Increasingly today, it is becoming more and more difficult for organizations to recruit and retain top employees. With the construction industry enveloped in a war for talent, professional pay levels have risen in many areas throughout the nation as organizations are offering higher wages to attract critical employees. The rise in labor costs has greatly affected company profit margins. As profit margins thin and labor costs rise, it is imperative that organizations take a data driven approach to closely monitor pay changes in their competing markets to remain equitable and competitive.

During this webinar, attendees:

• Discussed why more construction firms should participate in compensation surveys to monitor wage changes in the market
• Explored FMI’s suite of compensation and benefits survey offerings
• Reviewed the benefits of participating in non-crowdsourced, statistically valid surveys

When faced with the succession challenge, many owners in the E&C industry don’t know where to begin. According to FMI’s 2017 OTMS Survey, “only 59% of respondents were confident in their successors’ ability to lead the business in the future.” Many next-generation leaders aren’t prepared to lead their business, and for baby boomers who have delayed their transition planning, the options are dwindling due to the amount of time needed for effective ownership and leadership transition. Now more than ever, companies need to raise the bar when it comes to developing and investing in leaders across the organization.

During this webinar, we:

• Explored strategies for owners to successfully transition ownership while growing their companies
• Discussed the realities involved with selling your business and the preparation required to do it successfully
• Reviewed survey results and key findings from FMI’s 2017 OTMS Survey

Corporate America (as well as multiple research studies) widely acknowledge that there is a high correlation between the quality of corporate governance and long-term business success. In that vein, FMI recently completed a study to assess the corporate governance of Construction Industry Round Table (CIRT) firms to identify common factors that appear to either directly or indirectly support higher levels of business performance. During this webinar, we discussed the four major findings from the study and the implications to the E&C industry. We also ran participants through a short “assessment” to gain insight on their board’s current effectiveness followed by tips on where they can start moving their board towards a true peak-performing board that’s a strategic asset to the organization.

Other topics discussed:

• Learned about the current state of corporate governance in the Engineering & Construction industry
• Explored what factors drive peak board performance
• Explored how participants’ boards measure up to best in class performance

Transitions are never easy, but none are harder than leaving a leadership position of influence, status and reward. Retirement, or even the thought of it, often deeply affects a person’s sense of purpose, identity, and sphere of relationships. Thoughtful leaders will give as much attention to their personal transition as they do to the organizational transition. This webinar guided participants in self-examination to prepare for a successful transition down the road.

During this webinar, we:

• Discovered the impact of succession on the leader and his/her family
• Developed simple strategies to prepare for the impact of change
• Started planning how the next chapter of life can be just as engaging (minus most of the stress!)

Much is made of the potential for automation of the construction industry to deliver improvements to projects and operations. Meanwhile, labor productivity remains a concern for many in the industry, and which is compounded by the challenge of labor shortages. How then can automation and improvements in construction management workflow deliver tangible improvements to labor productivity and reduce the impact of a nationwide labor shortage?

This webinar looked at recent emerging trends in the field of automation, field digitization, the widespread adoption of construction field applications and overall successes in operational excellence through the lens of construction labor productivity. It assessed where improved process and technologies offer solutions to lingering labor productivity challenges, and where contractors that are looking to improve operating conditions on job sites should focus. It also reviewed some key success factors that have been observed across recent technology deployments as enabling solutions.

During this webinar, we:

• Learned emerging trends in construction labor productivity and technology and automation that can improve labor management, productivity and project performance
• Created opportunities and value delivered through the adoption and deployment of impactful tech and automation
• Learned the key requirements to drive successful outcomes from technology initiatives