FMI Releases 2013 U.S. Construction Industry Talent Development Report

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FMI, a leading provider of management consulting and investment banking* to the engineering and construction industry, announces the release of its 2013 U.S. Construction Industry Talent Development Report. The report is based on responses nationwide from a mix of general contractors and construction managers at firms of all sizes and specialties, including mechanical/plumbing and heavy/highway/civil.

More than half of respondents report a shortage in skilled labor. As a war for talent begins, construction experts must evolve their methodology of searching for the best and brightest employees. First, construction careers must be made more appealing to women and minorities. Second, there must be an appeal to today’s youth through career counselors, career fairs and utilization of social media channels.

In addition, as baby boomers retire, more than 75 percent of those surveyed said they were preparing for a leadership transition in three ways:

  1. Promoting internally
  2. Training to improve performance
  3. Providing internship and co/op programs

    4.  
    Also, more than half of those surveyed said they were:

  1. Identifying gaps in core competencies
  2. Increasing recruiting efforts at schools and universities
  3. Employing “best practices” to retain key talent

 
To download a copy of the full report, click here. For reprint permission or to schedule an interview with the author, please contact Mike Gauss at mike@articulon.com.

About FMI:
FMI is a leading provider of management consulting, investment banking* and research to the engineering and construction industry. We work in all segments of the industry providing clients with value-added business solutions, including:

  • Strategic Advisory
  • Market Research and Business Development
  • Leadership and Talent Development
  • Project and Process Improvement
  • Mergers, Acquisitions and Financial Consulting*
  • Compensation Benchmarking and Consulting
  • Risk Management Consulting

 
Founded by Dr. Emol A. Fails in 1953, FMI has professionals in offices across the U.S. FMI delivers innovative, customized solutions to contractors; construction materials producers, manufacturers and suppliers of building materials and equipment, owners and developers, engineers and architects, utilities, and construction industry trade associations. FMI is an advisor you can count on to build and maintain a successful business, from your leadership to your site managers. For more information, visit www.fminet.com.

*Investment banking services provided by FMI Capital Advisors, Inc., a registered broker-dealer and wholly owned subsidiary of FMI.

TCAR Announces the Annual Toy Drive Showcase

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The TCAR Annual Toy Drive Showcase will be held on December 10, 2013. A luncheon program this year, the event is from 12:00 p.m. to 1:30 p.m. at Sumner Business Park, 2641 Sumner Blvd, Suite 116, Raleigh, N.C. 27616.

The annual showcase will feature a presentation by Adrienne Cole, executive director of Wake County Economic Development. BPG Management Company-NC is sponsoring the event.

TCAR_Toy_Drive_12-12-12
Capital City Clause organizers with the 100+ toys
from the 2012 Showcase/toy Drive

The TCAR Annual Toy Drive Showcase will be held on December 10, 2013. A luncheon program this year, the event is from 12:00 p.m. to 1:30 p.m. at Sumner Business Park, 2641 Sumner Blvd, Suite 116, Raleigh, N.C. 27616.

The annual showcase will feature a presentation by Adrienne Cole, executive director of Wake County Economic Development. BPG Management Company-NC is sponsoring the event.

Attendees are asked to bring an unwrapped toy that will be given to the Capital City Clauses, a 501(c)(3) non-profit corporation. Its mission is to bring holiday cheer to Wake County children in need. All the toys benefit the Salvation Army Christmas Cheer Program. The 2012 event brought in more than 100 toys.

The event is free for TCAR members. Non-members will be charged $35 to cover the cost of lunch. To register, email jennc@tcar.com or call 919-228-2588. TCAR members may also register online with their TCAR login.

About Triangle Commercial Association of REALTORS®:
The Triangle Commercial Association of REALTORS® (TCAR) is one of 1,800 local associations of REALTORS® nationwide that comprise the National Association of REALTORS®. TCAR is the second largest commercial overlay board in North Carolina with 600 members, and is accredited through the REALTORS® Commercial Alliance. The association was established in 1995, but began as a committee of the residential real estate board in 1977. TCAR serves: real estate practitioners, appraisers, property managers and others allied with the real estate industry in a 14 county area, including the Triangle. For more information, visit www.tcar.com.

Nonresidential Construction Index Drops in Fourth Quarter

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FMI, a leading provider of management consulting and investment banking* to the engineering and construction industry, announces the release of the 2013 Fourth Quarter Nonresidential Construction Index report. The NRCI shows a 2.9 point drop in the fourth quarter to 57.4. However, the score is still ahead of fourth quarter 2012 by 1.9 points. An NRCI of more than 50 indicates growth, therefore the fourth quarter score still indicates modest improvement in the industry.

One of the reasons cited for the slight decline is the political infighting and uncertainty. Proceeding with caution by investors seems to be the new norm.

Productivity continues to slide. The 48.6 score is at its lowest since the second quarter of 2008. Ultimately, attention to productivity and profit margins will be key to sustaining growth going forward.

Building construction continues to improve since 2012. However, growth is still unsteady as the numbers have slipped 7.5 points to 64.1 this quarter. Material and labor cost also continues to rise causing the overall NRCI to fall.

To download a copy of the full report, click here. For reprint permission or to schedule an interview with the author, please contact Mike Gauss at mike@articulon.com.

About FMI:
FMI is a leading provider of management consulting, investment banking* and research to the engineering and construction industry. We work in all segments of the industry providing clients with value-added business solutions, including:

  • Strategic Advisory
  • Market Research and Business Development
  • Leadership and Talent Development
  • Project and Process Improvement
  • Mergers, Acquisitions and Financial Consulting*
  • Compensation Benchmarking and Consulting
  • Risk Management Consulting

 
Founded by Dr. Emol A. Fails in 1953, FMI has professionals in offices across the U.S. FMI delivers innovative, customized solutions to contractors; construction materials producers, manufacturers and suppliers of building materials and equipment, owners and developers, engineers and architects, utilities, and construction industry trade associations. FMI is an advisor you can count on to build and maintain a successful business, from your leadership to your site managers. For more information, visit www.fminet.com.

*Investment banking services provided by FMI Capital Advisors, Inc., a registered broker-dealer and wholly owned subsidiary of FMI.

FMI Predicts U.S. Construction Put in Place Will Reach $977 Billion in 2014

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FMI, a leading provider of management consulting and investment banking* to the engineering and construction industry, announces the release of its 2014 U.S. Markets Construction Overview. With construction put in place at the end of 2013 expected to be at $909.6 billion, researchers at FMI predict CPIP growth rates to be slightly ahead of the GDP in 2014.

Other predictions include:

  • Residential CPIP is anticipated to grow from $338.2 billion in 2013 to $379.6 billion in 2014.
  • Health care CPIP is expected to grow 6 percent in 2014 to $44 billion.
  • Transportation construction should finish 2013 with an 8 percent increase; 2014 predictions show a decrease to 7 percent growth.
  • Manufacturing construction is on the upturn, expected to grow 4 percent in 2014, after its 2 percent drop in 2013.
  • Sewage and waste CPIP should reach $21.3 billion in 2014.

 
With moderate growth predicted marketwide, there are key trends to watch that will likely affect various sectors and regions in the U.S. Presenting both threats and opportunities are:

  • The shift from shale-gas to shale-oil production has led to projections that the U.S. will produce more oil than it imports by late 2014.
  • The federal government’s fiscal difficulties continue to create business uncertainty. Many are worried about the federal debt and the government’s solution to address the problem.
  • Implementation of the Affordable Health Act is causing concern, as repercussions are anticipated.
  • With baby boomers continuing to retire, succession planning and a search for talent remains one of the industry’s primary challenges.
  • Modularization and prefabrication is expected to play an increasingly vital role in improving the productivity of the entire construction value chain.
  • As a result of the expansion of the Panama Canal, U.S. coastal infrastructure opportunities will create significant corridors of construction activity starting as early as 2014.

 
FMI publishes the U.S. Markets Construction Overview annually. To purchase a copy visit www.fminet.com/resources. Members of the media may request a complimentary PDF file of the Overview by clicking here.

About FMI:
FMI is a leading provider of management consulting, investment banking* and research to the engineering and construction industry. We work in all segments of the industry providing clients with value-added business solutions, including:

  • Strategic Advisory
  • Market Research and Business Development
  • Leadership and Talent Development
  • Project and Process Improvement
  • Mergers, Acquisitions and Financial Consulting*
  • Compensation Benchmarking and Consulting
  • Risk Management Consulting

 
Founded by Dr. Emol A. Fails in 1953, FMI has professionals in offices across the U.S. FMI delivers innovative, customized solutions to contractors; construction materials producers, manufacturers and suppliers of building materials and equipment, owners and developers, engineers and architects, utilities, and construction industry trade associations. FMI is an advisor you can count on to build and maintain a successful business, from your leadership to your site managers. For more information, visit www.fminet.com.

*Investment banking services provided by FMI Capital Advisors, Inc., a registered broker-dealer and wholly owned subsidiary of FMI.

BBB Helps More Than 1,000 Triangle Residents Protect Their Identity

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BBB October Shred

More than 1,000 Triangle residents participated in the “Secure Your ID” Day event held Saturday at Coastal Federal Credit Union and Executive Office Suites of Lafayette Village. In total, 38,000 lbs of documents and seven tons of electronics were destroyed.

“Identity theft remains a serious issue, and you simply cannot take any chances when it comes to protecting yourself,” said Toby Barfield, president and CEO of Better Business Bureau serving Eastern North Carolina. “Shredding sensitive documents and destroying electronic devices is an excellent first step, and it was great to see so many people taking advantage of this opportunity.”

Curtis Media Group served as a media sponsor promoting the event on five stations, WPTF, Funny 570, Radio 96.1, WBZJ and LaLey. Free shredding services were provided by PROSHRED® Security and A Shred Ahead® and local recycler GEEP collected all electronics.