In this Quarterly edition, our authors describe Texas’ business climate and reasons for success, share important lessons learned, and explore some of the key reasons why this state has maintained its prominence in the business market for decades.
Joint ventures are a good way to grow a construction business, particularly when dealing with large and mega-projects.
A few years ago, a marketing campaign for the state of Texas used as its tag line the phrase, “Texas: It’s Like a Whole Different Country.”
Examining the influence of culture, talent and leadership on innovation.
Three workforce development experts from Texas share their thoughts on how the E&C industry can do a better job of developing the workforce of the future.
Weathering down markets and cyclical work, Texas holds steady in construction employee compensation.
Built on four key pillars of strength, Texas parallels the engineering and construction industry as a strong, vibrant component of the U.S. economy.
Understanding buyer strategy is essential to comprehending exit options and making the best possible choice for your company.
Key lessons on how to create an inclusive and diverse corporate culture.
At its core, succession is a deeply emotional process for leaders. For seasoned executives, it often requires reflection and insight into one’s career journey and legacy.
How to effectively recognize and address the major, underlying shifts associated with ownership transfer and succession management in the E&C environment.
Exploring phantom stock issuance as a viable ownership transfer strategy.
Leaders tend to respond differently when given the opportunity to lead innovative processes. Some leaders feel an overwhelming sense of excitement for the challenge ahead and the chance to make a significant impact on their businesses. Others get a deep pit in their stomach full of doubt and fear […]
While there are no cookie-cutter solutions for ownership transfer, there are some viable strategies to consider when it’s time to successfully hand over your company’s ownership and management to the next generation.
Much has been written about the aging baby-boom segment of the population.
At its core, succession is a deeply emotional process for leaders. For seasoned executives, it often requires reflection and insight into one’s career journey and legacy.
When companies adopt growth mindsets, those organizations are more readily able to identify and grow leadership potential in their employees.
Key considerations that come into play when pursuing a third-party sale versus an internal buyout.
FMI often hears stories about innovations and positive disruptions occurring in and around the engineering and construction industry. These new ideas are often associated with project-related processes, systems or technologies. And while some ideas and technologies stick, many others seem to fail.
The E&C industry is undergoing a technology revolution that is impacting how firms find, train and retain top technical talent.
How to break out of the traditional leader selection mentality and utilize a more strategic approach to building future bench strength.
Why some construction managers may decide to forgo fees in the traditional sense to disrupt competition.
FMI often hears stories about innovations and positive disruptions occurring in and around the engineering and construction industry. These new ideas are often associated with project-related processes, systems or technologies.
For decades, industry stakeholders have lamented the inefficiencies and lack of productivity in the engineering and construction (E&C) industry.
A look at the rapidly evolving landscape following the growing demand for intelligent, interconnected commercial and residential buildings.
This edition of the Quarterly focuses on helping leaders and organizations understand what it takes to operate in a VUCA world.
Six ways leaders in the construction and engineering field can go beyond putting out day to day fires and think more strategically in today’s VUCA environment.
The race to cultivate and transition leaders into executive positions is on. Is your company ready for the challenge?
How leading companies are using context analysis to drive their organizations forward when the foundation for strategy formation is shaky and untenable.
Mirroring the 1970s, when large international firms first targeted acquisitions to enter the U.S. construction market in a significant way, new international players are emerging alongside traditional international competitors to target the U.S.
As automakers scramble to make cars that need little or no human intervention, it’s time to consider four key implications of this trend for the engineering and construction industry.
An in-depth look at the value of using long-term incentive plans in the engineering and construction industry.
Five critical factors driving agility in today’s engineering and construction organizations.
With the construction industry growing at a healthy pace in recent years, many contractors face the challenge of managing heavily congested job sites crowded with company-owned fleets and subcontractor and supplier vehicles.
Engineering and construction firms are dynamic and inherently risky businesses. Historically, owners, chief financial officers or risk managers were the sole administrators of risk management. Today, however, the issue of risk is everyone’s responsibility, and a risk management culture must be engrained across the entire organization.
Nine elements that should be included in every construction firm’s formal risk management strategy
How to improve risk management by creating a corporate culture that’s focused on knowledge sharing, collaboration and learning
Surety bonding can serve as an effective tool to help protect general contractors from the challenges associated with subcontractor default.
As a leader, have you gone through times where successes of the past have clouded your judgment, leading to lost profits, defeat or failure? In the construction industry, we face the delicate leadership balance of taking the necessary risks to grow and benefit the company without tipping the scales […]
How to successfully transition ownership while managing risk in the process
How one construction conglomerate is developing effective leaders across 40 different companies and 200 geographically dispersed locations.
Operating a tightening labor market, engineering and construction firms need to pay close attention to salary, benefits and other labor-related trends that can help them avoid job delays, botched projects and profit losses.
During the past few decades, there have been dozens of large contractors that, after many years of growth and apparent prosperity, experienced notable financial disasters, resulting in bankruptcy or a reincarnation of the business in a much different form.
Today’s engineering and construction (E&C) industry talent challenges are not new. However, we are at a critical inflection point: Ten thousand baby boomers are retiring daily across the U.S., leaving behind an incredible void of knowledge and experience — particularly in the engineering and construction space. Baby boomers created billion-dollar companies over the past several decades and […]
Being able to offer better services, technologies, strategies, products and cost structures can make one organization better than the next, but all of these factors are replicable.
When done well, the cost of assembling a peak-performing board is more than offset by its overwhelming benefits.
Adding some rigor to the decision of whether to hire versus acquire employees.
Painkiller medications — also known as opioids — can be effective in managing a worker’s pain, but they also come with a high likelihood of long-term overuse and abuse. A recent Mayo Clinic study revealed that one in four patients prescribed an opioid painkiller for the first time progressed […]
To truly break into the succession plan takes an enormous amount of focus, dedication, commitment and motivation for anyone looking up the career ladder.
Many of today’s construction employers lack a clear grasp of their employees’ skills and competencies.
Rather than focusing on outdated stereotypes, construction employers should develop workplaces where top talent across all generations can engage and thrive.
Today’s engineering and construction (E&C) industry talent challenges are not new. However, we are at a critical inflection point: Ten thousand baby boomers are retiring daily across the U.S., leaving behind an incredible void of knowledge and experience — particularly in the engineering and […]
Re-inventing your bonus pool structure: a new model
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