3
O P I N I O N
Are you built for growth?
With more work than we can handle and the current recruiting challenges we face, we need to be sure that our organizations have the foundations for sustained growth.
I started my career in the environmental consulting industry in the early 1990s. In the 30 years since, only the few years leading up to the Great Recession have rivaled the present for growth in our industry. Many firms are experiencing difficulties just keeping up with the work that’s walking in the door, and hiring difficulties are exacerbating the problem. I can’t recall how many times I’ve heard managers refer to the difficulty of finding the “unicorn” (perfect candidate) they aspire to bring on board.
Eduardo Smith
So, with more work than we can handle and the recruiting headwinds we face, we need to be sure that our organizations have the foundations for sustained growth. In essence, we need to instill a growth culture. WHY IT’S IMPORTANT TO GROW THE BUSINESS. No doubt, there are firms that are satisfied being busy enough, offering niche services, and maintaining a size that is comfortable for their owners and employees. That fits their definition of success, and there’s nothing wrong with that. However, there are valid reasons why growth is important: ❚ ❚ It provides career growth opportunities. In today’s employee-favored market, growth
opportunities are essential for attracting and retaining staff. Research shows that opportunity for advancement is (nearly) as important as salary when making job choices. If your firm isn’t growing, staff will probably recognize that opportunities for upward mobility are limited. ❚ ❚ Profitable growth typically leads to an increase in the company’s valuation. Whether in a privately held firm, ESOP, or publicly traded company, increasing the return to shareholders is typically a company priority. Profitable growth not only enlarges the bottom line, but enables investment that can further enhance the firm’s value.
See EDUARDO SMITH, page 4
THE ZWEIG LETTER OCTOBER 18, 2021, ISSUE 1413
Made with FlippingBook Annual report