Compensation Planning for Engineering and Construction Firms – 2016 Industry Survey
In today’s economic climate, finding and retaining employees is becoming increasingly challenging for U.S. engineering and construction (E&C) firms. The E&C industry is now in its ninth consecutive year of growth, a phenomenon for companies familiar with an average cycle of seven years between downturns, but construction spending still falls short of pre-recession levels. Continued demand has strained the labor pool, particularly for specialized jobs. As a result, companies have sought innovative and unique approaches to hiring and retaining top talent. Naturally, employee compensation has become a key focus area for these companies.