Every industry or business is only as good as their people. Hiring the right team and having the best possible team in place is crucial to the success of any organization. The construction industry and construction companies seem to be on the precipice of a people crisis. Demographic reports indicate that construction leadership is primarily made up of employees from the baby boomer generation who will be looking to retire soon. This leaves some businesses with the problem of figuring out who will assume these roles at that point. Due to several factors, including younger people not joining and staying with construction firms over the tenure of their career, some construction companies don’t have the talent necessary to staff leadership positions once current leaders retire.
How can companies combat this?
Establish Succession Plans
Smart businesses start thinking about succession before anyone starts thinking about retirement. The best way to not leave your business in a lurch during a crucial moment like leadership change is to identify potential leaders early on and start developing and training them for stepping into these roles.
Evaluate Culture and Compensation
If your company is hoping to drive long-term commitment from lower level employees to help them grow into loyal-leaders who believe in the business and are dedicated to its mission, it’s important your culture isn’t just serving your long-time employees, but also welcoming to new employees and makes them want to stay on board. Part of culture, in addition to attitudes and amenities, is compensation structure. Compare your position salaries with industry averages and ensure you’re paying people what they’re worth and offering fair and equal benefits.
Partner with specialists
Sometimes, companies don’t have the resources or qualified employees to create and implement realistic and effective succession plans. In those cases, it makes sense to hire external leadership candidates and hiring a staffing agency with experience in executive search can be a helpful tool and help protect the integrity and stability of your business.
No matter what level positions you need to hire for, our expert team can help. With a network of qualified candidates and search expertise, our team prides itself on being able to help you fill your leadership roles with strong backgrounds who can help steer your company towards success for years to come. Contact TalentSphere Staffing Solutions today.
