b'YOUR TOOLKIT FOR BUILDING EXCELENCETIME FOR A PAUSE: REEVALUATING RECRUITING STRATEGIESIt wasnt that long ago that the economy was humming along and workforce shortages were a top concern for most contractors. Fast forward a few months and the coronavirus is front page and the workforce discussion has shifted to, How do we protect our employees from mass layoffs, keep them safe from the virus, and survive as a business?BY Laura CataldoI n many states, construction is defined as anwell in the future. There are many examples of essential activity. Construction employeeshow our industry adapted during the coronavirus are able to work, support their families, andpandemicoperations, process, communication, contribute to their communities. Despite thetechnology, and the list goes on. How have you fact that 40% of contractors have experiencedchanged your talent recruitment efforts? During project delays related to COVID-19, we shouldthis challenging time, companies likely describe consider ourselves lucky to be able to work. talent management more in terms of triage than Many construction industry economists predicta dedicated effort to recruit, ultimately aiming to that the recession caused by the coronavirusbe well-positioned with talent for the rebound, pandemicwillbeverysignificanttothewhich we know is not a matter of if but when.private sector because select industries areWithoptimisminmind,theconstruction essentially shut down (manufacturing, retail,industry needs to maintain a focus on recruiting and hospitality among them). ITR CEO Brianand retaining talent to avoid the challenges we Beaulieu recommends that businesses keepexperienced following the 2010 recession. Our calm and carry on because the U.S. economy isindustry not only lost a significant number strong and we will get to the other side of this.of experienced employees, but also created a Anirban Basu of Sage Policy Group predicts thatpipeline deficit by not continuing to focus on when recovery commences, it will be sharp,attracting and engaging the younger generation. profound, and most welcome. He cites lowThe failure to invest in building the pipeline interest rates, pent-up demand, and the need tocreated a workforce crisis felt by many throughout rebuild inventories and reengage with humanthe last 10 years. When we rebound from the activities as the primary reasons why the recoverypandemic, companies will again be focused will be swift. on finding the right talent. Companies that This pause between today and the economicpreviously abandoned their strategies to hire, rebound is a once-in-a-lifetime opportunity (wedevelop, and retain top talent will struggle to meet the opportunities of the economic rebound.hope) to slow down from a frantic pace and assesscontinued on page: 30if the business practices of the past will serve usFRAME BUILDER - OCT2020 / 29'