If the projects come in this year, will you have the right people to get them done? Or will another contractor sweep up your most valuable employees?
Keep Good Talent and Keep Them Happy
In our blog post, Salary Increases Alone Might Not Be Enough to Retain Construction Company Employees, we discussed how salary is the number one reason people leave jobs. But it’s not the only reason. Companies today are not only offering competitive compensation and good benefits, but they're also paying attention to morale, leading with integrity, and fostering a positive culture of open communication and continual feedback.
How Do You Keep Good Talent?
I suggest getting a little militaristic.
In the Army, every assignment has an almost immediate debrief. There’s no waiting period to go over what happened. The general is never above criticism and people at every rank have the opportunity to share their thoughts. And top performers have clear roadmaps for their future success.
Similarly, your construction firm needs accountability standards. If you don’t already, take five to ten minutes after each project to do an immediate review with the whole team. Build in feedback processes, self and peer reviews, and career path discussions, especially for star talent.
Recognize Weak Links and Weed Out Poor Character
There are two broad categories of “weak links” in any company: those with poor competency, and those with poor character. If you see good character and poor competency, invest in them. If someone isn’t getting feedback on what they’re doing, they’re never going to get better. But if it’s a character issue, that’s a whole different story. However difficult, you may need to pull the trigger much quicker and simply get rid of them.
Need Help?
A construction company can have a lot of heavy duty equipment, but its number one overall asset will always be its people. Our construction industry experts can help mitigate issues that have a domino effect on your firm’s profitability.
For a confidential discussion of your situation, contact us online or call 800.899.4623.
