Today’s economy creates a tenuous position for business owners and professionals. The financial near-future of construction and development is uncertain at best, and trends point to a recovery not being as quick as we all would’ve hoped. This is incredibly stressful on leaders in industries like architecture, construction, and design– fields where business is growth and growth is business. Even when growth stagnates, however, there are opportunities to position your business to better weather whatever storm comes your way. Flexibility is essential now in order to stay afloat– we must mold our businesses to be prepared for whatever comes.
When unemployment rates are higher, short term employee retention is much higher. Applicants for positions will tend to be more qualified and plentiful. In these times, putting care into your interviewing, screening, and hiring is absolutely essential. You’re not only looking for a professional for a couple of months. In an economic downturn, you have to take what opportunities you can, and a skilled, engaged staff is how you can be ready for and flexible enough to adapt to those opportunities. You want to get better people in the door and keep them around for years to come.
Now is the time to take care of your people and train them properly. Unemployment rates already have begun falling, and you don’t want everyone you’ve invested in to leave you for better opportunities. Training can be essential for long term employee loyalty. Learning the right tools is a mutual gain for both employer and employee. Look at some continuing education for your workforce. A more educated worker is going to be more flexible to adapt to whatever the future brings.
We’re all struggling together. Now is the time to reach out. Think about with whom you can establish professional relationships that are mutually beneficial. Suppliers, contractors, designers, architects, and engineers have all been feeling the effects of this economy. Get into contact with people you want to work with in the future. Plan together so that when those opportunities come, you can succeed together. Contact us if you feel like there’s any way we, at CDA Wood, can be a part of your success story.
Waiting to act won’t get you through these tough times– it’s time to work on what you can control. Get the right people the right training with the right professional relationships to be flexible enough to stay afloat during whatever comes your way. The more uncertain our future gets, the more essential it is to maintain flexibility and preparedness. Jobs are beginning to come back, development is starting to recover. The future may be uncertain, but by adapting together, we can get through this together.