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Risk in Context Podcast: Addressing people challenges within the construction industry

The global construction industry continues to face a significant talent shortage.

06/04/2024 · 3 minute read

The global construction industry continues to face a significant talent shortage. And as different regions invest in major infrastructure projects, the need for skilled talent continues to grow.

The current talent shortage coupled with the unprecedented growth of the industry often requires skilled workers to travel either within their country or beyond to work on projects. Labor mobility may complicate health and well-being challenges that construction companies must try to identify and address. Similarly, as they seek to attract and retain the right talent, whether homegrown or imported, organizations might need to revisit their benefits packages to ensure these are in line with their people’s expectations.

In this episode of Risk in Context, Christopher Davis, the US Project Risk Practice Leader, speaks with Joao Buzio, the Head of Global Contractor and Infrastructure Development, and Greg Hendrickson, a Senior Principal within Mercer’s Health and Benefits Practice. They discuss some of the primary people-related challenges that companies may encounter when undertaking large-scale infrastructure projects. They also provide guidance on how organizations can effectively tackle these challenges in order to attract and retain the necessary skills for their projects. 

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Key takeaways

Provide workers with needed resources

As they focus on building a resilient workforce, construction companies should revisit the education, health, and well-being resources they provide to their people, including their benefits package.

Support evolving career expectations

To attract young talent to the construction industry, organizations need to make a concerted effort to understand and adapt to evolving career expectations.

Data is critical to quantify potential losses and purchase adequate coverage

Statistical loss models can help organizations make more informed insurance coverage decisions, which is becoming increasingly critical amidst more challenging renewals and stricter lender or investor coverage requirements. 

About our speakers

Joao Buzio

Head of Global Contractors and Infrastructure Development, Marsh Risk

  • United Kingdom

Joao is currently Head of Global Contractor and Infrastructure Development at Marsh Specialty. With 20 years of experience in the construction sector, Joao is experienced in advising contractors and project teams in responding to their day-to-day and emerging risk management needs. Joao’s career started in 2004 through the Graduate Programme of Willis UK and its construction division working on projects around the globe for European contractors over that time. In 2016, Joao was hired by Marsh as Regional Construction Leader for Marsh Latin America and Caribbean (LAC) working with specialists in the region and in London to develop risk transfer and risk management solutions for construction projects, a position that Joao held for eight years.

Greg Hendrickson

Senior Principal, Health and Benefits Practice, Mercer

  • United States

Greg Hendrickson is a Senior Principal at Mercer and a Lead Consultant in Mercer’s Health & Benefits Practice. Based in Boston, he works with clients as a lead consultant and strategist, assisting employers as they develop total rewards strategy, helping them to attract and retain talent, and implementing programs to reduce bottom-line expenses tied to benefits, while also focusing on programs that increase employee productivity both at home and in the workplace — impacting top-line revenue growth.

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