Attracting and Growing Talent: What Contractors Need to Know

Article written by Stacey Holsinger and Mark Drury for Constructor Magazine
Across many industries in the U.S., there is a decline in educated, skilled and experienced personnel as the largest generation in history moves out of the workforce and into retirement. As a result, it’s become a war for talent, and construction companies are on the front line.
This comes at a critically important time for the construction industry as the current volume of work already exceeds the human capital resource capacity. Furthermore, between natural disasters, a growing economy and a crumbling infrastructure, the demand for increasing the industry’s production capacity is at an all-time high.
While construction historically has lagged other sectors in terms of IT investment, such spending is now accelerating as more and more organizations wake up to the need to move beyond the industry’s traditional practices. At the same time, the speed of technology development has increased the availability of robust, customizable cloud solutions, which is lowering the barrier to adoption.
While many project managers today are still utilizing manual processes or working with significantly outdated software, it is becoming clear that this is less of a matter of choice. According to a 2015 Construction Technology Report1 by JBKnowledge in conjunction with the Construction Financial Management Association and others, 77.4 percent of respondents considered mobile computing capabilities on the project jobsite to be either “important” or “very important.”
While having the best people in place, working together well and using the latest tools is critical, the construction project can still suffer if the data being tracked and reviewed is days or even weeks old. That outdated project information can make it hard to accurately gauge current job costs or work in progress.
While the lifeblood of the construction company is the construction project, the lifeblood of the project is the people working on it. Hire bad people to manage and build the project? The results will be poor. Hire smart, talented folks with expertise and the results will be good. Hire forward-thinking, open-minded folks ready to try new things and take calculated risks? The results are likely to be even better.