Talent Shortage 2.0

Contractors will face a 25% gap in the critical talent layer that keeps their companies growing profitably and sustainably.

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Sustainable Growth 2018: 25% of Your Deep Expertise Will Be Gone by 2030.

Contractors will face a 25% gap in the critical talent layer that keeps their companies growing profitably and sustainablyMichael McLin provided a lot of great feedback helping clarify our initial draft, THANK YOU!

  • From 2015 to 2030 the overall population will increase about 12.5% while the population of 45-65 year olds will decline by about that same amount from peak 2015 levels. 
  • Construction demand will grow roughly with the population; likely faster due to deferred infrastructure maintenance.
  • Automation technologies will help significantly with the front-line workforce including drivers, operators, many craft, basic engineering functions, etc. 
  • The demand for critical expertise and management capabilities will increase do to the increasing complexity of projects, changing project delivery methods and tighter supply chain integration.
  • 90% of this talent is 45-65 years old because it typically takes 20+ years to build the deep experience and relationships required.
  • Compensation WILL NOT solve the problem of a massive shortage in supply just like you can’t offset a 25% decline in oil supply through higher gas prices.   

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Talent - Sustainably Integrating the 4 Priorities
When assessing the strategic importance of investing in your talent acquisition and development processes at the field leadership level it is important to understand the depth of the talent shortage over time.
Alignment and Ownership and Creating Value
As a construction company grows, it becomes increasingly important to align everyone on the team. Alignment comes from being transparent with your guiding principles or values and living them every day, starting with ownership.
Organizational Structures and Succession Preparation
Whether you are focused on growing profitably or preparing for an ownership transition, the strength of your organizational structure is a major factor.