Why Settling for Mediocre Talent is an Expensive Mistake

Blog 42 Mediocre TalentBy Brian Binke 

Settling for mediocre talent could be sabotaging your construction company’s success and shaving thousands of dollars off your bottom line. Since there is an ongoing labor shortage to fill construction jobs, some companies are attempting to resolve the issue by hiring subpar workers. Although it might seem like convenient, short-term solution, it’s a costly mistake that will only hurt your bottom line in the long run.

The Cost of Mediocre Talent

Settling for mediocre talent costs potentially hundreds of thousands if not millions of dollars to your bottom line. Employing mediocre talent will increase your company’s turnover rate. In turn, you’ll be paying a high price to replace employees through an increased frequency of new hires and new hire training. You’ll also have to contend with unfinished work and partially finished projects. Some additional drawbacks:

  • Completed projects will be lower quality.
  • Inferior talent commits more mistakes, driving up costs.
  • Subpar workers don’t save the company money.
  • Mediocre leaders don’t take a big picture view.
  • The value of your brand will likely suffer.

Developing a Winning Philosophy

Establishing a winning philosophy in the commercial construction industry often requires thinking outside of the box. Construction companies are a lot like sports teams - the teams with the best players win. Companies can succeed as long as they have these things in place:

  • Leadership
  • A good vision
  • Capital
  • The right people to execute the vision

If you want to take your construction company to the next level, then you’ll need to hire top candidates.

What Great Talent Does for Your Business

Offering competitive construction salaries will increase your odds of attracting skilled talent to your commercial construction jobs. Then, the pros of hiring the top candidates are infinite. Having great estimators and pre-construction folks means your company will have a better chance of landing great projects based upon your reputation for using talented workers on your projects. In addition, you can expect:

  • Having talented workers leads to a great reputation and increased brand recognition.
  • A great reputation leads to a higher demand and better price for your work.
  • Great leaders and workers create growth for the company.
  • Company growth means a better bottom line for everyone.

Companies should invest in the most talented workers upfront to enjoy repeat business and greater brand loyalty. In turn, customers will pay more for less headaches, better products and good people. Companies are willing to negotiate with construction brands that have respectable relationships, brand & quality. Successful employees will provide your company with longevity and become a strong selling point in presentations to win projects.

Since mediocre talent is easier to access, some hiring managers settle for them instead of hiring the most qualified candidates. If your company isn’t reaching the level of success that you’re shooting for, then you’re probably struggling to find the best talent. There are extremely talented professionals in this industry, but it takes extra effort, and the right recruitment strategy to land them. 

Brian Binke is the founder and CEO of The Birmingham Group (TBG). TBG is a globally recognized executive search and consulting firm, specializing in the construction arena. Over the past 22 years, he has established himself as one of construction recruiting’s most respected leaders. He has won numerous awards for his industry innovation and was recognized as the No. 1 revenue producing manager for the largest recruitment network of More than 800 independent firms worldwide. You can reach him directly at bbinke@thebirmgroup.com

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