Property Casualty 360Willis Towers Watson recently launched its Construction Risk Index, a boardroom view of the industry as seen by 350 senior executives from across the globe. As part of this comprehensive study, they asked the executives to rank the greatest threats to their businesses — both today and 10 years from now. They were asked about their attitudes toward 50 specific risks from five megatrends. The result offers a deep look into the concerns and expectations of construction leaders and highlights the most significant megatrends that will shape the future of the industry.
The biggest concern for construction executives are the geopolitical instability and regulatory changes. This risk is among the top three in every region except North America. In North America, capital availability, funding and liquidity ranked as the greatest threat.
The top five megatrends construction executives are concerned with are:
- Geopolitical instability and regulatory change
- Workforce management and talent optimization
- Business model and strategy challenges
- Risks resulting from digitalization and new technology
- Complex operating models in a global business landscape