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Lloyd Rosenberg has served as President and Chief Executive Officer of DMR Architects since his founding in 1991. But “I’ll be 81 next month,” he told NJBIZ. “So, I think at a certain age, it’s time to let the younger guys come in and do their job.”
Earlier this year, Hasbrouck Heights-based DMR announced Rosenberg would serve in the newly created role of chairman. Effective Jan. 3, Pradeep Kapoor, a 23-year company veteran who most recently served as chief operating officer, took over as president and CEO.
As chairman, Rosenberg said his goal is to see the company thrive and guide it through that transformation. He also equates this role to that of a mentor.
“I still feel like I can contribute and have the energy to participate, but I recognize that the transition will require a timeline,” he said.
Kapur was named a partner at the firm in 2017, along with Francis Reiner, Kurt Vierheilig and Charles Sarlo, as part of a long-term succession plan.
As Kapoor describes it, he joined DMR at the entry level.The four years of experience he already had didn’t really carry over to his job in the U.S. due to different design standards in India
“So, I would say, whatever I learned about architecture, business, management, I learned it here. I would say I learned it under Lloyd’s tutelage,” he said.
Kapoor’s tenure is not unique. Rosenberg said many DMR architects join the firm immediately after receiving their degrees.
“My goal is still – and I think what’s evident in our company is that we have a lot of people who started here in their first job out of college and are still here – and that’s a result of giving them the opportunity, really. , I’m not going to say anything they want to say, but pretty much anything they want to say,” Rosenberg explained.
“We have a lot of people here who have stayed and really helped grow the company into what it is today, which is very successful. I think that’s the kind of leadership that we encourage and the employees that enjoy that. What they do They have a stake in helping us,” Rosenberg said.
time to grow
The founder and chairman organically expanded DMR from two to 45 people. As the team has grown, so have its services. Starting in the education sector, “as more people joined us and we had different backgrounds and experiences, our portfolio became more diversified and we started to branch out into corporate banking.
“So the idea is to grow the company and diversify it so that we can attract different types of talent and appeal to different types of markets,” Kapoor said. This diversity also helps insulate the company during economic turmoil, he added.
Now that it has market representation, DMR is ready to expand its reach. The company launched its first regional expansion in 2022 at DMR NY. Since 2006, DMR has been operating in New York City, where the new outpost is located.
what will be big 2024?
“I think education market Will continue to grow because of the way the market works.this healthcare market …This will definitely continue. “
— Pradeep Kapoor
“There is also a chance Municipal level On the one hand, because money is provided by state or federal funds to improve the infrastructure of buildings, libraries, municipal buildings, police stations.Then we also found growth in the following areas private sector”.
However, “now, with interest rates a little higher … some of that funding has pulled back.” multi-family housing We have been very aggressive. But despite the current high interest rate levels, many of our clients are planning their projects hoping and foreseeing that interest rates will continue to fall, making the market more attractive to private investors. “
— Lloyd Rosenberg
“So now we are looking to expand our geographic footprint…The idea is to be more diverse geographically so that we can keep growing,” Kapoor said. “We’ve grown organically over the past 32 years of the company, which is great. That’s our plan – to continue the momentum we’ve built over the past two years.”
According to the AIA Resource Center, evaluating leadership development programs to assess and meet short- and long-term needs and strategic goals is critical to success. This should also include a succession framework.
“Businesses must continue to mentor the next generation of leaders and develop some of them into ownership roles, while future leaders must expand their skills and expand their comfort zones,” a December 2023 report said.
Kapoor became an early LEED certified professional at DMR in New Jersey, where he was eventually named director of sustainability.
“Lloyd has mentored all of us in different roles in the company over the years,” Kapoor explains. “My role is more involved in the management and operations of the company… and as a result, I was promoted to chief operating officer in 2021.”
“Part of my goal in the company is, as I get older, I want to see a way to keep the company going. … So there are probably multiple ways to do that,” Rosenberg said. “I feel like because of the people here and what I give and receive from these people, whether it’s what I do for them or what they do for the company, it’s going to be a leadership that can be handled from within. The right logical way.”
Kapoor, who began the transition over the past few years, said: “Lloyd has been providing, training and mentoring me in everything I need to learn to take on this role, which I have now assumed. ”
need a leader
Investing in future leaders can also help current companies. According to the American Institute of Architects report, “Young professionals, including those in the process of obtaining licenses, view opportunities to gain leadership skills as the most important factor in deciding where they want to work.
“Some of the most ambitious are also wondering whether there is a clear path to potential ownership,” the newspaper said.
As a company that encourages professional development, DMR can resonate with the next generation of employees when it comes to attracting talent.
The U.S. Bureau of Labor Statistics projects that the number of architect jobs will increase by 5% from 2022 to 2032. Higher than average job growth rate of 3%. According to the Bureau of Labor Statistics, many job openings will come from the need to replace workers who retire or move to different occupations.
However, the AIA report also warns of a looming leadership shortage. “The recession of the early 1990s and subsequent economic cycle caused many potential future leaders to leave the industry,” the newspaper said. “The Great Recession of 2008 hit them again, forcing many baby boomers to put their Succession planning as their companies were financially unable to acquire their shares and then they rebuilt their companies during the economic recovery.”
Looking ahead, Rosenberg is optimistic that DMR’s legacy of inspiring leaders within the company will continue.
“There are also several colleagues in the company who have already taken up positions. I hope that over time, some young people or other employees in the company will also join and grow into leadership roles in the company.”
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