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Construction Navigating the talent crisis
Construction Navigating the talent crisis 02 Employment growth
The construction sector is bouncing back following difficult years and heavy impact on profits 03 Gen Z Understanding what motivates the workforce of tomorrow 04 Closing the gap Aligning the construction industry with Gen Z’s aspirations 05 Proactively altering Gen Z’s perceptions Addressing the construction industry’s image problem 06 Refreshing the industry’s
The global construction industry is at a crossroads. In many regions, the
attractive out of the 11 industry sectors tested among students in BDO’s research. What is causing this talent crisis in the construction sector? Our research reveals misalignments between the values, expectations and priorities of the new generation entering the workforce and senior decision-makers in the construction industry. The good news is that these barriers are not insurmountable. Realignment is possible if construction companies are prepared to listen and adapt to the needs of Generation Z (Gen Z) – i.e. individuals born between the late 1990s and early 2010s. As the talent crisis intensifies, the construction industry needs to take a fresh approach to its talent strategies. Fresh thinking is needed to reposition the construction sector as an employer of choice for Gen Z, and to dispel the myths and misconceptions that are turning students away from the rewarding and varied career options that the sector can offer. At BDO we are committed to helping the construction industry to navigate these challenges. BDO commissioned global research across ten major markets for the construction sector among both students
and industry executives. Our goal was to understand what motivates Gen Z and what the construction industry needs to do to improve its perception among this demographic. We hope this report will be the start of a valuable conversation about how leaders in the sector can successfully navigate the challenges and opportunities ahead.
construction industry has rebounded after the pandemic. Half of the construction companies surveyed by BDO anticipate they will grow headcount during the remainder of 2023. As a result of wider societal shifts, demand for affordable housing, essential infrastructure and greener buildings is high. However, a perfect storm of challenges lingers on the horizon. Inflationary pressures, supply chain challenges and ongoing site delays resulting from COVID-19 cause continued uncertainty. These problems are worsened by the difficulties in attracting and retaining talent, particularly among the younger generation. Half of the construction companies surveyed by BDO say they find it very difficult to attract and retain early career professionals. Only 16% report no difficulties in hiring to fill vacancies. The construction industry must recognise that it risks not being able to meet demand if it cannot develop a reliable pipeline of young talent who see a bright future ahead for themselves in construction. Students are turning away from a career in the industry. Construction ranks as only the eighth most
approach to recruitment, retention and diversity
07 Conclusion
BDO’s message to Gen Z Practical lessons for construction executives 08 Countries in focus
Arjan Endhoven Head of Global Real Estate & Construction
Australia Belgium Brazil Canada Latin America The Netherlands New Zealand Norway South Africa USA 09 About BDO’s research 10 How BDO can help
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