Thanks for sharing that link, Tom.
This is a comprehensive report worth review by both AIA Allied Partners and firm principals.
At a minimum, the principals of small firms (most of the AIA membership falls into this category) will learn that rather than retiring and simply closing their practice down (89%); 84% of larger firms have an ownership transition plan in place (page 17).
An ownership transition plan {like an Employee Stock Ownership Plan (ESOP)} converts the firm's founding principals' equity into a hard asset, it gives the next generation of leaders at the firm an easily accessible tool to buy out the founding principals, it ensures the firm's legacy in the community, and it operates as a powerful tool in the firm's recruiting and retention efforts. I mean, if you're looking for a new employer (assuming all other benefits are equal between 2 firms), why not choose the firm where you can have an equity stake?
This is just one of the valuable pieces of knowledge you will gain by reviewing the 2024 Firm Survey Report
sincerely,
Kevin
Kevin Harris, Assoc. AIA
2024 AIA CRAN Chair
2024 NAHB Leading Suppliers Council, Co-Chair
Director, Sales & Marketing, AGS Stainless
AGS Stainless is an AIA National Cornerstone Partner
Original Message:
Sent: 11/20/2024 1:54:00 PM
From: Thomas V. Lawrence AIA
Subject: AIA Firm Survey Report 2024
The 2024 Firm Survey Report was recently released (free to members!) and has lots of data separated by firm size. See how your small firm compares to other firms.
AIA Firm Survey Report
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Thomas Lawrence AIA
Lawrence Architecture
Seattle WA
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