Participate in the Zweig Group’s 2024 Financial Performance Survey and Capture Benefits 

Would you like to know how your firm’s financial performance stacks up to others in the industry? We need your help first. Your feedback helps us to produce valuable and necessary benchmarking data for the AEC industry. The deadline to participate in Zweig Group’s 2024 Financial Performance Survey is just a few weeks away and your input is key; all data collected is confidential. When you participate, you’re helping to inform the AEC community about growing trends and new developments.

Survey participants will receive 50 to 75 percent off any Zweig Group report of their choice; there are more than 20 from which to choose. Click here to see a complete list of all survey reports available. 

This 2024 Financial Performance Report and Benchmarking Tool provides insight into the 2023 fiscal year and includes comprehensive data on the financial performance, financial departments, challenges, methodology, and financial practices of AEC industry firms. It will include information such as: 

• Key financial statistics: This section will include information about net service revenue and profitability measures, labor multipliers, turnover rates, and professional/technical to administrative staff ratios, and more. Data will also be segmented by firm type, staff size, region of headquarters, growth rate, and client base, with multiple years of trend data for overall medians or means.
• Personnel costs: Major personnel costs are analyzed, including: payroll taxes, vacation, holiday and sick leave, group insurance, pension, profit sharing and 401(k) plans, and bonuses. Trend data is also given for historical spending comparisons. There will also be data on workers’ compensation premiums and claims.
• Growth trends and overall industry outlook and other financial stats: These sections will examine everything from annual growth rates and revenue and operating profit goals to contract types, financial and accounting software and more. 

5 Financial Benchmarking Benefits 

Financial benchmarking offers a mirror to a firm’s operational effectiveness, financial health, and competitive standing. In the dynamic and often unpredictable AEC world, it’s critical to have a clear understanding of where a firm stands in comparison to industry standards. Peer feedback can shed light on ways to improve and grow.

Benchmarking financial metrics such as: profitability ratios, liquidity ratios, and leverage ratios, against those of similar companies or industry averages allow firms to identify areas where they’re underperforming, while recognizing opportunities for optimization. This report will help firms with:  

1. Strategic Planning: By pinpointing financial strengths and weaknesses through benchmarking, AEC firms can develop more informed and strategically sound plans. This strategic planning based on concrete data helps to achieve long-term financial stability and growth.
2. Performance Improvement: Benchmarking serves as a reality check, helping firms understand their place in the market. It encourages continuous improvement, pushing AEC firms to adopt best practices and innovate, driving efficiency and effectiveness in operations.
3. Competitive Edge: In the competitive landscape of the AEC industry, staying ahead means continuously refining processes and financial performance. Benchmarking not only helps firms understand their competition but also helps them to identify trends and opportunities to innovate, so they can maintain or achieve a competitive advantage.
4. Financial Health: Regular financial benchmarking alerts firms to potential financial distress signals – early on. This early detection allows firms to adjust strategies, avoid possible pitfalls and maintain financial health.
5. Investor and Stakeholder Confidence: Demonstrating a commitment to financial benchmarking and continuous improvement can boost investor and stakeholder trust. It shows a dedication to maintaining efficiency, competitiveness, and financial stability.

So, for AEC firms aiming for sustainability, growth, and a competitive edge, adopting a robust financial benchmarking practice is not just recommended; it’s indispensable. It offers a roadmap for improvement, innovation, and strategic decision-making – all of which are crucial for thriving in a fast-evolving industry. 

So, join the fight for financial success and participate in the survey here: Financial Performance Survey.