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commandalkon.com | 26 19% of Gen Z employees reported that they are likely to quit organizations that don't encourage flexible working schedules. They are also tech-curious; with a whopping 91% of Gen Z employees reporting that they would be more attracted to organizations using sophisticated technology. A standardized way of working and up- to-date technology infrastructure is important to them. Organizations that aren't using standardized technology systems are likely to repel 42% of Millennials. The construction industry still relies on phone calls, paper tickets, and manual processes. As a result, payments are not made until several weeks after the work has been completed and invoices have to be submitted to even receive payment. While losing 41% of the workforce by 2031 is a blow, it's also an opportunity for companies to take bolder, more aggressive approaches in their investments in technology so that they not only attract the younger generation, but retain this new pool of talent as well. There's More To This Story Death by disruption occurs by a thousand cuts – damage that could have been avoided by modernizing to a digital tech stack. Although the road to digital transformation is not always easy, it is better — and less painful — than the alternative; an alternative that became reality for many construction companies when COVID-19 reared its ugly head and they had to basically plan their digital transformation strategies overnight. Even before the pandemic, stagnant productivity, low levels of digitization, and low profitability plagued the industry. Now, with the combination of COVID, new sustainability requirements, rising cost pressure, skilled labor shortage, new process approaches, and digital tools, companies are realizing that in order to maintain business continuity and stay competitive, digital backbones must be implemented into their operations. According to McKinsey & Company, R&D spending among the top 2,500 construction companies has risen globally by approximately 77% since 2013. Additionally, more than 50% of respondents' companies have increased their overall technology investments. The Break in the Clouds? Booming Technology Implementations Digitally collaborative technologies and tools that work on cloud-based desktops and mobile platforms provide clear insights into how materials and manpower are moving, placed, and working. The Infrastructure Bill poses a once in a lifetime opportunity to not only upgrade the country's infrastructure, but also to upgrade the tools and systems that we use to build our infrastructure. The old ways of working are no longer aligned with the new rules of success, and to close the gap between trading partners on projects, all industry players need to go digital. With the $65B investment in broadband access, production facilities that are located in rural areas do not have to rely on on-prem software that runs locally at the facility without requiring internet connection to operate. This is an opportunity for all players in the industry to take advantage of the latest and greatest technologies in cloud and mobile computing, rather than relying on on- prem software that does not provide a single source of truth to all trading partners. With more broadband access, the industry can accelerate the adoption of cloud and mobile computing and eliminate the limitation of data exchange amongst trading partners on a job. With sufficient accurate data, construction companies can easily compare projected profitability and efficiency to performance. Contractors can use the collected data to increase bidding accuracy by finding and calculating hidden costs. Data analysis of historical performance records can improve asset utilization. Time to Change Now The Infrastructure Investment and Jobs Act (IIJA) includes money for advanced digital construction management systems and related technologies. The program is funded at $20 million per year, for a total of $100 million, over five years. This funding is a clear indication of the critical role that technology will play in designing and building better, cost- effective infrastructure. A boom in U.S. construction will play a major role in reviving a battered global economy, and it's time to empower limited workers with solutions that help them to work more productively and avoid pitfalls and schedule delays to make the most of this investment. Tarun Nimmagadda serves as the VP of Product Strategy at Command Alkon. PREDICTIONS While it's estimated that the Infrastructure Bill will create 2 million jobs over the course of a decade, it's also estimated that the industry could face a shortage of at least two million workers through 2025, per data firm, Construction Industry Resources.

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