PCCA Journal|2
nd
Quarter 2010
33
idle it was not making you any money, so you might as
well take advantage of the lull to get it in tiptop condi-
tion. That same logic holds true for your “most valu-
able asset,” people. Unlike equipment, talented people
improve with age, experience, and training.
Here’s a recap:
Your people are your most valuable asset.
•
The current economic times have forced many to
•
make some tough decisions, and you now have the
best performing, most productive group of people
available in your company.
The demographics of the construction industry are
•
pressing you to transfer skills and ability as quickly
as possible to the next generation because Baby
Boomers will be retiring.
Your backlogs are smaller, projects are less profit-
•
able and tougher to produce, and your service area is
more spread out than it has ever been. Mistakes are
more costly than ever.
Invest your first training dollars where the training
•
need (risk) is high and the skill level is low to get the
greatest return.
Before you invest in training, target your training
•
efforts by selecting the best, most focused delivery
and content possible for each group to maximize the
effectiveness and application.
Because people are your most valuable asset, this
•
slow-down time offers you the best opportunity to
put your limited resources to work, learning. Invest
in your people now to manage risk today and make
them more valuable as you rebound in the coming
months.
Many owners take the position, “If we train them,
they might leave.” Job-hopping was a bigger risk a few
years ago; not so much today. Today, a better follow-
up question is, “What if we don’t train them and they
stay?”
A senior executive with a billion-dollar general con-
tracting firm observed, “Even if you think you are good
at what you do, I want you to get better.” This attitude
helps him manage project risk, grow his business, and
create a gap between his company’s performance and
the next guy’s. In this economy, he is taking the long-
term view of success and proving that his people are
his most valuable asset. You can prove it, too.
Andy Patron is a senior consultant with FMI Corpora-
tion. He can be reached at (919) 785-9239 or apatron@
fminet.com.EECI10169-S01-01
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