Talent: 9 Processes to Master

Talent development is crucial to contractors.

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Contractors who master talent will be the winners tomorrow as the shortage of critical talent will continue to impact all industries.  Research from McKinsey points towards a significant amount of construction work being automated in the future however this is mostly at the predictable physical work levels.  

Talent: 9 Processes to Master. Acquire, Build & Retain.

While the entire talent development process including recruitment, development and retention are all interrelated we break them up into 9 major processes to help focus on bottlenecks or opportunities.

  • What are the top 3 positions in your company that you need to focus on the most during the next 12-24 months?  Why?  
  • How many people in those positions do you need to recruit, develop and retain?
  • Looking at these 9 processes where is your biggest bottleneck?  It may be different for each position.  

Many times the insight from an unbiased 3rd party who gets to see what others are doing across the country can be valuable. 


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Succession Planning at All Levels
If a construction company is growing at 15% per year, then it will double in size about every five years. Therefore, in general, every position must be training at least two people that will be capable of succeeding them within five years.
Decision Quality: Data Points, Accuracy, Confidence, and the Danger Zone
Decision quality IS NOT linearly related to information quantity. In complex environments with elements of uncertainty, data quantity quickly reaches a point of diminishing returns but increases decision confidence, which puts you into the danger zone.
PICK SMART Improvements
Contractors will never have enough resources to solve all problems or take advantage of every opportunity they face. There are a couple tools that can be used to align the team around the best utilization of resources: