Ask any CEO and the prospect for growth is at the very top of the list of imperatives to achieve. And why not? Without growth, there is little future for most companies, especially in our industry. After all, in the high growth environment in which we work, there is little patience for status quo from investors, boards and leaders of companies.
It is clear the tidal wave of high-profile, well-financed projects is coming — quickly. Companies are already positioning for what is ahead. From the largest to the smallest, most believe they will be positively impacted by the dramatic needs that are upcoming. There is a clear trickle-down effect that has the potential to engulf the industry. Yet, each company and each service provider must be prepared. And while for many that preparation has been underway for months, and even years, gaps still remain, especially in the identification, hiring and enculturation of high-quality leaders and craftsmen.
The key is taking care of business today while having a clearly defined plan of action to not only address but also be properly positioned for what is next. Companies in the industry have varied plans to build on their strengths and address the opportunities the future holds. Large companies are working to add to their already diverse work force, while mid-size companies look to build on their organizational strengths while continuing to add capacity and increase depth.
Each company will approach growth with diverse strategies. There is no right or wrong approach — what is right for a large company may be very different from that of a growing or smaller company. The right strategy is often dependent upon a multitude of factors, including market position, existing organizational structure and culture, as well as human capital strategies.
The company of the future will not necessarily be the largest, rather the most adaptable. Companies continue to work to increase responsiveness and flexibility in order to become among the most adaptable, both for the industry and its clients.
Often, the fundamentals of companies committed to responsible growth mirror those of companies committed to careful and continuous performance improvement. They recognize the very fundamentals that drive their success today — being well managed, well funded and highly organized with a committed culture as well as a defined safety focus. And their progress is measured and continually evaluated. While these companies’ actions around performance portend favorably to future success, they do not ensure their growth will achieve levels that meet industry demands of tomorrow.
Regardless of where your company is positioned today, there is agreement tomorrow requires more than what our industry offers today. There are companies looking at acquisitions, aggressive human capital initiatives and even innovative partnership strategies. Regardless of strategy — the success is dependent on the execution and, perhaps most importantly, the alignment with existing organizational culture and practices.
People are the greatest need across and within our industry. Even today, we see companies with a shortage of trained craftsmen filling jobsites with workers who are not qualified for the task they are asked to complete. Craftsmen trained to construct scaffolding are asked to conduct work in fireproofing and visa versa. Not only does this compromise quality and sacrifice time on the job, more, it dramatically impacts safety — of the worker and his coworkers. It is not an acceptable practice to anyone in the industry, yet it still happens. It speaks to the real and growing shortage of trained, qualified craftsmen.
Companies are not simply looking for people, craftsmen and leaders, they are looking for individuals who share values and meet the articulated behavioral competencies that define their way of working. Of course, they are looking for men and women who bring the requisite knowledge, skills and abilities to achieve the results both customers and the companies expect. That is often only the beginning of their qualifications because companies with defined human capital strategies are looking for individuals who meet the very characteristics of the best and most productive and successful employees. They also must understand and adhere to the behaviors that define a company. In short, as companies grow, to be successful they must bring in talent that either mirrors their existing work force or must be adaptable enough to be trained to live up to its existing standards.
Culture can never be taken for granted. The most successful organizations have worked diligently and purposefully to protect and expand their culture. No company can afford to sacrifice culture for the sake of growth — short term there may be success, but long term there is often frustration — noticed first by frustrated customers who question, “Why is this work being completed differently?” Ultimately, long-time employees of a company are the ones who lose most with a company not committed to protecting and evolving its culture — as they comment on the changing norms and challenge the work with comments about “this is not the way we used to care about and complete the work.” Therefore, it is not only possible but incumbent upon the company to put the practices in place to ensure the culture is protected.
Culture should be non-negotiable in your company. The company way is a defined way of working and the only way to encourage your people to be. Regardless of its size or sophistication, it is not the investment in a new campus or training center in which your company is most proud, it is the investment in the people that is most important to you and your future. It is in a new facility you will work to transform your work force — existing and new — and instill the values you believe drive your culture and performance.
While the development and continued acquisition of talent is paramount, there is a recognition companies will also grow through acquisition. But responsible growth requires even more due diligence to ensure a responsible acquisition. It is one thing to grow for growth’s sake — it is another to grow to build meaningful and measurable capacity for the future. As it is with the work force, the careful identification of companies with shared visions and similar cultures is also critical. There are acquisitions that can look favorable from a financial perspective; however when vetted more carefully, gaps in culture become more apparent.
No matter how similar companies may appear to be in terms of their views of culture and performance, the manner in which they are brought together and the people are assimilated will ultimately determine the success of the growth strategy. Culture will happen — the key is whether the intended culture will prevail. Companies should always believe and invest in protecting culture, as well as their understanding of what it means to work and be safe.
How companies grow and bring their people together around one vision and one way of working will ultimately define the future of the company and its ability not only to achieve its full potential but also to meet the needs of its customers and its industry with its evolving work force demands. Growth brings many opportunities — the key to capitalizing on the growth is defining and working to achieve the stated and desired outcomes.
So, while companies across the industry continue to grow to address the needs of today and tomorrow, the question remains — how responsible is your growth?
For more information on performance, contact Brad Deutser, director of performance at Apache Industrial Services, at (713) 899-9766, bdeutser@apacheip.com or visit www.apacheip.com.
