CFMA: Talent Pipelining

Contractors will face continually worsening talent shortages through 2030.

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Those that want to continue sustainable growth must manage every aspect of their talent management processes with the same rigor they would manage a fast-track project with $100K per day in liquidated damages.

The Construction Talent War - Talent Pipelining.

On November 15th, Katie McConnell and David Brown kicked-off the first of a three-part series focused on talent.   

  1. Diagnosing the Biggest Talent Bottlenecks for CFMA Sacramento Members
  1. Fixing Your Biggest Talent Bottlenecks
  1. Building Benefit Packages and Perks Beyond Compensation for a Competitive Advantage 

A few interesting takeaways from the first session were:

  • When asked what their hiring challenges were, nearly 100% of the audience cited external market factors, which included the shortage of talent. To begin solving the problem, we must first start looking inwardly at the areas they can control and, more specifically, those that matter
  • Of the 83% of people who stated their challenge was not enough qualified talent, 50% of those also rated their Talent Pipelining process as effective (an ‘A’ or ‘B’). This is a little bit like stating your sales process is effective but not achieving the sales you want.  

The next step in solving a problem is to recognize that we may be looking at our internal processes and capabilities with more rose-colored glasses than we think. We actually may not even know what we don’t know. 




Incentive Compensation for Contractors - Mitigating the Talent Shortage
There’s not much better than a great incentive program to recruit, retain, and develop people. The talent shortage is very real and is hitting the construction industry harder than ever.
Incentive Compensation for Contractors - Union vs Open
The wins of a great incentive program tend to be the same for both union and open shop employers. The wins not only include retention of the employees that you already have, but recruitment of new employees.
Competition - What Do You Really Know?
Contractors typically pay too much or too little attention to their competition. The best contractors strike the right balance spending most of their time focused on customers while being deliberate in knowing their competition.