The construction industry is expected to grow 7.4% in commercial markets and nearly 20% in residential in 2016. Talent is the primary concern for most construction companies today. This concern is being fueled by:
- A shortage of skilled trade workers
- Retirement of top leadership
- Millennial job-hopping behavior
- More unpredictability and disruption in the industry driven by economic turmoil in other sectors
To illustrate the challenge, the US is graduating approximately 100,000 engineers per year across disciplines and there are over 270,000 civil engineering job openings and another 350,000+ construction management job openings. We see a “pig in the python” event with a bulk of senior leadership reaching retirement age in the next five to ten years. Millennials tend to change jobs more frequently than previous generations. Attracting, developing, and growing a talent bench for a more diverse pool of candidates is an industry imperative.
Changing fuel prices and other economic uncertainties have caused downturns in mining, O&G, power projects, and mega-projects. As a result, construction companies must be agile, know their strengths and weaknesses, and develop the capability to deploy teams for different types of projects.
Tycoon has several different construction business simulation offerings to address the challenges in this industry:
- The Recruitment Game – Learn about the industry through a fast-paced game in which you play the role of engineer at different levels on different projects. See if you have what it takes to get promoted.
- Onboarding – Accelerate the time to productivity for new hires by immersing them in an industry simulation.
- Leadership Development – Run multiple projects from bid to completion to learn the business.
- Executive Challenge – Practice agility in meeting the demands of an unpredictable environment in this half-day strategic challenge.
- Virtual Industry Simulations – Our simulations can be delivered for individual learning as the participant engages in virtual challenges in the industry or for virtual collaboration among distributed teams.