The AEC market is growing rapidly, expected to reach $10.5 trillion by 2023. However, the industry is still plagued by numerous roadblocks, such as economic uncertainties, supply chain bottlenecks, high equipment costs, etc. Further, resourcing challenges such as skill gaps, attrition, aging workforce, etc., also adversely affect construction firms.
Without effective solutions, these resourcing bottlenecks can cause budget or schedule overruns and lead to project failure, thereby impacting the firms’ financial health. Therefore, organizations must implement appropriate measures to mitigate these challenges and remain profitable.
