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8 what seems to be a continuous basis. Our Deltek accounting system is cloud based, and we are deploying many advanced modules to increase efficiency and reporting accuracy for our project managers, and to speed up the invoicing cycle. We’re also undertaking a complete overhaul of our website. CONFERENCE CALL, from page 7 “We are a smaller company that wins large projects, and manages them very successfully – effectively ‘punching well above our weight class.’ This provides significant career growth opportunities for younger staff and a sense of energy and excitement in the firm.” TZL: What’s the best way to recruit and retain top talent in a tight labor market? PG: A few key recruiting elements for us are: ❚ ❚ A solid reputation among clients and peers ❚ ❚ Growth, longevity, and stability ❚ ❚ Diversity of services, including projects of the scope and scale that are the envy of our larger competitors ❚ ❚ Salary and benefits packages that are competitive or leading edge ❚ ❚ The real opportunity to become a meaningful owner Employee retention factors include all the recruiting ele- ments, as well as: ❚ ❚ Interesting and diverse projects to work on – the results of entrepreneurship ❚ ❚ A culture that promotes mutual respect and a work/life bal- ance ❚ ❚ Flexible schedules

TZL: What’s your preferred strategy for growth, M&A or organic? Give us a synopsis of how your firm effected growth in the recent past. PG: So far, our only source of growth has been organic. Many of the factors discussed above have allowed us to re- cruit aggressively and minimize employee turnover. We ful- ly subscribe to the co-op program at Northeastern Universi- ty, which is the best approach to recruiting entry-level staff.

TZL: What’s the greatest challenge presented by growth?

PG: The challenges that have been most evident to us in- clude keeping a good handle on overall operations manage- ment – especially among the mid-level and senior project management staff. A significant element of that challenge lies in the branch office management bucket. Supporting branch offices with marketing and business development activities, and maintaining good communications between offices are essential. Other notable challenges that come with rapid growth in- clude maintaining a solid QA/QC structure, and making sure the administrative staff grows appropriately to sup- port the line staff functions – especially marketing and ac- counting.

TZL: What is the role of entrepreneurship in your firm?

PG: We were built on entrepreneurship. It continues to fuel our growth and development. The firm has won numerous industry design awards for projects that many would see as out of our weight class. For example, this year we’ll receive our second American Public Works Association Top 25 Na- tional Project Award in three years. The award this year is for a $130 million water system that Environmental Part- ners Group designed for the small town of Eastham on Cape Cod – a community that had no public water supply system. We’re now managing the construction of the system over a six- to eight-year timeframe. “We were built on entrepreneurship. It continues to fuel our growth and development. The firm has won numerous industry design awards for projects that many would see as out of our weight class.” TZL: What’s your prediction for 2017 and for the next five years? PG: So far 2017 has been a very good year for the public works engineering community, and the prospects for the future appear to be bright in light of the infrastructure bill being debated in Washington. Given the heightened aware- ness that America’s infrastructure has not kept pace with the public demand for safe drinking water, a cleaner envi- ronment, and more efficient and modern transportation systems, I am optimistic about the next five years.

❚ ❚ Multiple offices that reduce commuting challenges ❚ ❚ Respected mid-level and senior level managers

TZL: What’s the key benefit you give to your employees? Flex schedule, incentive compensation, 401(k), etc.? PG: I believe that the entire spectrum of benefits are im- portant to employees, since each employee has their own individual or family priorities and needs. For some, the top consideration may be salary and bonuses; for others its flex schedules that allow them to manage child care needs. I also maintain that a key benefit is the entrepreneurial spir- it the company has always had. We are a smaller company that wins large projects, and manages them very successful- ly – effectively “punching well above our weight class.” This provides significant career growth opportunities for young- er staff and a sense of energy and excitement in the firm. TZL: How do you raise capital? PG: Profitability, efficient invoicing with relatively low aver- age collection periods and retained earnings.

THE ZWEIG LETTER July 31, 2017, ISSUE 1210

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