Page 7 - Q2_2023 Rosendin Corp Newsletter

Please explain what strategic markets are and why they BASE CAMP 2025
Q are categorized as strategic?
What we mean when we reference a “strategic market” is
A simply a market that we currently serve, typically perform Best Managers in the industry with an
very well in, and have decided to grow and expand within. average score of 85% or better as measured
by employee engagement survey results.
Beyond that, a big part of our strategic plan includes seeking
out new and emerging markets where we see lucrative
benefits for Rosendin. This can mean entering a market or Solidifying our status as a Top 3 electrical
industry that we don’t currently serve or expanding our contractor in the U.S. while expanding into
existing operations within a market where we see growth at least 2 new markets.
potential. To further clarify, a “market” doesn’t always
mean a specific type of construction industry; it can mean
a particular focus on a geographic region, for example, or For every new process created we will
focusing on a certain client. This can also include expanding remove two processes.
into connected services that happen before or sustain after
building construction is complete. Increase equity by at least 40% while
supporting our future with contributions
Will you expand on our current strategic markets and to retirement benefits at levels that equal
Q why we chose them? or exceed current contributions.

Rosendin’s development and adaptation of our 10-year
A strategic plan is a relatively new endeavor, so we wanted You’ve noted that many of our clients have a national
to start positively with some wins. As we evaluated our Q presence. Is it ever challenging to build trust and partnerships
current business, we confirmed that we tend to perform with these clients when our teams are region-based?
the strongest and continue to see high-growth potential in
our renewables, data center, and MPS markets. Additionally, Although our clients build across the US, that doesn’t
we have strong footholds in the areas where we perform A always mean their implementation practices and desires are
high-tech and special systems work, and we are seeing consistent. What we want to do first is to actively listen to our
tremendous growth opportunities in those sectors nationally. clients and work to understand what their wants and needs
are, wherever they are located. For some clients, it’s made
What does this mean for our other markets, such as sense to implement what we’re calling “program teams,”
Q healthcare, commercial, and transportation? which consist of Rosendin personnel who work with the same
client but in different regions. In turn, these teams meet
If a market isn’t currently identified as a strategic market regularly to share experiences and lessons learned from their
A within our overall strategic plan, that doesn’t mean we are projects with that same client, helping us to avoid repeating
not doing business there. At Rosendin, we pride ourselves issues from one project to another. This collaboration allows
on having a very diverse portfolio, and every single project is our teams to implement better practices as we execute for
impactful in helping us achieve the goals of our strategic plan. the same client repeatedly. Another positive note for our
We will continue to do great work in all markets, serving our program teams is that the information flow can sometimes
clients’ needs and building those relationships, enabling us to happen much faster. The client can connect with the program
become our clients’ preferred and trusted partners in ALL the team lead, and we can then share that consistent message
markets we serve. internally across all project teams instead of the client having
to connect with several different projects.

So what are the next steps to meet our 2025 Base Camp
MARKETS Q Goals in Rosendin’s Strategic Plan?
We constantly work to confirm our focus is in the right areas.
We will be our A When it makes sense to adjust, we do, to swiftly capitalize on
clients’ preferred new markets and opportunities and to intelligently expand
and trusted trade and diversify our business. Our strategic plan is and will
partner, swiftly always be fluid. As the Markets Pillar leads, we work with
capitalizing teams across the company to keep our Executive Committee
on new market informed of market changes as close to real-time as possible.
opportunities to Additionally, we continue to engage with our clients, big and
intelligently expand small, to understand and develop ways to better serve them
and diversify our and to become their most preferred and trusted partner.
business. When our clients have a need, someone has to be their first
call; and we want it to be Rosendin! 

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