Hot Firms show tremendous growth, and Best Firms clearly preparing for the future.
By Richard Massey
The top 25 Hot Firms this year showed the industry what it means to grow. On average, the Top 25 grew by 129 percent in terms of three-year percentage growth, and by more than $43 million in terms of dollar growth.
While the Top 25 were clearly ahead of all the other firms, those that appeared on the list from 26 through 100 had nothing of which to be ashamed. Firms in the lower quartile, for example, still grew by an average of 51 percent, and had a dollar growth of nearly $9 million. Not bad for firms on the “bottom” of the list.
In regards to the Best Firms To Work For, the results were gleaned from surveys of more than 11,300 people in the A/E industry, from C-suite executives down to administrative staff.
Of note is the percentage of Best Firms – 40 percent – that offer tuition reimbursements for business school. Engineering and architecture are one thing, but running a business is another. The Best Firms “get” this dynamic, and through tuition reimbursements, are clearly grooming the next generation of leaders.
Another standout in the survey results was the number of firms that use open-book management on a regular basis. Of the firms surveyed, nearly 21 percent said they share financial information with the entire firm on a monthly basis. But this is not markedly higher than the number of firms that don’t, at 18.4 percent. Firms that conduct open-book management say the process instills vision up and down the organization chart, giving employees at every level the information they need to help the firm
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