FMI Built-In Podcast

Succession planning isn't just about ownership or leadership — it's about aligning both.In this episode, Jake Appelman and Matt Godwin of FMI sit down with host Scott Winstead to explore:The evolving landscape of exit strategies.What great looks like — and where firms often get stuck.How to build leadership readiness in advance.Strategies for mitigating financial risk and safeguarding the business.Whether you're years away from transition or actively navigating succession, this conversation offers insights you don't want to miss.

"Leaders were really the biggest constraint we had to reach our potential," Scott Peterson, CEO of Interstates tells FMI's Scott Winstead in this episode of the FMI Built-In Podcast.Through its emphasis on people development and adaptability, the company has grown from $12 million in revenue in 1995 to $500 million in 2024. By focusing on building strong leaders and shifting to a more collaborative team environment, Interstates continues to evolve to meet client and industry needs. Don't miss his incredible insights on leadership and structuring a company so it can scale and still provide excellent client service.

After retiring from the Air Force, Chris Stricklin found his calling as founding president of Dunn University, a division of the Dunn Family of Businesses.Dunn University exists to recruit, train, develop and retain the best skilled workforce possible, while improving [their] communities and industries in pursuit of achieving both [their] corporate and individual true potential.As a result of his workforce efforts, Chris was appointed by Alabama Governor Kay Ivey to the Alabama Workforce Board and testified before Congress in 2024 on initiatives to pioneer revolutionary methods of training Alabamians in new careers with livable wages and career progression pathways.In this episode of the FMI Built-In Podcast, Chris sits down with host Scott Winstead to talk about these initiatives as well as:Building an innovative and agile businessDeveloping and retaining talentLessons learned throughout his careerDon't miss this insightful and inspiring episode.

In this episode of the FMI Built-In Podcast, Scott Winstead sits down with Ed Kutschke, executive vice president at Aldridge Electric, to explore how the company has stayed ahead of the competition in their more than 70 years in the infrastructure space. Specializing in electrical infrastructure and large-scale transportation and power projects, Aldridge built a reputation for field-first innovation and operational excellence.Listen now to learn how Aldridge continues to lead in a competitive market.

The built environment is entering a transformative era.Connecting the dots between evolving trends, market forecasts and what they mean for your business is crucial in today's landscape.In this episode of FMI's Built-In Podcast, Partner and leader of FMI's Research and Analytics Practice Jay Bowman joins host Scott Winstead to share his perspective on the Overview.They talk about sector-specific insights, key themes in the industry and how leaders are prioritizing strategic focus, technological adoption and resilience.

We're excited to kick off season three of the FMI Built-In Podcast with FMI Capital Advisors Managing Director Alex Miller. He joins FMI Consulting President Scott Winstead to talk about themes driving mergers and acquisitions (M&A) activity in the engineering and construction market in 2025. We'll look at what areas might be hot, considerations for companies thinking about M&A and other trends to help inform your thinking.

We had such an incredible year, that we decided to share some of the key insights from our 2024 guests. Leadership isn't just about solving today's problems. It's about building an organization that can thrive long into the future and through any type of transition. Discover some of the best advice and practices from top leaders in the built environment. Enjoy this year-end wrap-up as you start planning for 2025.

In this episode of the FMI Built-In podcast, host Scott Winstead is joined by Les Hiscoe, CEO of Shawmut Design and Construction. Shawmut is 100% ESOP-owned and has made Fortune's best workplace list 16 times during Les' tenure as CEO.Les talks about Shawmut's shift to a more sustainable business model, touching on navigating change, strategic leadership, company culture and talent retention.

Tom Gilbane, Jr., joins host Scott Winstead to discuss the origin and evolution of Construction Inclusion Week.Construction Inclusion Week unites the built environment to create a more welcoming and inclusive industry. Tom talks about how companies can get involved to solve problems, attract and retain talent, and innovate with more people.Don't miss this special episode of the FMI Built-In podcast.

In this episode of the FMI Built-In podcast, Chairman and CEO of Hensel Phelps Construction, Mike Choutka, joins host Scott Winstead to talk about creating a strategic business model to achieve long-term success.Mike reflects on the strong foundation they've built to fuel Hensel Phelps' 87 years of success and the key ingredients to reach the milestone of 100 years in business, including:Developing the next generation of future leadersImplementing broad-based employee ownershipFostering an enterprise-first mindsetEmbracing the future of technology

In this episode of the FMI Built-In podcast, host Scott Winstead, President of FMI Consulting, sits down with Les Snyder, Executive Vice President of Development and Infrastructure Construction for Brightline West.With more than 40 years of experience across all sectors of the construction industry, Les' background uniquely positions him as an exceptional leader. During this conversation, he dives into how to create consistent, sustainable and profitable growth for the business, touching on:Strategy and VisionFuture Leaning Systems and ProcessesHuman Capital and LeadershipMarkets and SectorsCompany CultureDon't miss these valuable insights—tune in now!

With many expected to double the amount of work being done via prefabrication methods, you can't afford to just wing it. It's critical to have a long-term strategy and operationally efficient processes to get the most out of these efforts.In this episode of the FMI Built-In podcast, we sit down with Tyler Paré, head of our performance consulting practice. Tyler unpacks Part 2 of FMI's Labor Productivity Study and shares insights on prefabrication and the opportunities and challenges that come with it.

In this episode of the FMI Built-In podcast, host Scott Winstead, President of FMI Consulting, sits down with Bob Murray, former President of BOND Brothers, Inc.Bob delves into the challenges and triumphs of leading a growing construction firm, touching on topics like talent development, maintaining core values and navigating strategic shifts. His commentary on leadership and building a team are particularly relevant in today's environment. Listen to the full conversation now.

In this episode of the FMI Built-In podcast, host Scott Winstead, President of FMI Consulting, sits down with Bob Murray, former President of BOND Brothers, Inc. Bob delves into the challenges and triumphs of leading a growing construction firm, touching on topics like talent development, maintaining core values, and navigating strategic shifts.Tune in for the full episode on June 11. Don't forget to like or subscribe on your preferred streaming platform to be informed of new releases!

In this episode of the FMI Built-In podcast, Bob Uhler joins FMI Consulting President Scott Winstead for an insightful conversation on leadership in the C-suite. We talk about the evolving role of a CEO, the difference between a visionary CEO and a maintenance CEO, and how to be agile in evolving markets and sectors.Bob is an accomplished leadership consultant and the former CEO and chairman of MWH Global, one of the largest water and wastewater treatment contractors in the U.S.Tune in to glean insights on how to be an agile leader and adapt to the evolving built environment.

In this episode of the FMI Built-In podcast, Bob Uhler joins FMI Consulting President Scott Winstead for an insightful conversation on leadership.Bob is regarded as a visionary strategist and accomplished leader. His experience includes:Starting his own strategy and marketing advisory firm, The Uhler Group, LLC.Leading the transformation of the MWH Global, Inc. business platform from 1 country to 36 and from $100 million to $1.6 billion in revenue during his tenure as CEO and chairman.Two decades of director experience across multiple boards.An impressive collection of published articles, registrations, certifications and awards.U.S. Military service with the decorated distinction of two Bronze Medals and four Combat Air Medals for valor in Vietnam with the 101st Airborne Division.Tune in next week to glean insights on how to be an agile leader and adapt to the evolving built environment.

Private equity investment across the engineering and construction industry has vastly increased in recent years. In this episode, Consulting President Scott Winstead talks to Paul Giovannoni and Jayson Post about how private equity is reshaping the built environment and how FMI is working with investors.Giovannoni's consulting practice mainly focuses on buy-side market studies and due diligence, while Post's work in investment banking helps private equity investors buy and sell assets. Learn more about the trends shaping the landscape for private equity and how FMI can help private equity firms make informed decisions and understand market nuances.

In this episode, FMI Consulting President Scott Winstead speaks with FMI Capital Advisors Vice President Jayson Post and FMI Consulting Partner Paul Giovannoni. They talk about the trends underpinning activity as well as considerations around overall strategy for potential sellers.Tune in next week on FMI's website or your favorite streaming platform. Like or subscribe to stay up to date on the latest releases.

In this special episode for Women in Construction Week 2024, FMI Consulting President Scott Winstead and Mary Teichert discuss how to identify and demolish barriers to attract more women to the construction industry. They also talk about company values and ways leaders can support women to create a sense of belonging in the workplace.Mary boasts an impressive resume including graduating from Harvard, holding positions on various industry boards, facilitating workshops to help women and minorities become licensed contractors, and serving as the President of Teichert Inc., which holds one of the oldest construction licenses in California and now comprises a diverse mix of businesses including Teichert Construction and Teichert Materials.

In this special episode for Women in Construction Week 2024, FMI Consulting President Scott Winstead and Mary Teichert discuss how to identify and demolish barriers to attract more women to the construction industry. They also talk about company values and ways leaders can support women to create a sense of belonging in the workplace.Mary boasts an impressive resume including graduating from Harvard, holding positions on various industry boards, facilitating workshops to help women and minorities become licensed contractors, and serving as the President of Teichert Inc., which holds one of the oldest construction licenses in California and now comprises a diverse mix of businesses including Teichert Construction and Teichert Materials.Tune in next week on FMI's website or your favorite streaming platform. Like or subscribe to stay up to date on the latest releases.

Understanding the regions and sectors where you operate is imperative in today's built environment. FMI Partner Jay Bowman joins FMI Consulting President Scott Winstead to talk about our recently released 2024 North American Engineering and Construction Industry Overview. Their conversation includes can't-miss insights into what's expected to drive the market over the next 12-24 months.

Understanding the regions and sectors where you operate is imperative in today's built environment. FMI Partner Jay Bowman joins FMI Consulting President Scott Winstead to talk about our recently released 2024 North American Engineering and Construction Industry Overview. Their conversation includes can't-miss insights into what's expected to drive the market over the next 12-24 months.Tune into FMI's website or your favorite streaming platform on February 6 to listen.

Welcome back to our second season of the FMI Built-In Podcast. We're kicking off the year with a deep dive into consolidations and merger strategy with FMI Capital Advisors Managing Director Alex Miller. He joins FMI Consulting President Scott Winstead to talk about themes driving mergers and acquisitions (M&A) activity in the engineering and construction market in 2024. We'll look at what areas might be hot, considerations for companies thinking about M&A and other trends to help inform your thinking.

In our final episode of the season, we talk with Mark Hourigan about creating a long-term vision for his firm and how to articulate that to clients and others in the market. Hourigan is an award-winning, fully integrated construction firm that has been recognized as a great place to work by Fortune magazine and others. His insights on how to thoughtfully manage the firm to create an enduring business are not to be missed.

FMI Partner Priya Kapila joins Consulting President Scott Winstead on this episode of our Built-In podcast to talk about trends in pay and benefits. We all know that compensation is a critical part of retention and in the episode we'll dive into best practices and how to maximize the return on your compensation investment.

FMI Partner Priya Kapila joins Consulting President Scott Winstead on the next episode of our Built-In podcast to talk about trends in pay and benefits. Don't miss her industry-specific insights when this episode comes out November 14.

Labor productivity is the central driver of profitability for labor-intensive, self-performing contractors. FMI research suggests that contractors lost approximately $30 billion to $40 billion to labor inefficiencies in 2022. These labor productivity deficits translate to significant project and enterprise margin erosion industrywide.In this episode of Built-In, FMI Consulting President Scott Winstead interviews Partner Tyler Paré and Consultant Michael Keller about the 2023 Labor Productivity Study and ways contractors can harness labor to improve profit margins.

FMI's ground-breaking research on why large contractors fail continues to be one of the most popular articles we've published. In this episode of Built-In, FMI Consulting President Scott Winstead interviews Hugh Rice, former chairman at FMI, about the initial findings and how they continue to be relevant today.

When you think about developing a culture in the construction industry, many mention DPR Construction as an industry leader and a company with a strong culture. Through the ups and downs of the pandemic and exceptional growth, DPR continues to focus on their people and what drives their overall success.In this bonus episode of Built-In, a member of DPR's Leadership Team, Mike Humphrey, talks with Senior Consultant Tracey Smith about how the company invests in people, how they develop meaningful work through focusing on their purpose, and how their core values of enjoyment, ever forward, integrity and uniqueness inform all their decisions.

Knowing when and how to exit your business can be one of the biggest decisions you'll make as an owner. In part 2 of our exit strategies conversation, FMI Consulting President Scott Winstead talks with three FMI Capital Advisors experts on valuation and what drives it, how to get started with an exit strategy and what to expect in the first 100 days of the process.We'll chat with Managing Directors Alex Miller, Matt Godwin and Nathan Perkins about the pitfalls and opportunities of mergers and acquisitions, internal ownership transfers and creating an employee stock ownership plan (ESOP).

Knowing when and how to exit your business can be one of the biggest decisions you'll make as an owner. Listen as FMI Consulting President Scott Winstead talks with three FMI Capital Advisors experts on the various options for exiting a business in the built environment.We'll chat with Managing Directors Alex Miller, Matt Godwin and Nathan Perkins about the pros and cons of selling to a third party, finding an internal buyer or establishing an employee stock ownership plan (ESOP) in this first episode. In the second part of the conversation, we'll talk about the pitfalls, opportunities and potential valuations for each option.

The 2023 FMI Talent Study didn't so much as reveal a talent issue, but highlighted how big the talent cliff is these days. In this episode of Built-In, we talk with Denise Gettman, a partner in FMI's leadership and organizational development practice, about the urgency many companies are feeling to fill the gaps in their organizations. More people are retiring and younger workers are leaving the industry at higher rates due to competition from other industries, making it critical for companies across the built environment to manage their teams with succession planning, training and development, and other retention strategies. We also talk about ways to address talent issues to attract and retain the workers needed to be successful.

APi Group CEO Russ Becker sits at the helm of a publicly traded $6.5 billion company built through more than 90 acquisitions. In this episode of Built-In, Becker talks with FMI Consulting President Scott Winstead about how he focuses on the culture, values and fit of potential acquisitions from the beginning of the diligence process to ensure success. They also talk about the process of taking the company public through a merger with a SPAC (special purpose acquisition company) and the $3.1 billion acquisition of Chubb Fire and Security business in 2022. APi spends more than $6 million a year in leadership development, giving everyone on the team a common foundation and language. Leadership development is a fundamental part of APi and a competitive differentiator when attracting and retaining talent.

In this bonus episode of Built-In, Senior Consultant Tracey Smith talks with Randy Leopold, Associate Vice Chancellor, Capital Program Management at the University of California San Diego, about leadership and building collaborative partnerships. He discusses the complexity of managing billions of dollars of projects across diverse stakeholders and how creating a shared vision for the building helps everyone who steps onto the job site work toward a common goal. Creating a sense of community and demonstrating the importance of the new building, such as a center to cure blindness, generates a sense of pride and helps the team solve problems in ways that benefit everyone.

Our third episode of Built-In delves into what it takes to create a successful branch expansion strategy and how to build teams that thrive. Lithko Contracting CEO Rob Strobel talks with us about his perspective on leadership, creating processes that set teams up to excel and how to think about approaching geographic expansion.

The key to any successful transition of management is to plan, something that can take years. You need to engage the right people, who will be the next generation of leadership, early in the process and look for those who think strategically.In the second episode of Built-In, FMI Consulting President Scott Winstead talks with Frank L. Blum Construction's current CEO and majority shareholder, Mike Lancaster, and former owner and CEO Drew Hancock about their experiences with ownership transfer and management succession planning.

In our next episode, we talk to Drew Hancock and Mike Lancaster of Frank L. Blum Construction. They discuss their experience with ownership transfer and management succession, offering tips on how to put people first and create a smooth transition. Tune into FMI's website or your favorite streaming platform on March 21 to listen to the conversation.

We kick off our Built-In Podcast with FMI Partner Jay Bowman and Consulting President Scott Winstead discussing our 2023 forecast and economic assessment of the U.S. and Canadian engineering and construction markets. We'll chat about several sectors of the built environment as well as the opportunities and challenges for the year.Discover how you can integrate this data into your business strategy and plans for the coming year.

In this introduction, President of FMI Consulting Scott Winstead shares what to expect from FMI's new podcast, Built-In. Subscribe to stay abreast of insights and wisdom from industry leaders and subject-matter experts in the built environment.