Brace your business for a tech-boom in 2020. The construction sector faces significant technological advancements in the year 2020, which will have a real impact upon the landscape of the industry.
Only those that adapt by implementing a strategic talent management plan, can ensure that their business will ride the wave of these technological changes towards further success.
As technology diversifies and advances, the need for tech-literate talent in the C-Suite of your business becomes ever more pressing. To neglect to include a talent management strategy that takes this into account, is to put your business at risk of being “out of touch” with the competition.
The tech is advancing fast, but the construction sector is dragging its heels
Historically, the construction sector has been sluggish to integrate new technologies into its sub-sectors, with the Construction Industry Institute commenting that “The construction industry lags compared to most industries in regard to utilising advances in technology.” This is despite significant benefits to be gained “if technology could be more effectively leveraged.”
This cautious approach to adopting the very latest technology often has to do with antiquated thinking, and an industry-wide reluctance to make the big investments in something that “isn’t broken”.
This mindset often leads to a waiting game of cat and mouse between leaders in the construction sector – if my competitor invests copious amounts of cash into new tech, then I’ll follow suit.
This irreverence for the substantial value of being the first to utilise innovative new technologies, has often held the construction sector back from making great strides and improvements.
2020 won’t allow for such games – tech is simply moving too fast to sit around and wait for someone else to pounce. To stay at the top, you need known leaders in tech for your sector, that aren’t afraid to pull the trigger.
The range of new technologies across the sub-sectors of construction are vast, including advanced machinery, computing, software, and digital. Commenting on digital tech, an in-depth study from WEF states that “Ultimately, digital technologies will realise their full potential only if they are widely adopted as an industry norm. It is crucial to create a fertile environment for the digitalisation of the E&C sector.” This ultimately reflects a need for the construction sector to embrace new technologies across the board – including digital.
How talent management can help you to stay ahead and take advantage of new tech
It’s an exceptionally exciting time for the construction sector – big changes are coming, and along with those changes, there are monumental opportunities to get ahead of the pack.
Taking advantage of said opportunities requires you to have the appropriate talent leading from a tech-first viewpoint. By incorporating the importance of tech-savvy individuals into your talent management strategy, you can be assured that your business is heading in a direction that will equal success in the technology-rich future.
Here at Goodall Brazier, we are highly experienced in acquiring and placing versatile candidates that are leaders in their sectors, and will help to drive success. And whilst you may, understandably, be reserved in taking these steps, to neglect to integrate a talent management strategy into your business that puts technology at the forefront, is to deny your company the vast opportunities of 2020 and beyond.