The continuing slow-growth economy has already created tighter budgets and stricter schedules for architects, engineers and contractors. Add in a looming shortage of talent as Baby Boomer employees start to retire in expected record numbers—and the issue escalates into a serious problem.While there seems to be no silver bullet for this dilemma, the good news for firmsis that young professionals often referred to as Generation Y or Millennials, have skills rooted in entrepreneurship, technology, and collaboration—skills that can help counter some of the sector’s emerging challenges. For many Millennials, there is no reminiscing on the industry’s “good times.” Fewer bidding
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.