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Peer Group Most, if not all, of the top mechanical contracting firms in the nation today started out as small firms. Over the years they recognized that to become more profitable they needed some help. Some chose the way of the outside consultant. Many of them however banded together to form what is known as a “Peer Group”. The object of a “Peer Group” group is to share industry and individual business knowledge and through such mutual sharing glean lessons learned that improve each individual business within the group. Groups range from as small as 8-10 firms to as large as 35 firms. Each group contained firms of differing financial volumes from the hundred thousands to the multimillion dollar levels. As trust grew among the group’s principles they agreed to allow each other unfettered access to every aspect of their firm’s organization for group inspection and critique. Several times a year (3-4) one company within the group would be selected and members from each peer company would descend on that selected company. Over a 2-4 day period every aspect of that business would be analyzed in detail and critiqued and a comprehensive written document created that offered valuable recommendations by the group on how to significantly improve every aspect of the business. Thus the “Peer Audit” was born. Sometimes the recommendations were harsh and difficult for management to swallow but it was always impartial and once implemented found to be beneficial. Many of the top mechanical contracting firms in the country still belong to a peer group today. At Paramount we recognize that not every firm has access to a Peer Group. Through our Comprehensive Business Audit service we offer our clients an alternative that provides all the best advantages & benefits of a peer group coupled with that of an outside consultant. Paramount staff over a 2-4 day period will dissect every aspect of your business. Areas such as: corporate image, marketing strategy, personnel & staffing, human resource programs, internal communications, business delivery systems associated with accounting, warehousing & distribution, material handling, safety, project management, field management, labor productivity & performance, and much more. Contact us today to learn more about this invaluable service and how it can jumpstart your organization on its path to the next level!
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