Technical professionals are affected by failure too. Mark Zweig offers four examples.
Many people think engineers and architects don’t really care about whether or not the company they work for is profitable.
“They just want to be left alone so they can work on their projects.”
“If the projects are good they don’t care about the company.”
“They don’t know anything about business or the numbers of the business so bad financial news doesn’t sink in.”
While I’m sure there is a certain amount of truth to some of these statements, one thing I do know: no one likes to be part of something that loses money. It is bad for the self-image of the individuals involved.
The significance of this has been driven home to me more than once – with cases involving both client companies and my own businesses. You would expect losing money to be a “kick in the stomach” to the owners but not necessarily the employees. But it is to them also. Think about it:
Their résumé will be forever linked to their employers. If the employer declines and/or ultimately fails, they’re tarnished, too.
Their pay is tied to the success (or lack of it) of the enterprise. Unprofitable companies or unprofitable units inside companies usually find themselves unable to take care of good employees at some point.
Their personal development slows down. Training and other off balance sheet investments typically stop when the firm or unit becomes a loser.
Their stress increases. The water cooler banter about lack of success takes its toll on morale for everyone. Other employees gripe about being dragged down by groups that aren’t profitable. Constant fear that the ax may fall puts people under a lot of stress. Some take it home and end up with marital or other family relationship problems as a result.
Zweig Group, a four-time Inc. 500/5000 honoree, is the premiere authority in AEC management consulting, the go-to source for industry research, and the leading provider of customized learning and training. Zweig Group specializes in four core consulting areas: Talent, Performance, Growth, and Transition, including innovative solutions in mergers and acquisitions, strategic planning, financial management, ownership transition, executive search, business development, valuation, and more. Zweig Group exists to help AEC firms succeed in a competitive marketplace. The firm has offices in Dallas and Fayetteville, Arkansas.