The global economy could be facing a severe shortage of skilled contractors if some of the upcoming planned megaprojects come to fruition, according to CXC Global.

With a range of transport and infrastructure projects in the pipeline across the globe, there could be considerable demand for expert contractors in the near future to make them happen. However, the contractor management specialist has warned that if even a small percentage of these projects do take place, it could potentially lead to a severe shortage of skilled professionals. Michelle Reilly managing director of CXC Global commented: “Let’s not pretend that this is an immediate concern, the projects that we’re talking about are long-term and will take a number of years to complete, and that’s if they’re even commissioned. However, if even a small number do take place concurrently there could be real stress placed on the contracting market, particularly within sectors such as engineering and construction.

Reports of the planned TERP (Trans Eurasian Belt Development) rail and road link that could connect Russia and Alaska are unlikely to become reality anytime soon. However, schemes such as the Delhi-Mumbai industrial corridor and Centenary City in Nigeria – that are already underway – and projects closer to home such as the development of the HS2 rail line and the London airport expansion will require a huge number of specialists and this could prove challenging for the contracting market. Firms in the Middle East and Asia, in particular, will need to hire huge numbers of skilled contractors and there’s only a finite supply of these professionals around. We’d urge businesses to revaluate the effectiveness of their talent pipelines and look to plan to the future to ensure that they’re not the ones suffering when the shortage of talent clicks in.”