04 Apr

FMI Releases 2023 Engineering and Construction Industry Talent Study

By

Raleigh, NC (April 4, 2023) -- FMI Corporation, a leading provider of consulting and investment banking services to the built environment, released the 2023 Talent Study focused on the engineering and construction industry.

In the report, FMI updates its data from 2017 by surveying executives and field leaders about the challenges related to attracting and retaining talent across jobs. More than half of survey respondents reported that talent shortages are having a high to severe impact on their companies but only 19% have succession plans for key strategic roles. And the problem continues to worsen as more people retire or leave the industry.

With the construction industry needing to hire an estimated 546,000 additional workers on top of the normal pace of hiring in 2023, FMI found that company culture and brand will be key components in attracting new talent to the industry.

In this report, readers will get an overview of:

  • The lack of talent in the pipeline and how to add to it.
  • Ways companies are developing and retaining field leaders.
  • Leveraging training to boost next-generation leaders.
  • Using culture to set your firm apart from the competition.

FMI also delves into specific challenges and questions to ask to close the gaps.

Download the full report for the latest insights.

About FMI

FMI is a leading provider of consulting and investment banking services to the built environment. FMI provides services in the areas of strategy, leadership and organizational development, operational performance, mergers and acquisitions, financial advisory and private equity financing.