How construction CEOs can change their habits to foster growth and flourishing organisations
In the dynamic world of construction, the role of the CEO or owner-operator is often seen as synonymous with control and ownership. Many leaders in the sector have built their companies from the ground up, pouring their heart and soul into every project. However, a recurring theme has emerged in discussions with stakeholders in the real estate and construction sector: the reluctance of owner-operators to relinquish control and embrace change. This article delves into how changing certain habits can pave the way for not just individual success, but also collective growth within the organisation and the sector at large.
Recognising the value of change
- Shift from cash bonuses to meaningful recognition: while financial incentives like cash bonuses can be effective, they often fail to foster a deeper connection or sense of belonging among employees. Consider implementing reward & recognition programmes that celebrate individual and team achievements in more meaningful ways. This could include public acknowledgment during company meetings, employee-of-the-month awards, or opportunities for professional development. Read more about reward strategy in our recent insight ‘How to take an all-encompassing approach to reward strategy’.
- Empower your team: delegation is a powerful tool for growth. By empowering your employees to take on more responsibility, you not only lighten your own load but also help them develop their skills and confidence. This can lead to innovation and new ideas that drive the organisation forward. Create an environment where employees feel safe to share their thoughts and take initiative.
- Cultivate a positive company culture: a thriving company culture is essential for attracting and retaining talent. Foster an environment of trust, collaboration, and open communication. Regular team-building activities and feedback sessions can help break down barriers and encourage a sense of community within the organisation.
- Invest in recruitment and retention: the construction industry faces a talent shortage, making it crucial to focus on attracting and retaining skilled workers. Develop a recruitment strategy that highlights your company’s values, culture, and growth opportunities. Consider offering internships or apprenticeships to nurture young talent and create a pipeline of skilled workers for the future.
- Encourage continuous learning: the construction industry is constantly evolving, and keeping up with the latest trends and technologies is vital for success. Encourage a culture of continuous learning by providing access to training programmes, workshops, and industry conferences. This not only enhances employee skills but also positions your company as a leader in innovation.
- Lead by example: as a construction sector CEO or owner-operator, your actions set the tone for the entire organisation. Embrace change and demonstrate a willingness to adapt. Share your own experiences with overcoming challenges and the benefits that come from letting go of outdated practices. Your team will be more inclined to follow suit if they see you leading the charge.
Case Study: a successful transformation
In reflecting on successful CEO leadership in the construction sector, one exemplary case stands out from a leading international construction company. This organisation, run by a visionary owner-operator, was experiencing significant growth, with clients praising their work. However, the challenge remained. What next steps could he take to build on the value proposition offered to the companies he partnered with?
To enhance the organisation’s strategic content without diluting his ownership, the leader recognised the importance of surrounding himself with a strong leadership team. He strategically sourced heads of various business units within his centre of excellence, empowering these individuals to take ownership of their respective areas. This approach allowed them to focus on delivering exceptional products and services to clients, all while maintaining the core values that had driven the company’s initial success.
This transformation did not happen overnight. It required careful planning, patience, and a commitment to cultivating a thriving team culture. As these leaders settled into their roles, the organisation became primed for growth. It now boasted a clear strategy, a focused mission, and a culture that was second to none. The results were evident: the company not only maintained its existing client base but also attracted new partnerships, reinforcing its reputation in the industry.
Today, this organisation continues to flourish, serving as a powerful example of how the right leadership structure and a commitment to empowering others can lead to sustained success. The owner-operator’s willingness to adapt his approach and invest in his team has proven invaluable, demonstrating that true leadership lies in the ability to foster growth in others while maintaining one’s own vision for the company.
Conclusion
Changing deeply ingrained habits is no easy feat, especially for those who have poured their lives into building their businesses. However, embracing change and empowering others within the organisation can lead to remarkable growth and success. By recognising the value of meaningful recognition, fostering a positive culture, and investing in your team, you can create an environment where both the organisation and its employees can flourish. The construction sector is in need of CEO’s and leaders who are willing to evolve and adapt—those who understand that true success is not just about individual achievement but about uplifting the entire team.
How Moore Kingston Smith’s HR Consultancy (HRC) can support your organisation
Our HRC team is dedicated to helping organisations like yours navigate transformation and acquire the necessary industry knowledge to thrive. We offer tailored organisation design and development solutions, focusing on leadership and management learning initiatives that empower your team.
If you’re interested in collaborating with our HRC team to improve your workplace and develop strategies to tackle the challenges in the real estate and construction sectors, please reach out to our specialists.