning and managing luxury capital projects, The Ridgway Group will continue its operations within Cumming Group, ensuring a seamless transition and further enhancing the firm’s capabilities.

Interested in learning more

about the projects and ideas driving the AEC industry forward? Learn more with Civil+Structural Engineer Media.

WILL SWEARINGEN, from page 1

the survey data unveils a notable decline in the percentage of AEC firm leaders making political donations, particularly at the state and national levels. While 20 percent of respondents made contributions to local candidates, only 19 percent and 14 percent donated to state and national candidates, respectively. This shift suggests a reevaluation of priorities on spending and investment in the political process. ■ Economic impact on severance packages. Amidst economic uncertainties, the survey indicates adjustments in compensation structures, particularly concerning severance packages. While a small percentage (10 percent) of respondents have employment agreements specifying severance pay, there has been a decrease in the median and mean number of weeks specified, from 14 to 8 weeks and 21 to 15 weeks, respectively. This trend reflects a strategic response to economic pressures and changing labor market conditions, highlighting the need for firms to manage costs and remain competitive. Unlock unparalleled insights into the world of AEC firm leadership with the Principals, Partners & Owners Report . Explore the latest data on compensation, perks, key challenges, and qualifications shaping the industry’s ownership landscape. Click here to learn more. Will Swearingen is vice president and director of research and advisory services at Zweig Group. He can be reached at wswearingen@zweiggroup.com.

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AEC SMALL FIRM & ENTREPRENEURSHIP FORUM This new event gathers leaders of small AEC firms to discuss the unique issues of managing and growing a small business today. The one-day event includes keynotes, panel discussions, roundtables, and breakout sessions, all focused on the emerging trends and needs of small businesses. Join us May 21 in Atlanta, Georgia. Click here to learn more!

THE ZWEIG LETTER MAY 6, 2024, ISSUE 1536

OPINION

Building a fandom in AEC

Focusing on creating fans of your brand, rather than just clients, can drive deeper engagement, brand loyalty, and word-of-mouth marketing.

A rchitectural Digest focused on “world-building.” Those in Seattle focused on the seismograph. World leaders focused on the measurable economic boost.

Of course, the focus of all of this was the Eras Tour. And when asked how it was all possible, time and again, Taylor Swift’s focus is consistent: It’s because of the fans. Taylor Swift does not have customers. She doesn’t have clients. She has fans. And what does Taylor Swift and her fandom have to do with AEC marketing? Depending on your firm vision, the answer could be nothing or everything. However, the real question is, are you content with having clients – or do you want fans? WHAT’S THE DIFFERENCE? Clients stick with you through the duration of the project. Fans look for a reason to keep working with you. Clients know your firm’s strengths. Fans broadcast your strengths to their peers and tell them exactly what you’ve done for them, when, and why. Comparing clients and fans: It isn’t love, it isn’t hate,

it’s just indifference. In Seth Godin terms, clients may think, “Why are you bothering me?” while fans demand, “Why didn’t you tell me?” BRING ON ALL THE PRETENDERS, WE WILL BE REMEMBERED. Fandom is the key. But don’t take my word for it, or Taylor Swift’s either. Have you heard of Field Notes or Zentangle? Field Notes has fans. A three-pack of original Field Notes notebooks costs $12.95. Most of their notebooks measure 3.5 inches by 5.5 inches. The company was founded in 2007 and maintains manufacturing in the United States. Their beginnings were humble. Their website reports, “Field Notes owe their existence to a tradition of promotional memo books distributed to American farmers over the last hundred years by seed, tractor,

Jane Lawler Smith

See JANE LAWLER SMITH, page 4

THE ZWEIG LETTER MAY 6, 2024, ISSUE 1536

BUSINESS NEWS WARE MALCOMB ANNOUNCES CONSTRUCTION IS COMPLETE ON HISTORIC COLUMBUS CASTINGS REDEVELOPMENT IN COLUMBUS OHIO Ware Malcomb, an award-winning international design firm, announced construction is complete on Castings Commerce Park, a three-building speculative industrial park developed on the site of the historic former Columbus Castings steel foundry. Ware Malcomb provided architecture and interior design

services for the buildings, together offering approximately 862,000 square feet of distribution space and capacity for 171 loading positions. At one time the largest steel foundry in North America, the 71-acre site was redeveloped by its new owner, Stonemont Financial. “Stonemont had a clear vision for redeveloping the historic site, which had been vacant for quite a while,” said

Jason Jordan, regional director for Ware Malcomb. “We partnered to design highly flexible spaces that should help bring plenty of jobs to the local South Side Columbus community.” The new park is designed for a wide array of uses, from logistics to manufacturing. Ware Malcomb’s design direction included programming office uses in each of the buildings to demonstrate the flexibility of the space.

sooner or later, something good will be hinted at, partially revealed, and finally divulged. Fans are waiting for it. ■ They are meaningfully creative. Creativity for creativity’s sake is not the goal. Crafting creative content and approaches that support the thing fans are excited about in the first place is a key to cultivating fans. Whatever these entities are doing, they’re making it meaningful to the fans, something that will be welcomed and embraced. ■ They are consistent. A consistent approach to fan outreach feeds and rewards anticipation, delivering delight on an ongoing basis. ■ They have carved out a space of their own. Let’s be honest, in AEC, sometimes clients struggle to get the names of our firms right. This doesn’t happen with a fan base. Swifties talk about Easter eggs, embrace the number 13, and often talk in lyrics. Field Notes fans know why Wednesdays are special. Zentanglers have their own rich vocabulary of Tangles, TangleRootZ, and Tangleations. It’s world-building. DON’T SAY I DIDN’T WARN YA. This all sounds exciting – but also like a lot of work. Why should you and your firm care? As Seth Godin tells us: “When all things are equal, we choose the cheapest.” So if your strategic position is to be the low-cost leader, you might not need to be concerned about your lack of fandom at all. Are you content competing on this low-cost, level playing field or is it time for a tilted stage? Many firms say they offer something else, something different, something better. But do you? Ask yourself, can you be generous, interesting, meaningful, consistent. Or more of these things? Have you carved out a space all your own, in the eyes of those you work with and for? It’s worth repeating, as Seth Godin challenges: Clients may think, “Why are you bothering me?” while fans, demand “Why didn’t you tell me?” Creating a fandom; that’s next-level marketing. Are you ready for it? Jane Lawler Smith, MBA, is a Swiftie, Tangler, and Field Notes fan. She is also a Seth Godin follower. Her day job is working to build a fandom for Derck & Edson, LLC. Contact her at jsmith@ derckandedson.com.

JANE LAWLER SMITH, from page 3

and other agricultural companies.” Today, these little notebooks have built an amazing fan following. Quarterly releases typically sell out shortly after they are available. Each quarterly release has an accompanying video created by Field Notes HQ. Yearly subscriptions include surprises, bonuses, and perks. The company has collaborated on limited edition notebook designs with entities from the United States Postal Service to Starbucks and even German industrial designer Dieter Rams. This is the marketing they do for themselves. Field Notes fans take it from there. From unboxing videos to handwritten love letters, participation in contests and gifting, the fans are spreading the word. Zentangle has fans. At its core, Zentangle is a method for drawing. What you can buy from the company is mostly paper, pens, and pencils. Since the first germ of an idea in 2003, Zentangle has amassed a worldwide following that includes Certified Zentangle Teachers and countless enthusiasts. Special releases (called Project Packs), free video content, and partnerships are the core of their marketing. You don’t have to buy a single thing to enjoy and engage with the Zentangle Method. Yet Zentangle’s estimated annual revenue is currently $3.5 million per year. Zentanglers, from all around the globe, spread the word. Although they speak different native languages, they all speak Zentangle. COMMON DENOMINATORS. What fan-based activities do these entities have in common? ■ They are generous. Fresh content is what’s talked about most in the fandom-sphere. This often takes the form of free videos which might be announcements, entertaining clips, or instructional sessions. In all cases, it is content that is free and valuable to fans. ■ They are worth following. Communication is ongoing for those with fan-followings. And those who are paying attention are rewarded for following along. They might not know exactly when a surprise is coming, but they do know,

THE ZWEIG LETTER MAY 6, 2024, ISSUE 1536

FROM THE FOUNDER

So many firm owners in our industry could do even better for their people and themselves, and build real value, if they were more entrepreneurial. Selling firm owners on entrepreneurship

W hen you look across our industry at the tens of thousands of AEC firms that make it up, it’s clear that most of these professional services firms are not what one could consider truly entrepreneurial enterprises. Not to say that the majority of these companies don’t provide a very valuable service to their clients, provide solid jobs for their people, and make a decent living for their principals, because they do. But at the same time, so many of these firm owners could do even better for their people and themselves, and build real value that could help their families for generations IF they were more entrepreneurial.

Mark Zweig

As someone who has worked in and around AEC firms for nearly 44 years now, it’s clear to me the reason why more firms in our “industry” don’t act more entrepreneurial than they do is multi-faceted – but ultimately, it really comes down to one thing. Their owners aren’t sold on the benefits of doing so. And if the owners aren’t sold, the employees certainly aren’t going to be able to make it happen. The thought change has to occur at the top. I have stated before on these pages that the primary distinction of an entrepreneurial venture versus a small business lies in value creation. The entrepreneurial firm owner is thinking long-term and

not trying to maximize their annual extractions from the company. Instead they want to build the company such that there is an even bigger pot of gold when they decide to get out. There are several implications of that, including: 1. The firm HAS to be committed to growth because growth rate greatly impacts value. I have written before about the fallacy of historic EBIT multiples when it comes to valuing rapidly growing companies in this industry and others. All you have to do is look at the public markets

See MARK ZWEIG, page 6

THE ZWEIG LETTER MAY 6, 2024, ISSUE 1536

ON THE MOVE ESP ASSOCIATES NAMES DAVE DICKEY AS CHIEF EXECUTIVE OFFICER ESP Associates, Inc., an ENR Top 500 multidisciplinary engineering design, planning, and geospatial firm, announced today that C. David Dickey, Jr., AICP has joined the firm as chief executive officer. Dickey brings a wealth of expertise to ESP, having served in a number of senior and executive leadership roles within the AEC community over more than 35 years of experience. A certified planner with a background in engineering and geology, Dickey has an excellent track record for developing vision and advancing growth strategy, translating objectives into actionable plans, and providing decisive leadership across multiple critical infrastructure markets. Dickey’s tenure begins immediately as he assumes leadership from ESP’s longtime President, Joe Hendrick, as part of a strategic succession plan initiated in 2017 when ESP partnered with Strength Capital Partners, LLC. “After more than 37 years at ESP and nearly 25 years as President, I am deeply

humbled and incredibly proud of the way ESP has adapted and innovated to ensure we remain a trusted partner for our clients and communities,” said Hendrick. “It has been an honor to lead this organization, and I know Dave’s leadership will take ESP to even greater heights as we continue to grow and provide opportunity to our team members for many years to come.” “I am deeply grateful for this opportunity to assume leadership of a multidisciplinary firm with such a rich history of excellence across a variety of service lines and market sectors,” said Dickey. “Moving forward, I will be working closely with Joe Hendrick and the board of directors on organic and inorganic (M&A) strategic initiatives across the enterprise as we remain committed to strong client relationships, core values that reflect a healthy workplace, and strategic, measured growth that builds upon our strengths as one unified team of companies.” Mark McCammon, co-founder and managing partner at Strength, added,

“We are excited to welcome Dave as the new CEO of ESP. Dave is an outstanding leader whose extensive management experience and exceptional strategic capabilities make him an ideal choice for our next CEO. We would also like to extend our gratitude to Joe Hendrick for his unwavering dedication and leadership both prior to and during our partnership with the company. As ESP continues its transformational journey, we look forward to working with Dave to build a broadly diversified, market leading infrastructure growth platform that delivers lasting value for employees, clients, and shareholders.” ESP Associates, Inc., a portfolio company of Strength Capital Partners, is a multidisciplinary engineering design and infrastructure consulting firm providing clients with civil engineering, surveying and mapping, planning and landscape architecture, geo-environmental, environmental, subsurface utility engineering, construction engineering inspection, and water resource management services.

4. In order to grow at a faster rate than the industry, the company has got to make greater investments in people, marketing, and systems. Acquisitions will also probably have to be part of the strategy and practice. Just because these things take money directly out of potential short- term profits doesn’t mean they aren’t worth doing. They must be done in spite of that fact. 5. In order to sustain growth, the company has to be continuously innovating and improving all it does, and bringing out new service offerings that differentiate it from the dozens of competitors it inevitably has. Innovation and “new” has to be baked into the practice and culture of the firm on a daily basis. It must be part of the business planning process for each revenue-generating unit in the firm, and management has to see to it that it actually happens and isn’t just something that gets done if there isn’t any billable work to charge time to. These five things are fundamental to the entrepreneurial firm. It takes unanimity of the owners who must all understand the hows and whys of entrepreneurial management principles. Don’t underestimate the power of having even a single unsupportive leader. The good news is we have some really smart people who own the firms in our industry. They can “get it” IF they understand the logic. So explain it. Sell it. Talk about it until they all get it. The benefits of doing so can be enormous. Mark Zweig is Zweig Group’s chairman and founder. Contact him at mzweig@zweiggroup.com.

MARK ZWEIG, from page 5

to see what happens when revenue for any business is growing rapidly. Value multiples of EBIT go out the window. We have seen rapidly growing AEC firms be worth as much as three times annual revenue in a few external transactions, which is mind-blowing in light of the historic industry multiples of 50 percent to 100 percent of net service revenue. It was only because of their growth rate! 2. Growth in revenue has to be seen as more important than maximizing profitability. Any company can make a 20 percent or 30 percent profit or better in any given year if they want to – but at what price? Cut all overhead functions and it isn’t hard. But what happens later? Growth will plateau. Entrepreneurial firms figure out that by maximizing their growth rate they also end up being more profitable than their peers anyway because their revenue is always growing faster than their overhead. It’s a great paradox, but believe me it’s real! 3. There has to be a valuation methodology for the company in place that ties internal transaction value to the real market value of the firm were it to be sold externally. You can’t transact internal shares or ownership interest based on book value or a multiple of book value or historic EBIT when the real value of the company is going to be assessed using projected EBIT based on a certain growth rate. This is fundamental. Otherwise, there is not a connection between doing the things that maximize value because the incentives encourage a much less aggressive strategy.

THE ZWEIG LETTER MAY 6, 2024, ISSUE 1536

OPINION

Benefits of an ESG report

This report allows firms to highlight their responsible business practices, community and sustainability commitments, and social innovations.

W e know that the work we do impacts our clients, communities, and teaming partners. We have a responsibility to make life better for those around us, and an environmental, social, and governance (ESG) report can help us do so.

An ESG report is a way to take inventory of our current practices, set goals for the future, and track our progress as we work toward these goals as a company. Our company chose to go through the process of creating an ESG report to help us track our progress around our environmental impact, company culture, and leadership. We published our first report in 2023. This report is publicly available on our company website. Our ESG report will be updated annually, and the second version of the report was published in April. See the latest report here. Benefits of an ESG report include: ■ Risk mitigation. Considering environmental and social concerns increases resiliency and reduces

risk (operational, legal, reputational, etc.).

Lalitha Benjaram, EIT

■ Marketing. An ESG report allows prospective clients, partners, and employees to see how a company’s values are reflected in their work and organization. ■ Employee engagement. Compiling an ESG report requires expertise and input from many different people in an organization. Including employees in the creation of the report and execution of its goals is necessary and can increase employee engagement.

Innovation and adaptability. Considering sustainability and social responsibility in all aspects of the business challenges us to innovate and adapt as the industry changes.

■

See LALITHA BENJARAM, page 7

THE ZWEIG LETTER MAY 6, 2024, ISSUE 1536

or getting involved in their community, these features highlight the unique ways that our people are contributing to the industry. Representation matters and featuring a diverse group of employees emphasizes that our company, and the AEC industry, is for everyone. “An ESG report is a way to take inventory of our current practices, set goals for the future, and track our progress as we work toward these goals as a company.” ■ Governance. This pillar address how our company is led, from our board of directors to corporate management, and how we consider the impact to people and environment as part of our decision making. Our ESG report allows us to share our responsible business practices, community and sustainability commitments, and social innovations with potential employees and clients. Above all, our goal is to take responsibility and continuously improve our impact on the world around us. Lalitha Benjaram, EIT is diversity and inclusion program manager at Mead & Hunt. Contact her at lalitha.benjaram@ meadhunt.com.

LALITHA BENJARAM, from page 7

Here is our approach to each ESG pillar:

■ Environmental. This pillar challenged us to understand our impacts on the environment in our external operations as well as through our internal projects, and set goals to reduce these impacts. We primarily focused on energy, emissions, water, waste procurement, and green buildings. We paid attention to internal elements, such as product sourcing, to our project impacts. In other words, how are we contributing to the care of our physical world and creating spaces for people to thrive? Because we lease many of our office spaces, we track data related to water use, energy consumption, and carbon emissions as best as we can and make use of available resources to make assumptions where necessary to establish a baseline (e.g. Environmental Protection Agency emissions factors). ■ Social. This pillar addresses our company culture and the exciting ways that our employees are contributing to our community and broader society. This portion of the report excites me the most because it’s centered around the best part of our company: our people. We chose to focus on community involvement, training and development, and diversity and inclusion. While we delve into programs and policies in place to support employees, a large portion of this section is composed of employee features. Whether it’s an innovative approach to our work, a passion for supporting the next generation of AEC professionals,

THE ZWEIG LETTER MAY 6, 2024, ISSUE 1536

OPINION

Scared of selling?

A nnually, I organize an off-site leadership summit for my senior leadership team. This event serves as an excellent opportunity for deeper connections, collective problem- solving, and envisioning the future of our industry. With the right approach, our people can develop the skills and confidence needed to excel in business development, contributing to our collective success.

At our most recent summit, we concluded with a brainstorming session aimed at enhancing our operations to bolster our reputation, profitability, and overall growth. We identified several areas for improvement, including internal communication, template development, guidance documents, and optimizing our accounting software. However, one topic stood out. Many senior leaders expressed a lack of confidence and even fear regarding business development. This revelation was surprising and led me to ponder the underlying causes: Are we adequately preparing our technical leaders for sales roles? Are our expectations realistic? Are we equipping them with the necessary tools for success? In adopting the seller-doer model prevalent in engineering firms, such as Pennoni, it’s crucial to recognize three key factors:

1. Technical background. Our senior leaders typically possess technical backgrounds, having pursued degrees in engineering, science, or related fields. 2. Introverted nature. The majority of technical experts tend to be introverted, often feeling less inclined toward extensive social interactions, especially small talk. 3. Lack of sales training. It’s rare for consultants to receive formal training in sales techniques, leaving many ill-prepared for business development responsibilities. I stand apart from the norm, holding a Bachelor of Arts degree, which afforded me ample opportunities to develop communication and interpersonal skills.

Alan Lloyd, CIH, CSP, ENV SP, WELL AP

See ALAN LLOYD, page 10

THE ZWEIG LETTER MAY 6, 2024, ISSUE 1536

ON THE MOVE BALFOUR BEATTY

ANNOUNCES

2001, Richard Ryan has attained an unsurpassed understanding of how to successfully manage and deliver large-scale, complex and progressive delivery-model projects while being an outstanding champion for safety. He is known for his executive leadership and oversight of some of the company’s largest federal and healthcare sector projects to date, including Penn Medicine’s new Pavilion in Philadelphia, Pennsylvania, the Walter Reed National Military Medical Center expansion and renovation as well as the National Institutes of Health – Mark O. Hatfield Clinical Research Center in Bethesda, Maryland. With over 20 years of corporate finance experience, Jenni oversees finance operations for Balfour Beatty’s US Civils business. Jenni began her career in construction traveling worldwide to offices and projects for Ernst & Young’s Assurance practice. During her tenure at Balfour Beatty, she successfully led teams through reorganizations, system conversions and finance transformations by leveraging her expertise in finance reporting, accounting, treasury and financial systems. Jenni is a graduate of Texas A&M University where she received her bachelor’s degree in accounting and masters degree in finance and she

maintains her status as a Certified Public Accountant. “We are proud to appoint Richard and Jenni to our national executive leadership team,” said Eric Stenman, Balfour Beatty chief executive officer. “As teammates of the company for two decades, their ongoing, people-first commitment to their teams and our clients has garnered inspiration and success throughout our company’s operations. I am honored to have Richard and Jenni as leadership partners as we continue to strive for operational excellence, build a company culture that promotes diversity and inclusion and remain Relentless Allies in our communities.” Balfour Beatty is an industry-leading provider of general contracting, at-risk construction management and design- build services for public and private sector clients across the United States. Performing heavy civil and vertical construction, the company is part of Balfour Beatty plc (LSE: BBY), a leading international infrastructure group that provides innovative and efficient infrastructure that underpins our daily lives, supports communities and enables economic growth. Balfour Beatty is ranked among the top domestic building contractors in the United States by Engineering News-Record.

EXECUTIVE FOR US OPERATIONS Balfour Beatty has announced the appointments of Richard Ryan to senior vice president, National Safety and Sustainability and Jenni Kelley to senior vice president, chief financial officer of the company’s U.S. Civils business. Additionally, Richard and Jenni serve as members of Balfour Beatty’s national executive leadership team where they join leaders who manage companywide functions that provide strategic oversight and support to teammates, clients and partners. APPOINTMENTS Richard Ryan is a 40-year construction veteran with experience of the industry’s operations in England, Ireland and the U.S. As senior vice president, National Safety and Sustainability of the company’s Buildings and Civils businesses he ensures the company continuously improves safety and sustainability practices by creating safe and environmentally responsible workplaces for teammates, industry partners and the public. Additionally, he leads efforts that reduce workplace injuries with the goal of achieving Zero Harm and enhances Balfour Beatty’s impact on the environment by working with supply chain partners, clients and communities. A Balfour Beatty teammate since

introvert myself, I understand the challenges firsthand and the importance of adapting to engage effectively in various situations. Lastly, we must consider the insufficient provision of comprehensive sales training across firms. Learning to sell is a skill that requires dedicated mentorship, access to high-quality resources, and professional development opportunities – not merely a brief webinar or book recommendation. While selling may seem daunting for many of our staff, including senior leaders, it’s imperative to acknowledge these apprehensions and address them proactively. By recognizing individual differences and providing the necessary support and training, we can empower our engineers to embrace the seller-doer model confidently. In conclusion, selling doesn’t have to be intimidating. With the right approach, our team can develop the skills and confidence needed to excel in business development, contributing to our collective success. Alan Lloyd, CIH, CSP, ENV SP, WELL AP is vice president and EHS practice leader at Pennoni. Connect with him on LinkedIn.

ALAN LLOYD, from page 9

However, this isn’t the case for most engineers and scientists within the AEC industry. It’s essential to acknowledge that while these professionals excel in their technical domains, they may lack foundational communication skills necessary for effective interaction. “Learning to sell is a skill that requires dedicated mentorship, access to high- quality resources, and professional development opportunities – not merely a brief webinar or book recommendation.” Conducting personality assessments among our team members has consistently revealed a prevalence of introverted personalities, which isn’t surprising given our industry’s nature. Introversion often translates to a discomfort with small talk and a preference for direct, purposeful communication. As an

THE ZWEIG LETTER MAY 6, 2024, ISSUE 1536

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