The industry is facing a number of changes, from a new focus on workforce and employee well-being to greater adoption of technology. Construction and real estate respondents ranked retaining key employees ahead of the general survey sample, which is not surprising given the industry’s aging workforce and the difficulty in attracting new talent from younger generations.
While many construction organizations are accelerating their digital and technology innovating efforts, they remain behind the general survey results when ranking its importance. However, the impact of the pandemic, along with climate change, may serve as a catalyst for change. There is also increased pressure from investors and other stakeholders to respond to uphold higher environmental, social and corporate governance (ESG) standards, which may further impact the industry and their risk management approaches.
Full results
Construction and Real Estate
Future Shocks
1. Economic disruption
2. Another health crisis / pandemic
3. Climate change
4. Business model disruption
5. Technological disruption
51%
15%
6%
28%
Our business has been severely impacted and will take significant time to recover
Our business has been impacted, but we are unsure of the long-term impact
Our business has been impacted, but has been resilient
Our business has remained steady during COVID-19 with little impact
Impact Severity