FMI: Industry should target women, minorities to expand labor pool

By |  November 26, 2013

FMI, a management consulting and investment-banking firm to the engineering and construction industry, solicited responses from a mix of general contractors and construction managers about the industry’s labor pool. According to FMI, more than half of its respondents report a shortage in skilled labor.

To address this challenge, FMI offers recommendations in its 2013 U.S. Construction Industry Talent Development Report. First, FMI suggests construction careers must be made more appealing to women and minorities. Second, there must be an appeal to today’s youth through career counselors, career fairs and utilization of social media channels.

In addition, as Baby Boomers retire, more than 75 percent of those FMI surveyed say they were preparing for a leadership transition in three ways: promoting internally; training to improve performance; and providing internship and co/op programs.

Also, more than half of those surveyed say they are identifying gaps in core competencies; increasing recruiting efforts at schools and universities; and employing best practices to retain key talent.

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