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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.

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