AIA’s Firm Survey is one vehicle that was created to help provide insight into the business of architecture-to help firms make those comparative assessments. It allows firms to look at attributes important to them and competitively assess how they are performing. Regardless of how a firm defines prosperity, benchmarking is important. While financial metrics and success are a part of that, so is the creation of a diverse workplace, commitment to sustainable design, and investment in giving back to a community. AIA’s work has similarly framed prosperity as being comprised of many different facets. In ARCHITECT Magazine’s list of the top 50 firms, the highest were ranked based on achievement in various areas: business, sustainability, and design performance. Prosperity is something all firms are striving for, and success can take on many forms, especially for architecture firms. Strong revenue and profits point to a firm that is financially healthy and operating efficiently, while a strong share of repeat clients is an indicator of client performance and satisfaction. It is an online interactive portal that launches with a module containing three key performance indicators of financial success-revenue per employee, profitability, and share of repeat clients. To that end, AIA’s new Firm Benchmarking Tool was created to help firms compare their data with newly available AIA Firm Survey data. Competitive benchmarking helps a firm determine how they line up with their industry and, as a result, gauge their level of prosperity. AIA's new Firm Benchmarking Tool allows firms to evaluate themselves against data from 2,300 firms nationwideīenchmarking is a fundamental way for firms to evaluate their status and identify best practices in order to increase performance.
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