Construction bosses must try harder if they want to win talented new graduates, says Chris Booth, managing director of refurbishment and fit-out firm Overbury.
Attracting top talent is a major challenge for the construction industry as it recovers from the decimation wrought by the recession. Competition is tough. Ambitious graduates are increasingly drawn to established training programmes and high starting salaries offered by other sectors. For example, more newly qualified quantity surveyors are going into banking, where a premium is placed on their numerate, agile minds.
The UK is currently producing 40,000 fewer graduates in science, technology, engineering and mathematics than it needs, according to the social enterprise Teach First, leaving many industries competing for the same top quality candidates.
A small minority of construction firms like Lend Lease, AECOM and Arup successfully mirror the approach of professional services firms. But these are limited to similarly sized global players. Continuing pressures on bidding and pricing of construction contracts make it difficult for most companies to match the deep pockets of professional services firms, especially at an entry level. Instead we have to think smart about investing in career development and improving our sector’s reputation.
Raising the standing of professional bodies such as the Chartered Institute of Building, Royal Institution of Chartered Surveyors, Institution of Electrical Engineers, Institution of Mechanical Engineers and Royal Institute of British Architects would help cement the quality of construction careers. There is an opportunity to reverse negative perceptions, but only if we can present a united front.
One of the most ruinous reputational problems is that the construction industry appears to be in a continuous cycle of feast or famine. Famously hit hard by the recession, construction could look like an unstable career in the eyes of graduates. Creating stability in the market and committing to consistent employment and career development will help address this.
Firms can help by working with universities and committing to employ a certain number of graduates each year, regardless of the state of the economy.
As well as working with universities in this way, at Overbury we’ve had considerable success in employing school levers with good A-levels taking a vocational route. By supporting individuals through their studies and paying fees for undergraduate degrees or Higher National Diplomas, we can offer valuable experience and a decent salary. This is a great way to attract talented young people keen to avoid student debts and a solid alternative to competing for graduates.
Another issue is professionalisation. Becoming a qualified member of a professional body delivers recognition as a skilled practitioner and long-term financial security. Best practice can be seen in the professional development offered in civil engineering and architecture. Both provide clear career paths, with exams and post-graduate diplomas to become a chartered professional. This internationally recognised stamp of authority is something many other parts of the construction industry could benefit from. Transparent career paths allow new entrants to see where they could be in five, 10 or 20 years’ time.
Attracting the best talent in the face of fierce competition is a far from easy task. But it is a vital one. In addition to lack of supply, the construction industry faces attrition due to retirement with 500,000 people set to leave the sector by 2025. Those firms that make a concerted effort to offer better career opportunities and earn a reputation for doing so will reap the ultimate reward of safeguarding their future.
