Some of the most impactful dates that come frequently to my mind include, in no particular order: the fall of the Berlin Wall, the Challenger explosion, President Ronald Reagan being shot, 9-11, my marriage, graduation day from college, the births of our three children, the Great Recession, and the retirement of my business partner, Ed Sauter. One of two things happens when I am reminded of an important date. The first is my memory value differs vastly from someone else—most often because I lived through it while another person only read or heard about it. The second is that what seems “only yesterday” is significantly distanced by time. Thirty years in this industry and more than a half century of life will do that to you.

The memory muscle tensing right now for many as the economy continues to slow, is the impact of the Great Recession. While 2022 has been a productive and successful year for nearly everyone in the construction industry, the last two months have been marked by a sharp or drastic shift in construction activity for many. A decade and a half ago, this type of sudden change in the economy brought the longest period of stress for most construction companies in our collective histories. It forced deep and drastic changes to operations, size, and structure. Perhaps more importantly, it altered the business psyche, or confidence, and perhaps established a promise to never get caught holding out hope again.

This past July we heard from our membership program partner ITR Economics that the economy would continue to put on the brakes, but it would result in a “soft landing.” While this is proving to be more or less true nationally, this means something different for each of us. It is equally true that the reality of a term like “soft landing” will only be validated once it is over. In the moment, amid this economic slide, the muscle-memory reaction might be to panic, to tighten, to reduce… maybe even to drastically cut, so as to never again be faced with the financial loss incurred a decade and a half ago.

I am thankful that, while this is the trained muscle reaction, the Board and I agree now is the time to pour coals to the fire. We must continue to innovate, encourage vision, develop and strengthen why it is your company stepped into this professional network. Right now, you need more access to information, shared confidence and lament, training programs, and relevant education. During this time when the economy is expressing sluggishness to shift, what you cannot afford to lose is the workforce you have built. Our focus is delivering membership value that helps you prove that your company is a luxury to work for in this landscape of instant gratification. Take up the challenge to pursue, continue to invest in, and validate your leaders and your workforce with training, collaboration, and career path movement. It will produce for you in this liminal moment a professional and positive respect and leave you with a more advanced, finely tuned, and loyal—or at the very least invested—culture. It starts with you, however, member or non-member, asking us for more information.