The industry is suffering from skills shortages and labour needs to be increasingly mobile. There has been an under investment in quality management and training; incentivisation is typically unsophisticated. Competing in the global market and winning contracts overseas means moving people around the globe – whether it be for a few weeks to win a cross-border contract or for many years in order to deliver work. All the indications are that this trend is set to increase significantly. At the same time, many E&C companies, like their peers in many other industries, are focusing on the importance of proactively managing talent. Recruiting, rewarding and retaining top talent is vital, given the profound skills shortages across the industry.
How PwC can help you
PwC advice on people in the sector is multidisciplinary. With our tax practice, we advise on the international mobility strategies, as companies seek to get the right people on projects around the world. Our advice – to companies and high net worth individuals – includes tax structuring advice within the human resources function. Within our Human Resource Services practice, we advise companies on their recruitment, retention and reward strategies in order to help the industry attract talent and retain a highly skilled workforce. Following industry transactions, we also advise companies on their change management and people strategies post-merger.