It’s a bold objective, but it’s one we take seriously. For us, achieving this vision means being recognized for the quality of our work among the top 10 companies, worldwide, in our industry. Top 10 firms work on complex projects—whether they are just down the street or national in scope— for top, long-term clients. Another benefit of this objective is that it allows us to attract and retain the most talented and innovative employees—something we take pride in already.
Growth results from enhancing the depth and breadth of our expertise, adding complementary practice areas, and expanding our geographic locations. Our strategy is to combine internal growth with the acquisition of firms that believe in and want to be part of our vision.
Organic growth is a key focus for Stantec. We achieve organic growth in two ways: 1) by adding services and capabilities in our existing regions and 2) by broadening our relationships with existing clients and offering new national and global clients the full breadth and depth of our services and capabilities.
For us, the best clients are those with whom we have long-term relationships and for whom we provide multiple services. Currently, 70 percent of our business comes through repeat clients, and our top 10 clients account for only 12 percent of our revenue.
We reach targets and mitigate risk by putting client relationships first. Our goal is to expand the number of top clients we serve through an account management program that builds on our relationships with existing clients and meets more of their service needs. At Stantec, the relationships we form span multiple projects and last lifetimes.
When we acquire new companies we strengthen the Stantec community. That includes the many areas we serve and the thousands of us working together to serve them. It expands our principal assets: people, projects, and client relationships. For our acquisitions to be successful, we ensure the following:
Cultural fit We look for companies that share our culture, or “personality.” This is the number one consideration and driving force behind any acquisition.
Integrated Team philosophy We embrace companies that believe in working as one team, and we encourage newly acquired staff to be fully engaged in the bigger picture at Stantec.
Leadership engagement Leaders of acquired companies have a vital role to play in setting examples for their staff by being engaged participants in the acquisition and integration process.
Focus on people and projects As our most important asset, people are our primary focus, followed by projects. We make sure that newly acquired staff know the benefits of joining Stantec early in the integration process.
Our business grows when we expand the depth and breadth of our services in response to our clients’ needs. We see a number of trends in the demand for services, including the following:
- Clients are reducing the number of service providers they deal with to streamline their operations and improve quality control.
- Clients prefer to work with a single-source provider who offers multiple services and integrated delivery.
- Clients want more and broader expertise from their service providers. Clients are seeking broad, multidiscipline expertise from local service providers.