What Kind of Office Will We Return To?

What Kind of Office Will We Return To?

As the Federal Government has gone effectively AWOL, it is up to the States to determine when to open the economy and start letting people go back to work due to the coronavirus. Unfortunately, most States are going their ways, as described by FastCompany and Wired. Former FDA Commissioner Scott Gottlieb told CNBC that employers need to have specific plans in place for how to return workers to the office or shop floor safely. Gottlieb suggested, “In an office, you could split your employees — have half of them work at home, half of them come into the office on alternating days. . . . You should continue to encourage telework where you can.”

Even as things open up, many are following Gottlieb’s advice and teleworking. Amol Sarva, CEO Knotel, says that Uber is planning to get its staff back to their offices in San Francisco, but only 20 percent of personnel allowed in the building on a given day. Google and other large tech companies have announced that their workers should prepare to work remotely through the Fall and possibly the end of the year. But the office won’t disappear, it is here to stay as many challenges come with working from home, and people are social creatures.

 

Working from Home

However, regardless of the States opening up, many employees will not return to the office, or at least not full time. According to an MIT report of Americans who previously commuted to work, 34 percent were working from home by the first week of April. Before lockdown, only 4 percent were working from home. Kate Lister, president of Global Workplace Analytics, predicts that 30 percent of people will work from home multiple days per week within a couple of years.

According to Travis Vance, at Fisher Phillips, “I think some people may never want to go back to an office setting.” Steve King, a partner at Emergent Research, told Recode, “[Remote work] had been proven before this, but a lot of company management and leaders showed great skepticism . . . That skepticism will go away because companies recognize that remote work does work.”

With employees working from home, it was quickly apparent was that the better-prepared companies were those whose employees had already worked from home. Data shows that the most frequent employee expenses in the first half of March were computer monitors, desks, office supplies, mice, and keyboards — a departure from the norm.  According to a recent PWC study, about half of businesses expect productivity to fall during the pandemic due to a lack of remote work capabilities. Also, more formalization and company policies around remote work are necessary for the shift to be successful.

Many employees are finding that their home environments are not well suited to work, and so are spending money to create better home offices. Katie Storey, principal at Storey Design, says “there’s now a real focus on where can we convert a closet or add a room under the steps or where can we reconfigure parts of the house to be more functional work-from-home space.”

 

Initially On Return

Companies are going to have to implement systems that make workers feel safe before they will return. Many companies will adopt quick changes that have limited costs, like:

  • Providing face masks and deeper office cleaning;

  • Adding foot-pulls to the bottom of doors for hands-free access;

  • Developing hand signs or space markers for co-workers to remind others to keep their distance;

  • Seating may be roped off or removed from conference rooms to cut occupancy in half.

  • Doors may be taken off hinges or propped open so employees can avoid touching handles;

  • Signs are likely to point people in one-way traffic flows through hallways to help employees avoid passing each other close by — even if that means taking the long way to the bathroom;

  • Well-spaced desks with large dividers between them. “In the immediate future, “we’ll see physical, hard things that create separation,” according to Cavataio, President and COO of the Cuningham Group;

  • In common areas like meeting rooms and kitchens, expect to see fewer chairs and posted documentation of cleaning reports;

 IBM is eliminating buffets and shared serving tools in its cafeterias and taking out furniture in other spaces to ease social distancing concerns in conference rooms. Lunchtimes could be staggered as employers try to thin crowds in campus cafeterias. “It’s like in school, where you have lunch starting at 10:45 and going until 2 p.m. You’ll see a lot more of that,” says Vance.

 

The Future of the Office

The modern office was initially designed by Frank Lloyd Wright, which emphasized natural light and space between desks. However, we have lost that vision as today’s open offices are used to cram more employees into smaller spaces. For years, the amount of privacy allotted to each person working in an office has steadily decreased as companies of all type adopted the often loathed open office plan. After the 2008 recession as office jobs increased, companies have been packing more and more people into open space offices, a practice known as “densification.” The effect has been a more distracted workforce, and surveys have shown that face-to-face communication declined by 70 percent, while electronic communication increased.

Well, that model is gone!

So what is the future? We’ve already seen a little of the future, as many organizations implemented greetings policy changes before sending employees home. Handshakes are out, and new greetings have emerged. Earlier this year, billboards in Beijing promoted clasping one’s own hands. The UAE and Qatar asked citizens to avoid nose-to-nose greetings, and the French government frowned on greetings with a kiss. It is likely handshakes, and French embrace will not return.

Here are the things we can expect.

 

Design

Offices still need personal space, natural lighting, and quiet enough to concentrate on being fully productive. As Cavataio notes, “Over time, we will start to design differently to create space versus how tight we can get it. Can we get our generous six feet of physical distance and still create a company environment people want to be in, knowing you have safety inherently based in the design?” Rather than desks facing each other or next to each other, workstations may be back to back with more distance between them. Conference rooms may have their seating cut in half. Also, an increase in private spaces and personal offices for individuals may return. Communal areas like kitchens and lobbies will have their seating areas reduced with more space.

Beyond desk arrangements, designers and public health researchers will have to address all spaces people move through offices, i.e., elevators, corridors, hallways, etc. Plans to address COVID, may become a regular feature in office design in the future, i.e.

  • restroom entrances without doors, like in airports;

  • corridors wider than the current five feet;

  • voice-activated elevators or touchless elevator controls;

  • Antimicrobial materials in new construction; and

  • Videoconferencing even within the office to avoid the conference rooms.

While meeting rooms will still be necessary, companies will reconsider what types of meeting rooms they want, and what kinds of meetings will require in-person attendance. Expect new meeting rooms geared towards group projects and collaboration.

In response to a flexible workforce, companies will require adaptive energy systems. Currently, office design accommodates a certain number of employees on any given day. If only half of the employees are now in the space, the energy usage is unlikely to change much, but the rooms may end up being colder than usual.

Expect increased automation and voice technology throughout the office. Voice technology, like Amazon Alexa for Business, could become a new interface and remove the need for physically pushing a button or touching a surface in an office. According to Bret Kinsella, founder & CEO Voicebot.ai, “There is voice tech in warehouses today but very little in office settings. That will absolutely change.”

An example of the future is already here in Bee’ ah new headquarters in Sharjah, UAE. Designed by Zaha Hadid Architects, the building has “contactless pathways,” enabling employees to touch the building with their hands rarely. Office doors open automatically using motion sensors and facial recognition, while lifts – and even a coffee – can be ordered from a smartphone.

Cushman Wakefield, over the past month, has helped 10,000 organizations in China move nearly 1 million people back to work after the country reopened its. Managing 800 million sq. ft. of office building space in China has enabled Cushman & Wakefield to get ahead of the learning curve. According to Despina Katsikakis, of Cushman’s occupier business performance, Cushman used its learnings, World Health Organization data, and medical specialists’ advice to develop a concept called the Six Feet Office. It has already applied inside its Amsterdam headquarters.

CUSHMAN & WAKEFIELD – THE 6 FEET OFFICE CONCEPT CONSISTS OF SIX ELEMENTS:

  • 6 Feet Quick Scan: A concise but thorough analysis of the current working environment in the field of virus safety and any other opportunities for improvement.

  • 6 Feet Rules: A set of simple and clear workable agreements and rules of conduct that put the safety of everyone first.

  • 6 Feet Routing: A visually displayed and unique routing for each office, making traffic flows completely safe.

  • 6 Feet Workstation: An adapted and fully equipped workplace at which the user can work safely.

  • 6 Feet Facility: A trained employee who advises on and operationally ensures an optimally functioning and safe facility environment.

  • 6 Feet Certificate: A certificate stating that measures have been taken to implement a virus-safe working environment.

Some companies are looking into mandating thermal scanners, according to Tom Puthiyamadam, leader of PwC’s U.S. Digital practice. “Not every enterprise is going to command and control mode, but I think right now some of these practices are warranted. I don’t think many employees are going to say no because a lot of [them] are actually scared to come back in,” said Puthiyamadam. Goldman Sachs is leading this as it considers installing infrared body temperature scanners to some offices, and ensuring that, once they are available, virus and antibody testing kits for employees are in offices.

 

Hoteling

Kay Sargent, of HOK, thinks more companies will turn to shared desks, known as “hotelling” or “hot desking.” “Perhaps you divide the workplace in half, and half the office can come in on Monday and Wednesday, half of the office can come in on Tuesday and Thursday,” said Gable Clarke, of the architecture firm SGA. Alternating days would come with alternating desks or non-designated desks. As shared workstations have long been a hotbed of disease transmission, designers expect the disappearance of shared keyboards and for companies to introduce clean desk policies. “Janitorial staff often cannot clean desks with personal items on them, as it’s a liability,” said Armen Vartanian of Okta. “It will likely be more sanitary to have open desks and workstations — equipped with the latest technology — that employees can pick each day and  cleaned afterward.” All nonessential items stored in cabinets and drawers rather than on the desk to ensure proper cleaning and sanitation.

 

Sanitation

First, get ready for the “health cop,” as companies will have to deputize someone to enforce the new social distancing rules. “Enforcement becomes important because it’s human nature to sort of want to congregate together,” said Clarke.

However, sanitation efforts could be tremendous. According to Cavataio, regular offices will look to health care design as every surface; door handles, light switches, countertops, copy machine buttons, AV equipment, coffee makers, and many more, have to be cleaned. Like healthcare, businesses may require:

  • copper fixtures;

  • fabrics that retain fewer germs and cleaned easily;

  • more space in kitchens and bathrooms;

  • as well as more attention paid to how far liquids can splash;

  • UV lighting to disinfect offices at night or meeting rooms in between uses;

  • increased cleaning rotations;

  • virus-killing ultraviolet light to sterilize surfaces;

  •  install air filters; and

  • touch-free technology, such as automatic doors and sinks.

Designers say they are receiving inquiries about disinfecting UV lights and easier to clean materials. Nicole Keeler, of Nelson Worldwide, said companies and building owners are enquiring about easy-to-clean materials. “There’s surfaces that are antimicrobial, just like you would see in a healthcare system or in a laboratory,” which may become a new norm for workstation surfaces, she said.

Many expect upgrades to office HVAC systems to stop the spread of infection, i.e., Purgenix. The International Facility Management Association (IFMA) is working with other specialized groups for cleaning and ventilation systems to create guidelines and protocols for building operators around the world. While proper ventilation is key to preventing the spread of COVID-19, a big trend could be merely opening a window. However, many offices are currently sealed, controlled units requiring a significant renovation. Where filtered air is the only option, high-end office climate control systems may be the best solution. Due to China’s poor air quality, such systems were already popular; however, these systems may have assisted the return of office workers so quickly.

 

Tracing Tools

While there appears to be general resistance to tracing tools issued by the government, companies are free to require them. Such tools would be either a new app or an updated business app that workers already have on their phones, which runs in the background. Using Bluetooth or WiFi signals, they would catalog other co-workers’ phones that come near. When an employee tests positive to COVID, managers would quickly identify and notify any colleagues the employee had been in contact with to help limit a broader outbreak. The advantages are that such tools avoid the lengthy interviewing process of employees, asking them to recall their interactions.

PricewaterhouseCoopers is launching a new contact tracing tool for businesses in early May, and more than 50 clients have shown interest. PWC’s tracing works only on corporate properties, doesn’t collect location data, and can only be accessed by authorized managers. Over the last four to five years, companies have increasingly used motion- or WiFi-detecting sensors installed on ceilings or desks to whether spaces are underutilized. Now they are going to be used for the opposite purpose, are spaces appropriately utilized. Is the right spacing? Are there pinch points where there’s overcrowding? Sensors will be able to tell when people vacate a seat and alert cleaners to clean it again before the next employee uses it.

 

Coworking Spaces

Many large companies were increasingly taking advantage of the flexible terms of coworking space rather than taking on long-term leases. Aside from the pre-COVID collapse of WeWork, the issue now is, “are companies going to want to put their entire team in one place, where they’re closely mingling with other businesses?” While some form of coworking spaces may remain, they will be very different – the bars, hang out areas will all be gone, and the models will revert to move of a “Regus” system.

 

The Commercial Real Estate Market

What will be the impact on the commercial office market? COVID is having a considerable effect, but the net outcome is hard to measure right now. Employees working from home have effectively expanded the supply of office space significantly. As a result, the amount of space needed by companies should fall. However, with the increase in space required for social distancing, more space will be required for each employee. “In short, it is too early to tell if companies will lease less space,” Julie Whelan, head of occupier research for America at CBRE, told Recode. “While they may need less space because some people may conduct some of their work remotely, they may also need more space to provide the social distancing that employees may feel they need to be comfortable.” These two trends may cancel each other out.”

 

Copyright (c) 2020, Marc A. Borrelli

If You Want To Succeed, Look to Darwinian Evolution

If You Want To Succeed, Look to Darwinian Evolution

As we move towards opening up the country to varying degrees, I see some interesting data points.

 

Many consumers and businesses are wary.

While I don’t have any specific data, talking with friends, clients, and looking at social media, I see that most people are careful. They are:

  • social distancing,

  • avoiding contact with others,

  • wearing masks and gloves, and

  • not going to restaurants.

Furthermore, I don’t see anyone in a hurry to change this behavior. I look forward to seeing some data on this.

 

Some businesses are open.

As I move around Atlanta, I see many retail locations are open, from Home Depot to some small local retailers. What I notice is that Home Depot is still busy but at a lower level than pre-shutdown. Many small local retailers are open but empty. From what I have heard, some hotels are operating, but service is limited, and the employees are continuously cleaning after each guest touches the doors, check-in desk, etc.

Online business is operating at full speed and shows little signs of slowing. The biggest issue will be their inventory. B2B remains relatively strong in specific sectors, but as the effect of more bankruptcies and closures ripples through the economy, I think demand could weaken.

 

Some places are giving up on data and experts.

Many states are opening up before meeting the guidelines set by the Administration, i.e., Georgia, and Texas, and the White House is encouraging this behavior and anti closure protests. Furthermore, Arizona has halted its partnership with experts predicting coronavirus cases would continue to increase. The argument is that we have to open up as the damage to the economy cannot be sustained. To stop the fear, kill the messenger. To quote David Farragut, “Damn the torpedoes… go ahead! … full speed!”

 

The delicate nature of our supply chain.

An interesting paper argues that the cost of opening up is higher than the price of shutting down, as we are learning daily that our supply chains cannot take the hit from illness, i.e., the meat industry, nasal squabs, fresh produce. Could other sectors be affected? What would happen if the energy, transportation, or pharmaceutical sector failed? We aren’t even sure which industries are critical. As this progresses, will more industries stop working effectively as their supply chains stop working? I expect so, and we will learn what is vital.

 

Waiting for a return to the old normal.

Many are looking forward to a return to the way things were before COVID-19 hit. I don’t think we are returning to that period. If we look at 9/11, 3,000 people were killed, vs. 76,000+ today of COVID. Also, the economic loss will be much higher. Events like this will change behavior for many forever. Some of the things I see being affected are:

  • Business travel

  • Flying

  • Hotels

  • Rental Cars

  • Ride Share

  • Restaurants

  • Large meetings/events

  • Sports

I am sure I will be proved wrong, but things will be different. An interesting article on how COVID might affect restaurants like Prohibition affected drinks may provide food for thought.

 

What does this mean for your business?

As I have said in this weekly newsletter before, Darwinian evolution holds that those that adapt best to the new environment will survive. Therefore, the questions for all CEOs and business leaders are:

  • How do we continue to perform in this new world?

  • What is our new environment?

 

Performing in the New World.

There is resistance among many in the U.S. to look abroad for best practices that are implementable here. As a CEO once told me, “There is nothing anyone can teach us.” However, many of our current practices came from abroad, i.e., just in time manufacturing and continuous improvement. So why not.

While experiencing about the same number of diagnosed infections as Italy, Spain, France, and the UK, Germany has registered approximately one-quarter as many deaths. Also, German authorities gave all factories the option to stay open through the pandemic, with the result that over 80% of did so, and only one-quarter have canceled investments. Businesses, to protect workers, implemented strict safety rules early on, and managers involved unions and employees in safety planning. Regional governments were quick to test and trace chains of infection to contain the spread. Finally, many German firms having ties to China had a jump on planning for operations through a shutdown. As a result of its experience in China, Volkswagen implemented a 100 steps affecting many aspects of workers’ routines, including where to change into work clothes, where and how to eat lunch, and how to check for Covid-19 symptoms.

Ebm-papst Group, a family-owned fan and motor manufacturer, has kept its domestic factories running at 80 percent of normal capacity. With three factories in China, management got an early warning of the seriousness of the pandemic, and so they sought to buy masks. Today they a full-time employee whose sole responsibility is to source masks and now have over 100,000 stockpiled. To provide a safe environment, social distancing, ubiquitous face masks, in-house Covid-19 tests, and contact tracing when employees fell ill helped enabled the company to keep its plants open. Ebm-papst, like most German companies, involves employee representatives in management decisions. The head of personnel and a workers’ representative sit on the crisis task force. To date, only 15 of its 6,700 employees in Germany have contracted the virus, and the workers feel safe.

However, the German economy is not immune to COVID and will probably suffer its most significant downturn since WWII. Furthermore, German’s rely heavily on international trade and global supply chains, which could remain under pressure for months or even years. Yet many economists, including those from the International Monetary Fund, thi
nk that the decision by German companies to keep running through the lockdown could allow its economy to recover faster than other nations next year.

 

What is our new environment?

This question is more complex; however, all CEOs and business leaders need to have a team to look at this. As I have said before, they need to look beyond what is happening today, and consider:

  • How could our supply chains be affected?

  • How could my customers’ supply chain be affected?

  • What will our working capital look like going forward if we have more inventory?

  • Can we source more products locally and reduce reliance on international supply chains?

  • How will our business operations change going forward, great WFH?

  • What costs have we cut that we can live without going forward?

  • What personnel have we cut that we don’t need?

  • What roles have we cut that we don’t need?

  • What roles do we need that we don’t currently have?

  • What employees/skills do we need that we don’t currently have?

  • What do we need to do to keep workers and customers safe?

  • Will any consumer/business behavior or government policy changes affect our business?

  • Will any consumer/business behavior or government policy changes affect our customer’s business?

  • Will any consumer/business behavior or government policy changes affect our supplier’s business?

  • How financially stable are our customers and suppliers?

  • How financially stable are their industries?

  • What new markets are available that were not before?

  • What new clients can we attract with our service/product offerings which we didn’t have before?

  • What happens if revenue falls by 25%, 50%?

  • What happens if revenue grows by 25%, 50%, can we meet standards and delivery schedules?

  • What should we automate?

  • How should we change our investment plans?

This is not a definitive list, but definitely, a place to start. Good luck and if I can help, contact me.

Copyright (c) 2020 Marc A. Borrelli

Customers are People Too

Customers are People Too

In discussions with some of my clients, I have asked if they are reaching out to their customers directly, CEO to CEO. Some are, but some respond that everyone is so busy at the moment, they are just leaving them alone. I think this is a mistake.

Yes, we are all busy, and stressed. However, if you accept that how you act over this period will define you for the next ten years, then I think reaching out is a great investment. But don’t get me wrong, this is not about call up asking for an order. Rather, operate empathy-first. Ask how they are doing, is everyone in their family safe and well. Tell them what you are doing to get through this and what can you do to make their life easier. Prioritize in-depth relationships with customers and focus on quality over quantity, as we all know we should do when it comes to relationships.

You may find they are stress and have no one to talk to because they are the CEO. Talking, sharing ideas, being empathetic, and just listening may be the greatest thing you can do for them now. I remember a story my father told me when he had just started his industrial catering business. One day he at his largest and most important client, he stopped and asked a young junior executive how his meal was and was there anything he could get him as the young man seemed unhappy. The young man thanked my father and shared that he was anxious as his child had been taken seriously ill My father sat with him for an hour during my father’s busiest time of the day just listening to the young man talk. About twenty years later, that young man was promoted to CFO of this organization. My father sent him a bottle of champagne to congratulate him. The executive sent back a note which said, “I have never forgotten the lunch you spent with me when I was a nobody and was anxious about my son. The contract is yours for as long as you want it and I am here.”

Customers will remember how you treat them now and may do for ten plus years. A few calls is a small investment.

 

Copyright (c) 2020, Marc A. Borrelli

You Need a Peer Group, NOW!

You Need a Peer Group, NOW!

In 2007 the recession hit, and at the time, a partner and I owned a mergers and acquisition boutique that we had built up over three years. In December 2006 we closed our biggest deal yet and had a full pipeline as we moved into 2007. Then things started drying up, and by Q4, there was nothing. Looking into 2008, we figured a few deals would come back to life, but that was not to be the case.

As my partner and I talked through options to save the company and keep us moving forward, we exhibited some of the five dysfunctions of a team. We discussed some hair-brained ideas, including doing what we had done before, but just with more considerable effort. None of the ideas worked, and looking back; we weren’t thinking things through, looking at new markets, and holding each other accountable. Then we did what most of us do when stressed; we fell back doing the things with which we are most comfortable. My partner distracted himself with an executive Ph.D., and I, who was already distracted with the recent death of my mother, my divorce, and my children’s custody, reverted to doing financial analysis and modeling. These distractions enabled us to convince ourselves that we were swamped, which we were, but were not moving the company forward.

I did manage to get us some consulting work, but It was not until 2011, after joining a Vistage group, that we were back on track. However, looking back at that time, I would have given anything to be in a Vistage group from 2006. I needed a group of Peers to:

  • Challenge my thinking and assumptions;

  • Force me to accept what was happening and look for new opportunities;

  • Push me and hold me accountable for commitments;

  • Make me realize what I was doing was ineffective;

  • Challenge me about my concepts of the future and the status quo; and

  • Make me express my vision and strategy.

Not only that, but a Vistage group through its great speakers provides education on so many fronts that there is always something to learn.

As I reflect on this, it reminds me of a moment in 2004 when a Vistage Chair came to see me and tell me about Vistage. I was an overconfident, arrogant, young business owner who believed he didn’t need “no stinking help!” As I said, fast forward several years, and when a second chair proposed joining Vistage, it was like “Throw me a lifeline, I am drowning.”

Few business owners and CEO invest in themselves because they are successful, don’t realize they have stopped learning, don’t think anyone can understand their business, and don’t have time. Over my career, I have worked across many industries, and with many companies and never found a business model I can’t understand. The most significant issue is the confusion is over the myriad of TLAs ( three-letter acronyms) that a unique to a company and industry.” However, remember, as Marshall Goldsmith said, “What Got You to Here, Won’t Get You to There.” Regarding the lack of time, we all find time for what we deem essential. If learning and improving yourself and your business are a priority, then you can find the time. Furthermore, if your business cannot survive for a day without, you are failing as a leader.

Today we are experiencing a variation of 2008’s crisis. Our success as a leader is determined by how we emerge from the disaster. Many will emerge batted and beaten, some will appear as they went in, on a form of autopilot, and then some will develop more robust and resilient, and in a market leadership position.

To make sure you are among the latter, you need to be a member of a Peers Group, i.e., a Vistage Group:

  • where the members’ only price for helping you succeed, is helping them achieve their success;

  • to challenge your assumptions and prevent hubris;

  • to hold you accountable for your commitments;

  • to provide resources to help you and your organization succeed.

My groups are currently meeting weekly to:

  • Provide Emotional Support and Mental Health – We take time to discuss how we are all doing What is happening in our lives, with our families. This discussion occurs before we get to business.

  • Provide Information and Support – The members are helping each other with finding community banks that will provide PPP funds. Helping refer new business to each other. Advising in the areas that are the key competency to the others.

  • Charting the route forward – questioning each other about what the future holds and how they will be successful in the future. Who to keep and let go to ensure they have the right resources in the future. What clients need attention or cultivation and which need to be “fired” as they are too expensive to keep.

  • Employee Care – How to deal with employee issues from hiring in a virtual world to firing. We are discussing how to bring the workforce back safely and avoid litigation. Other topics are how to compensate them for extra efforts, promote those that have risen to the occasion, and what to do with those in leadership positions who didn’t.

Bart Garvin, Owner, and President of Garvin Industries expressed the benefit of such groups, “Because we’re all human, every business owner or CEO has multiple blind spots. Those blind spots often give us a distorted perception of truth inside our company, and it’s all based on our past experiences. [The group] forces me to step outside my business and be intellectually honest about my blind spots so I can change them.”

Looking back at the Great Recession, Vistage Member Companies outperformed their peers, as shown below. Vistage members grew revenue by 5.8%, while non-Vistage members saw a 9.2% decline. Many ask, “Is it the Chair, the peer advisory, the insight, the outside perspectives, the tools, the resources, the research, the speakers, the decision model……?”  No, it is all of them in a group like Vistage.

Vistage CEO member companies who joined in 2006-2008 and were active members in Feb, 2010. CAGR for Vistage member companies calculated for period covering year prior to joining Vistage through 2009. CAGR for D&B US companies based on 2005 – 2009 revenues, weighted to match Vistage company distribution per year during the same period. All companies had >=$1MM annual revenue, >= 5 employees. Vistage: 1,265 companies. D&B: approximately 1MM US companies.

A peer group is not an expense, but an investment and one, similar to a gym, if you go and use correctly, will pay huge dividends. Do you want to be a company represented on the left or the right of the above graph? Now is the time to get involved and push to make you and your organization stronger. Leave it too long, and those who do will have leapfrogged over you. If you want to learn more, contact me.

 

Copyright (c) 2020, Marc A. Borrelli