The construction industry is staring down the barrel of a decades-old talent shortage. There is no clear answer to the problem. The only thing certain is that firms will continue to compete fiercely to attract and recruit talent.
Construction sector executives named geopolitical instability and workforce management issues as the biggest challenges facing their industry, according to new research by leading global advisory, broking and solutions company Willis Towers Watson. The company surveyed 350 C-suite executives across the globe to look at the most significant megatrends and critical risks facing the construction sector.
Drive Sales and Increase Profits Construction Contractors and Materials Suppliers Must Understand Clients to Improve Sales
People have been trying to simplify and improve the sales process since cavemen started peddling flints and arrowheads. It’s amazing how little the art of selling has changed—even as the life of the customer has gotten more complex and difficult.
As construction companies look to expand, it’s imperative that forward-thinking executives consider adopting modern approaches that transform business functions and drive growth. The availability of state-of-the-art technology and easy access to data provides construction companies of all sizes with unique solutions that allow them to grow exponentially.
How to Build a Successful Company Culture Understand, Measure and Create a Culture that Leads to Increased Construction Industry Success
Culture is the values, beliefs and methods of operation that drive revenue, create employee engagement and attract and retain only a business owner’s favorite and most profitable kinds of customers. It is the essence of how business is done. It is the way a business operates to contribute to the bottom line.
Regain Lean Momentum and Maximize Results Focusing on Lean Can Help Construction Contractors Generate Strong ROIs
Streamlining projects and improving performance are worthy goals for any company, but particularly for the construction industry, where meeting deadlines and budgets are essential keys to success. Since its development in the 1990s, the Lean methodology has helped companies across a wide range of industries increase profitability and productivity.
For businesses in the construction industry, the success of any project depends on the skill of the team working on it. To improve business outcomes, employers must build strong, talented workforces by recruiting and retaining the right candidates, developing the potential of current employees and taking numerous other steps to achieve workforce excellence.
Anyone who studies history understands that to look back is to look forward, and it seems construction technology follows suit. As construction is rapidly moving into a digital-first world, companies are seeing major shifts in the ways technology helps them streamline practices, reinvent personnel and equipment management and even use virtual and augmented reality to ideate, construct and maintain their buildings. The speedy pace of innovation has heads spinning, often leaving companies feeling a sense of fear from a lack of control.
The construction industry is in the middle of a time of rapid growth. A hot market is the perfect environment for construction companies of all sizes to take a step back, get a sense of the big picture and strategize ways to grow by branching out into new types of projects.
As communities shift their focus to building “smarter” cities, a huge opportunity exists in the construction industry. In fact, 37 percent of municipal leaders prioritize “smart buildings” as an area for future investment, according to Smart City/Smart Utility, a 2017 Strategic Directions Report by Black & Veatch.
The construction industry is facing a serious challenge. Its workforce is aging faster than any other industry in the country, according to the U.S. Bureau of Labor Statistics (BLS), and construction companies nationwide are looking to fill multiple positions. Companies are desperate for new talent because employees who have been with them the longest are transitioning out, and there is not an adequate pipeline of new candidates to take their place.
Encourage Employee Engagement to Attract and Retain Millennial Employees Construction Contractors Must Engage Millennials—A Growing Part of the U.S. Workforce
You know who they are. Those unengaged employees who simply show up, do their jobs and then go home, not giving their work a second thought. However, the fully engaged employees also are obvious—those who are clearly passionate about what they do, why they do it and the impact their work is having on the world around them.