Sentinel Risk Advisors’ Harrison Barnes on the Carolinas’ Construction Industry

GroundBreak Carolinas is pleased to share thoughts and insights from key leaders in the construction industry from North Carolina and South Carolina. Harrison Barnes, Sentinel Risk Advisors,shares his thoughts on the construction industry:

What are your thoughts on the Carolina Construction economy in 2019?
From our vantage point, all observations and indications forecast a robust construction economy for 2019. Project calendars are full, many of our clients and prospective clients have a backlog of work, and surety activity (a key indicator of industry strength and performance) remains up.

What are your company’s biggest challenges?
Our primary challenge is convincing owners and employers the path to the future is proactively managing (versus merely reacting to) risk. We engage in a rapidly changing world and the practice of risk management must keep pace if we are to truly serve the best interest(s) of our clients. Emerging risks in the construction space, such as increased and more sophisticated technology utilization, and the impact of skilled labor shortages on hiring practices as well as training protocols and programs, must be identified and addressed. It is those in the field who not only recognize, but embrace these changes, and subsequently embrace more strategic risk management approaches, who will be best positioned to not only overcome challenges but seize upon opportunities for growth.

What are your hiring plans for 2019?
With five offices located throughout the Carolinas, we are focused on growth, and we are always on the lookout for talented individuals to join our team.

What change would you like to see in construction in the Carolinas?
There are a lot of segmented efforts to address the labor shortage, both in the public and private sector. However, it remains an ever-growing problem with no simple fixes, and a more collective and coordinated effort by all those with a vested interest in the construction industry might reap more effective results.

Harrison Barnes can be reached at: hbarnes@sentinelra.com
More information on Sentinel Risk Advisors can be found here.