Best PracticesMore Like This

For many companies in the construction industry, strategy updates happen like clockwork on a set schedule. In fact, 64 percent of architecture, engineering and construction (AEC) firms that have more than 250 people engage in some form of formalized strategic planning an average of every 3.5 years, according to data compiled from ParCons’ State of Strategy in the AEC Industry study. While such a disciplined approach to strategy may sound admirable, it may actually create an adverse effect on a business.

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HRMore Like This

All too often, construction companies lose out on good candidates for preventable reasons. For example, one company lost three consecutive candidates after going through the entire interviewing and vetting process. The company made offers in each case, but discovered the candidates had already accepted other jobs.

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Business DevelopmentMore Like This

For business development professionals, going the extra mile in sales without a clear definition of where they are headed only leads to working hard, but not meeting goals. To reach sales goals, business development professionals must know where they are going, and then follow a path that will take them where they want to go. That’s where strategic planning comes in. In the same way a roadmap helps plot out a journey, a strategic plan charts the course of how an organization will reach its sales goals.

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