Cushman & Wakefield Release 2026 Construction Outlook

- The 2026 construction landscape is heavily influenced by technology, with Building Information Modeling (BIM) expected to be used in approximately 65% of projects worldwide. Virtual and augmented reality are also gaining traction, helping teams to identify design issues and reduce rework before construction begins. - Key industry challenges expected to persist through 2026 include ongoing labor shortages as Baby Boomers retire and material price volatility for items like steel, aluminum, and timber due to supply chain and tariff issues. - For business majors, transferable skills that are highly valued in construction management include financial acumen for budgeting, negotiation skills for contracts, and strong communication for managing diverse stakeholders like clients, subcontractors, and suppliers. - Entry-level pathways into the industry for those without direct construction experience often start in roles like Project Coordinator, Field Engineer, or Assistant Construction Manager, where they can learn from seasoned managers. Some universities offer business degrees with a specific concentration in construction management, which can make graduates more competitive for these roles. - In interviews, candidates with a business background should emphasize their ability to manage budgets, analyze performance data, and lead teams—framing these as essential for delivering projects on time and within budget. Highlighting proficiency in project management software and a willingness to learn the technical aspects of construction is also crucial. - Business development in construction is focused on building strategic relationships and identifying long-term opportunities rather than just sales. Professionals in this area are responsible for feeding the company with new projects and partnerships. - Top construction firms in the U.S. by revenue include Bechtel, Turner Construction, and Kiewit Corporation, all of which manage large-scale, complex projects across various sectors like healthcare, infrastructure, and commercial building. - The B2B sales process in construction involves several key stages: prospecting for new opportunities, qualifying leads to ensure they are viable projects, submitting detailed proposals and estimates, and negotiating contracts. Success in this area often relies on selling the value of a company's services rather than competing solely on price.