Nearly 90 percent of construction firms participating in FMI’s latest talent development report are facing talent shortages, yet 43 percent say their firms don’t prepare a formal annual training and development budget and 55 percent don’t have any formal processes in place for identifying and developing high-potential employees.
Three-quarters of participating firms have made changes to their training programs in the last two years, with mixed results. The most popular strategies for retaining high-potential individuals in construction include challenging job assignments, competitive salaries, training opportunities and ongoing performance feedback. But in many cases, HR and talent development are still being tackled in a very tactical, piecemeal manner. Visit fminet.com to view the full study.
