Why Women will make Construction Companies more $$ in the Long Run

In the global war for talent, every company is desperately looking for that edge on the competition. Infrastructure construction in Australia has a current and forecasted shortage of Engineers. In the war for talent, companies’ must do what they can to attract talent to their company in favour of the competition in order to have a competitive advantage and earn above average returns over the long term.

Engineering has historically been a career pathway pursued more often by men than by women. This blog will not try and theorise why this is the case. Instead, this blog will discuss how this fact has contributed to the skills shortage. Surely it is self-evident that if one is only drawing from half the population, the overall number of suitable candidates will be reduced.

Engineers Australia, Women in Construction and other organisations are already doing a fantastic job of increasing the number of women studying and pursuing a career in Engineering. As this trend continues, the future will see a far more balanced ratio of male to female engineers.

Putting aside the obvious moral and ethical value in having a more gender balanced workplace, let’s look purely from a strategic standpoint. The competitive advantage of the future in the context of the war for talent, is to have a company that is more attractive to women. Studies have shown that women are more likely to work for a company that;

-            Have women in senior and leadership positions,

-            Have family friendly provisions e.g. Parental leave, flexible working arrangement for return to work, and

-            Have a representative ratio of males to females throughout all departments.

These are attributes that a company cannot just turn on when needed. Instead, they need to be fostered over time, starting now! Hire the future female leaders in your company now to help develop the organisation women will want to work for in the future.

Key Take-Aways

The key take-away from this blog, is that the Women in Construction agenda is not just the right thing to do for the industry it’s the smart and strategic step for your company. While hiring the best person for the job should always remain the mantra of a profitable company, the long term strategy should also be considered.