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BS: I had no idea what this actually meant until about three years ago when I met my current business coach. Through the course of understanding what “strategic hires” were, we’ve since positioned our company to have all the right people on the bus, and in the right seat, as author Jim Collins puts it. Having this in place, has allowed me to spend more of my time “on the business” rather than “in the business.” I’m more focused on strategic planning now and that’s been vital in reaching our business goals. TZL: Diversity and inclusion are lacking. What steps are you taking to address the issue? BS: We’re very purposeful in making sure that Tamarack Grove Engineering is intentional in our hiring process. We strive to be a well-diversified company, one that includes everyone. Currently, we’re a team of 38, nine women and 29 men. Five of our team members are also on work visas. I strongly believe that without intentionality in your business decisions, this topic can get overlooked. Our industry really needs to be more intentional about this. TZL: What benefits does your firm offer that your people get most excited about? BS: Each year we sit down and discuss how we can be better. Are there more or better benefits we can offer? We currently provide 11 holidays off, annually, as well as their birthday and a choice between a work or personal anniversary. We cover 100 percent of our full-time staff’s health and medical insurance premiums and everyone gets three weeks’ vacation once their probationary period is over. We highly encourage all staff to contribute to their 401(k) and offer a Safe Harbor plan, so – whether or not they contribute – TGE puts in 3 percent to their plan. We also do a discretionary contribution at year end which is based on overall company profits. We also ask staff for input on the subject during our “Town Hall” meetings. TZL: Are you using the R&D tax credit? If so, how is it working for your firm? If not, why not? BS: Yes. We first found out about this in 2018. It’s been a game changer for our business to have these funds – that would normally go into paying taxes – returned back to the business. For our business specifically, it has allowed us to remodel our building, have better software and hardware devices for our staff, and make strategic hiring decisions. See THE RIGHT PATH, page 8
top of that, manufacturers were forced to use four or five different engineering firms to produce their work, solely on the fact that not one firm had professional licensure within all 50 states. This resulted in the manufacturer having its product engineered four to five different ways by the various firms and the wait period for the final product was two to three weeks. So, in 2010 we pursued licensure within as many states, providences, and territories as possible. We then started a hiring process in 2011 that would change the face of Tamarack Grove Engineering forever. By adding key, strategic team members, we kept up with industry demand. Our final solution for them was to take the lead on getting licensed in all of North America so that our company alone would know and understand their product and we would engineer it one way, not four or five. As a result, we’ve become a one-stop-shop and have gotten our turnaround times down to 24-hours. “When we see an issue or trend, we bring it to light and all work on trying to address it. Is it the client? Is it the market sector? Is it us? What can we do to put things back on the right path for success?” TZL: Ownership transition can be tricky, to say the least. What’s the key to ensuring a smooth passing of the baton? What’s the biggest pitfall to avoid? BS: You have to start early and you have to have a plan in place. I started when I was 47. My wife and I will start our exit plan in nine years. I’m a firm believer that if you feel like you have the right people in place, you have to bring them along. Our process took about two years to complete. First, we hired Zweig Group to value our business. Next, we developed a full ownership transition process. Our first ownership member came to the table in 2020. We’re working on adding a few more behind the scenes. Don’t wait until it’s too late. Some people hang their hat on the “someday clause.” Life can take a turn quickly with unexpected events. Plan for the future now. And, don’t just set yourself up for a transition, set up the staff and overall company too. Zweig Group was invaluable in helping us lay this groundwork. TZL: How much time do you spend working “in the business” rather than “on the business?”
HEADQUARTERS: Boise, ID
NUMBER OF EMPLOYEES: 36
YEAR FOUNDED: 2003
NUMBER OF OFFICE LOCATIONS: 1
SERVICES:
❚ ❚ Commercial
❚ ❚ Manufacturing
❚ ❚ Facilities
MISSION: To serve clients
throughout North America
by providing responsive, safe
and trusted solutions with
the highest-quality, most
dependable engineering and
design services while providing
an environment for team
members to grow.
© Copyright 2021. Zweig Group. All rights reserved.
EMBER 1, 2021, ISSUE 1415
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