A new model of ownership is being hailed as the answer to succession planning issues across practices in the UK and across the US. In this article, originally published in the Architectural Review, Archibiz Co-Founder Ray Brown discusses the growing employee ownership trend in architecture practices and how they might facilitate succession planning.
Whether you own a practice with three staff members or 15, succession planning is something that deserves to be top of mind for every architecture practice leader. Practice owners or leaders should think about succession planning early and carefully to avoid major mishaps.
In December 2021, Zaha Hadid Architects sent waves across the industry when the prolific architecture practice announced they would be transitioning into employee ownership. As the trend grows, owners of small and mid-sized architecture practices should consider the benefits and drawbacks that come with employee ownership and decide whether it is a right fit for their practice.