The following article originally appeared in the June newsletter to clients of Kiley Advisors, LLC. Reprinted with permission.
These are the times that will test.
These are times of great opportunity; they are also times of great challenge. It is crystal clear, as we approach the mid-point of 2014, that the shortage of talent, predicted for many months, is finally here and affecting most constructions companies, both General and Specialty Contractors, across all classifications of employees: craft workers to executives. The War for Talent has escalated, and reportedly even reached the “armed” level. Pistol-packing security guards have been placed on residential projects to stop labor brokers from walking on jobs, adding an attractive premium to the per-foot wage of piece rate workers, and taking the entire crew with them that moment!
This shortage, in the short haul, can only worsen, as the large industrial projects get underway. It is going to cause contractors, who were starving for work 24 months ago, to face the difficult decision to turn work down, or potentially violate or ignore some key values of their strong cultures, as it relates to people. All successful construction companies have strong cultures, 90% of it built around the people they want on their team and the way people in their company will be treated. Read more » about Are You Committed to Your Culture?