The construction industry is considered one of the strongest regarding growth and revenue. In the United States alone, there are over three million construction companies, and this number is expected to grow in the years to come.
Market-wise, the U.S. construction sector was valued at USD1.6 trillion in 2021, and it’s predicted to reach up to USD14.4 trillion in 2030. Construction is a thriving sector, and because of this, it’s crucial for companies to carefully select their leaders and decision-makers to keep their competitive edge.
The C-suite or Chief Officers in a construction company make the most significant decisions that form the organization’s and its members’ future. Their roles are the most influential and respected in the enterprise, and they’re considered experts in their respective fields.
Because of their crucial position in the company, hiring for C-suite executive roles can be challenging for the recruitment manager and their teams. However, it’s vital to follow an effective hiring process and attract top-notch talent to benefit the enterprise.
If you’d like to know more about C-suite positions in the construction industry, continue reading this article.
C-Suite Positions In Construction
Many construction companies follow a hierarchy of executives, with the top-most roles tasked with decision-making and overseeing general operations. The following are the C-suite positions, which are critical roles in many organizations in the construction industry.
- Chief Executive Officer
The chief executive officer (CEO) is usually the highest role in a construction company. The CEO’s primary function is to oversee the business’s day-to-day operations. The chief executive is also considered the face of the organization. The role entails meeting with clients and facing stakeholders such as the board of directors and investors.
- Chief Financial Officer
What does a construction CFO do? A chief financial officer or CFO’s primary role is to design and review financial strategies for the company. In the construction industry, CFOs are also in charge of accounting, job costing, project management, and other functions.
- Chief Operations Officer
The chief operations officer (COO) usually has similar responsibilities as the CEO, though the role is considered second-in-command to the chief executive. The COO usually handles internal affairs, while the CEO is more active in client-facing tasks.
- Chief Information Officer
The chief information officer, or CIO, is primarily responsible for the information and technology systems in the company. This role has many variations, including Information Technology Director and Chief Digital Information Officer or CDIO.
The CIO is in charge of implementing company policies related to data security, electronic gadgets usage, and network permissions.
- Chief Sales Officer
The Chief Sales Officer is another one of the high-ranking company executives. The CSO heads the sales department and leads all sales activities and income-generation efforts. The objective of the CSO is to attain sales targets and optimize the company’s revenues. Also, they perform an analytical role where they evaluate the effectiveness of sales campaigns and strategies.
- Chief Tax Officer
A chief tax officer or CTO determines the tax liabilities of the organization. They also oversee the processes involved in tax statement preparations.
Depending on the size of the organization, its structure, and its scope of operations, there could be other C-suite positions that manage the following departments:
- Human Resource
- Compliance
- Security
- Analytics
- Marketing
While C-suite executives have different focus areas, they also work together under the CEO to address urgent issues and other matters affecting the company’s performance.
Tips On Hiring C-Suite Construction Executives
Recruiting top-notch talents comes with different challenges. Companies often need to compete with each other to attract the best in the industry. You may find the following tips helpful when hiring C-suite executives:
- Determine the critical role positions that you’d like to fill first.
- Create a recruitment strategy that would attract the best talents in the industry.
- Enhance the efficiency and effectiveness of your recruitment process.
- Prepare a clear job description that outlines the responsibilities of the position while demonstrating the values you’re looking for in an ideal candidate.
Your ability to hire the finest talents depends on how you present your company culture, values, and vision. By giving the candidates a clear idea of who you are as an organization, they can determine whether joining your team would be an advantage to them and their goals as a professional.
Conclusion
Hiring employees for executive roles will allow you to meet the best of the best in the construction industry. If you prioritize experience and expertise, you’ll find many who’d fit the description.
However, you’ll also need to consider if the candidate would be an excellent fit for your organization based on character, values, and attitude. The best hire would be one who can perform well in their function and be a great team player.