Longnecker & Associates
Rank: 72 Revenue Growth: 27%
Established in 2003, Longnecker & Associates is a nationally recognized strategic compensation and governance consulting firm based in Houston. With more than 20 years at the company, the core leadership team has worked with public, private and not-for-profit companies on a variety of complex compensation and governance situations requiring strategic solutions. "Our firm's consultants draw on a wide range of experiences ranging from high-growth, mergers and acquisitions, bankruptcy, reorganizations, and IRS audits to working with the world's top companies on developing competitive compensation plans," says Chris Crawford, President of Longnecker & Associates. The firm is considered a thought leader on compensation and governance issues, with its consultants being sought after to provide industry insight on issues affecting these fields. "Our relational approach to client engagement, our decades of experience, and our desire to understand your business position us at Longnecker & Associates to provide honest, fresh, and effective advice to our clients' core compensation issues," Crawford says. Consulting caught up with Crawford to discuss Longnecker & Associates' financial performance, revenue growth and overall outlook for the years ahead.
Consulting: What were the main factors that contributed to your firm's exceptional growth?
Crawford: There are multiple factors leading to the firm's growth, but three of the most notable are one, winning a landmark case on reasonable compensation, that allowed the firm to diversify into a separate service line three years ago. Two, very happy clients aggressively selling us to their peers; three, using the downturn in the energy market as an opportunity to launch an restructuring advisory service line three years ago.
Consulting: How is this year shaping up for your firm?
Crawford: We think 2017 will be another record year for Longnecker & Associates where revenues will increase 31 percent and profit margin will increase from 50 percent to 60 percent.
Consulting: How would you describe your firm's outlook for 2018? Where do you see the most opportunities?
Crawford: Longnecker & Associates projects to grow at a similar rate in the years 2018 and 2019.
Consulting: What would you say are your firm's biggest challenges in 2018?
Crawford: There are three big challenges—finding and developing the right people; quickly taking advantage of changing regulations; and, anticipating and responding to potential market downturns many analysts are projecting, to further increase revenues and profit margin.
Consulting: What does being named one of Consulting's Fastest Growing Firms mean to your firm, your employees and your clients?
Crawford: Longnecker & Associates is tremendously excited to be named one of Consulting magazine's Fastest Growing Firms! It is a defining moment for any consulting firm, and we strive to continue to provide the best executive compensation consulting advice to our clients, so they will continue to refer us.
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