The workforce demographics in the United States are rapidly changing. According to census information, 35% of working adults are project to retire within the next 20 years. The construction is being particularly affected by this demographic shift as fewer employees are entering into the industry. This shift is especially bad among project professionals within the industry. The response to these changing demographics depends on how companies manage their talent and plan for successions. In order to investigate this workforce problem in the construction industry, the author has partnered with an expert panel of human resource executives from various companies in the construction industry. This research seeks to investigate methods in which construction companies can identify high potential project leaders early on in their careers through quantitative methodologies. The author first validated the research problem by gathering demographic data from six U.S. construction companies varying in size and industry expertise. As a result of analyzing information from 2,294 construction employees in the project management career path, the authors have found that 58% of these individuals are projected to retire within the next 12 years. The author also conducted a detailed literature review and six company interviews to investigate current succession planning practices in the industry. The results show that very few companies have contingency plans for early to mid-level employees. Lastly, the author conducted 76 employee psychological evaluations to measure personality and behavior traits. These traits were then compared to supervisory performance reviews of these employees. The results of this comparison suggest that high potential employees tend to showcase previous leadership experience and also tend to be more outspoken and are also able to separate their emotional bias from business decisions. Using these findings, the author provides an interview tool that employers can use to expand their talent pool in order to identify high potential candidates that may have been previously overlooked. The author recommends additional research in further developing the use of quantitative tools to evaluate early-career employees in order to more efficiently align resources within the shrinking talent pool.
- Adaptive talent management for project professionals: early identification of future industry leaders
- Business Administration
- Project management
- Succession Planning
- Talent Management
- Construction industry--Employees--Supply and demand--United States.
- Construction industry
- Executive succession--United States.
- Executive succession
- Leadership--United States.