TZL 1339

T R E N D L I N E S A p r i l 6 , 2 0 2 0 , I s s u e 1 3 3 9 W W W . T H E Z W E I G L E T T E R . C O M

Equity value per profit

Engage the people at your firm and they will tell you all you need to know to recruit, retain, and utilize every employee. Employee engagement

I t can be tough to know exactly what people are looking for in a company. Work-life balance, flexible schedules, job security, stability, and 401(k) are among additional benefits people are interested in. When it comes to your firm, I would argue that there is no better way to find out what people want than by engaging your employees. Nobody knows your company better than they do. Find out what they like, don’t like, and are indifferent about, including those additional benefits your firm offers. Employee engagement surveys are a great place to start. Whether it’s administered through a third party or done internally, these surveys are a great way to engage everyone in your firm no matter what role they play. Getting 100 percent participation in the survey would be great, but the reality is this can be very hard to achieve, especially in a larger firm. You need to set realistic participation goals and encourage your employees to participate until you get there. Let your employees know how important it is that you hear from them and that this is their chance to have their voice heard. Asking the right questions is key to getting the best information from your employees. You can keep these general to get a broad sense of how people feel about certain parts of your company (mission, vision, goals, culture, benefits, etc.), or you can ask specific questions that may have to do with a policy your firm implemented recently. That is a good way to understand if that policy has provided the benefits your firm was hoping for. Having measurable questions is an effective way to track your progress. While hearing comments about your firm is great, it can be hard to quantify those results. Having the right mix of quantitative and qualitative questions is very important. Engaging your employees is the first step, but successful companies will go beyond that. They will utilize “people analytics,” using data gathered to put better policies in place, predict internal mobility, and identify strengths, weaknesses, opportunities, and threats, in addition to other HR data. A LinkedIn study recently found that half of those surveyed said “their company was good at collecting internal data but only 39 percent felt confident analyzing it. Using data to solve existing problems? Thirty-seven percent. And using it to solve future problems? A mere 29 percent.” There is a tremendous opportunity to use data beyond hitting sales numbers or for performance reviews. We can utilize it to make great places to work for employees and Zweig Group is working to help firms in the AEC industry better utilize the data they are gathering internally. While utilizing and acting on the information and data gathered is

According to Zweig Group’s 2020 Valuation Report of AEC Firms , we see the disparity in equity value per profit (EV/P) among valuations done on behalf of controlling owners (3.64) relative to those done on behalf of minority owners (3.48). Overall, valuations performed on behalf of the majority ownership resulted in value ratios that were ten percent higher than valuations performed on behalf of the minority of non-controlling owners. Participate in a survey and save 50 percent on any Zweig Group research publication. A&E Architects........................................6 CHA Consulting, Inc................................2 HKS......................................................10 JQ Engineering.....................................10 LEO A DALY..........................................10 Shive-Hattery........................................12 Ware Malcomb..................................8, 12 F I R M I N D E X MO R E A R T I C L E S xz MARK ZWEIG: The road ahead Page 3 xz Empowering people: Dusty Eaton Page 6 xz MITCHELL SHOPE: Adopt a growth mindset Page 9 xz RILEY MCLEOD & GREG KANZ: An open letter from your marketing staff Page 11

Kyle Ahern

See KYLE AHERN, page 2

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