Posted on March 15, 2017 by FMI CorporationToday’s global engineering and construction (E&C) industry is changing rapidly. Barriers to global trade have been reduced significantly, enabling capital, labor, goods and technology to flow freely across borders. This has increased business opportunities exponentially across the globe. However, globalization has also vastly increased the complexity of the E&C business environment. Changing customer demands and new funding mechanisms are driving industry players to diversify and seek mergers and acquisitions in new markets around the world to gain access to new expertise and project opportunities. This new global context presents unique leadership development challenges for companies in the construction and engineering fields. Grooming leaders who can look beyond traditional, domestic borders and adopt a global mindset takes time and requires an entirely new learning approach.
This post was posted in Center for Strategic Leadership, Talent Development and was tagged with Global leadership, globalization, Operational excellence, construction blog, construction global, global construction
Posted on March 1, 2017 by FMI CorporationMuch has been written about millennials and how they differ from previous generations in their approach to work – and careers in general. Indeed, we see millennials often unfairly saddled with the dubious reputation for being entitled, disloyal, self-centered or optimistic go-getters, but it turns out that they are actually not that different from their older work colleagues. In fact, in our recent study “Millennials in Construction: Learning to Engage a New Workforce,” we found that millennials are indeed very dedicated and loyal to their companies and want to do more than just punch a clock and take home a paycheck. They are looking to add value, make an impact and find meaning in what they are doing. Company leaders can leverage these realities by ensuring that their young talent has a clear sense of purpose and an understanding of their roles within the larger plan. According to our findings, when the company’s vision is inspiring and clearly communicated, millennials are 25% more likely to stay longer with the company compared to those who don’t understand the company’s vision and direction.
This post was posted in Talent Development and was tagged with construction industry blog, Attracting people to construction, employee retention, FMI Management Consulting, Human Resources, oil and gas market strategy, engineering blog, construction blog, millennials in construction
Posted on February 24, 2017 by FMI CorporationThe fact that most construction firms are struggling to find qualified people is old news. To be sure, much of the blame for the labor shortage problem can be laid at the feet of the Great Recession, when job demands changed dramatically and many downsized workers left the industry for good. The trouble is, these workers have yet to be replaced with workers of equal or better skills. So what can be done? The industry has responded to the challenge by treating it as an “asset” problem. Applying the same principles they would to a construction project, employers have brought a hammer-and-nail solution approach to something that requires more thought and consideration. Companies are putting big dollars into training programs focused on sharpening employee skills and competencies. But just how effective is all of that training?
This post was posted in Center for Strategic Leadership, Talent Development and was tagged with Attracting people to construction, employee retention, employee development, Training investment, FMI Management Consulting, Human Resources, oil and gas market strategy, construction blog, millennials in construction
Posted on October 10, 2016 by FMI CorporationIn today’s team-based, fast-paced work environments, the ability to communicate effectively over several channels and provide ongoing feedback is key to success. Feedback makes you aware of how you are doing and what you can do to develop and improve. It builds trust in your relationships. The topic of feedback is hot in today’s marketplace. Employees are eager to know what is expected of them, how they are doing, and what they need to do to receive greater responsibilities and rewards. Employers are also eager to implement feedback tools and systems so that they can determine how they are doing in the eyes of their customers and employees. Best-of-class organizations also use feedback to help identify areas of success and developmental opportunities for their upcoming leaders. Here are five reasons why:
This post was posted in Consulting, Center for Strategic Leadership, Talent Development and was tagged with leadership, construction industry blog, team building, oil and gas market strategy, engineering blog, construction blog, agile leadership, feedback in workplace, feedback construction, feedback team development', 360-degree feedback, feedback leadership, team development, construction and engineering
Posted on September 29, 2016 by FMI CorporationThe race to cultivate and transition leaders into executive positions is on. Is your company ready for the challenge? With 10,000 baby boomers retiring every day, the construction industry is in a race to fill vacant leadership seats with candidates who are as competent as they are agile. Defined as the power to move quickly and nimbly while thinking on your feet and acting decisively, agility helps leaders tackle the challenges of today’s business environment while also thinking about the bigger picture and planning for the future. Based on extensive observation, research and practice around leadership, FMI has determined that Peak Leaders—those who exemplify what it means to be a leader—exhibit eight key behaviors. This framework can be used to identify, support and develop agility in your own leaders:
This post was posted in Center for Strategic Leadership, Talent Development and was tagged with leadership, strategic leadership, Leader selection, construction leadership development, leadership development, engineering blog, construction blog, construction management, construction leadership, leadership style, construction field leader, agile leadership, agile construction, agility, agile, talent development construction
Posted on July 14, 2016 by FMI CorporationBy Bob Uhler, The Uhler Group As the leader of an enterprise, your principal job is to assemble a team of synergetic executives who blend in a way that most effectively meets your organization’s short- and long-term goals. Not everyone should play the same role, for example, since assignments demand different leadership skills and responsibilities. Asked to reveal his organizational management philosophy, ex-New York Yankee manager Casey Stengel once said, “Keep the five guys who hate you away from the five guys who have not made up their minds.” This reply—while probably tongue-in-cheek—would probably still hold true today, particularly within larger organizations where the executive management players fall into three different categories. They are:
This post was posted in Consulting, Center for Strategic Leadership, Talent Development and was tagged with NRCI 2014 Q2, construction management, construction leader, construction leadership, leadership style, management style
Posted on March 21, 2016 by FMI CorporationLeaders in the construction industry have long dealt with volatility, uncertainty, complexity and ambiguity ("VUCA") on a daily basis. In fact, VUCA is part of the industry's DNA. Today, though, the pace of change and the speed of information flow are transforming the global business landscape more than ever, escalating risk and vulnerability at all organizational levels. In the construction industry particularly, the failure rates associated with untested, uninformed decision-making have pushed executives to become vastly more creative, flexible and nimble when it comes to identifying and managing risk and solving problems. Unfortunately, many of today's construction leaders are ill-equipped to deal with their companies' many moving parts and are now seeking innovative ways to develop their leadership capabilities.
This post was posted in Consulting, Center for Strategic Leadership, Talent Development and was tagged with construction industry blog, CEO in construction, construction executive, construction leadership development, construction executive institute, leadership development
Posted on February 29, 2016 by FMI CorporationWhether they are large public businesses or small, family-owned startups, successful construction companies have strong, positive cultures. These cultural roots typically start with a founder who has a vision of the type of company he or she wants to build. The CEO should be able to get his or her team “pumped up” – an effort that requires a lot of energy, but that should be on every leader’s actionable agenda nonetheless. In their leadership capacities, CEOs must also influence organizational cultures to grow in a positive direction. Too often, the culture in a construction company can become a losing one, especially in tough times. By inspiring higher levels of execution and celebrating individual and team successes, a CEO can raise the aspirations of the organization’s human resources. The best CEOs understand, practice, shape and lead with their company’s culture, raise their firms above mediocrity, and assemble many different people and talents. Taking the lead to shape the corporate culture can be quite a challenge anytime, but it’s even more important when the company grows to a multi-billion dollar organization.
This post was posted in Consulting, Center for Strategic Leadership, Talent Development and was tagged with construction industry blog, NRCI 2014 Q2, CEO, CEO in construction, ceo skills, cultural intelligence, ceo cultural intelligence
Posted on February 15, 2016 by FMI CorporationBeing at the top isn’t easy. CEOs don’t always have other high-level executives who they can brainstorm with, confide in, and bounce ideas off. In this blog, we explore the four levels of CEO activity that leaders need to be thinking about as they face the many same challenges – regardless of their lines of work: Level One: This level revolves around operational decisions that, in most cases, are presented to you – the CEO – based on historical issues. For example:
- Someone is leaving the company, so what are we going to do about it?
- Someone filed a claim, so how are we going to handle it?
- We are competing for a big job — how are we going to name a project manager and win the bid?
Posted on August 11, 2014 by FMI CorporationToday’s business environment is very different from six years ago when the pace of economic progress seemed unstoppable. With fewer prospects for growth and expansion, today’s design and construction companies are forced to fact-gather and research their markets, existing and potential customers, as well as competitors, ever-more carefully – failure to pay attention to changes in old markets or new opportunities could cost them their existence. Understanding client behavior – what makes them tick, how they make decisions, how they buy work and so forth – has become a critical element in today’s business dealings, particularly in the design and construction industry where people and relationships are key.