NAME: David DeSilva
NEW JOB TITLE: Alexandria, Virginia-based head of construction, Hartford Financial Services Group Inc.
PREVIOUS POSITION: Alexandria, Virginia-based regional vice president, Hartford Financial Services Group Inc.
INDUSTRY OUTLOOK: The construction industry is rapidly evolving. The current outlook remains strong. Architect and engineering firms tend to be an indicator of the near-term view. Currently, these firms continue to have a good influx of projects and work, which offers a positive outlook for the next 3-5 years. The recently passed infrastructure bill should provide substantial funding to assist the country in supporting future projects. As with any industry, there are some challenges that construction companies face. However, overall I am bullish on the future of the construction industry in our country.
GOALS FOR NEW POSITION: Talent. I am focused on making The Hartfords construction team a destination for talent. Well work together to bring out the best in each other, have meaningful career pathing discussions, offer clear and concise responsibilities within each role, and set each individual up for success. This includes diversifying our talent pool by adding teammates with different backgrounds and perspectives while making everyone feel welcome. This is followed closely by creating additional efficiencies, empowering our teammates to do their best work, as well as developing sustainable internal and external relationships. Taking care of these items will assist in providing direction and helping us meet our organizational objectives.
CHALLENGES FACING THE INDUSTRY: There are three major issues that keep me up at night labor, materials and litigation. There is a lack of skilled and experienced workers in the construction industry. Most construction firms need workers to keep up with project demands and complete jobs on time. Workers are leaving the construction industry to take jobs in less labor-intensive sectors, and the industry faces an aging workforce, which has downstream impactions on cost. The supply-chain issues continue to impact timeliness of job completion, construction sequence on site, and the bottom line. Challenges with obtaining materials are also commonplace, and when/if materials are available, they cost more. Labor and supply are two main drivers in margin suppression and continue to filter down through other aspects of the balance sheet. Outside of labor and materials, litigation is another hurdle in todays environment, with lawsuits on the rise and a backlog of court cases coming up.
FIRST EXPERIENCE IN THE INDUSTRY JOB MARKET: I began my career in physical therapy and transitioned into insurance shortly after. My first insurance role was a small commercial underwriter. Many folks think of insurance as cold-calling prospects, but its much more than that. Insurance provides many different career avenues including underwriting, claims, risk engineering, data analytics, operations and actuarial, just to name a few.
ADVICE: Execute the basics better than anyone else. Simple things go a long way. Be respectful of others time, have an agenda and prepare for meetings, send follow-up notes and follow through on your commitments. Those who execute the fundamentals will be successful.
OUTSIDE THE INDUSTRY, A DREAM JOB: Im a huge baseball fan. If I wasnt in insurance, I would coach baseball for a living. I played in college and coached amateur baseball, including collegiate summer league for about 10 years. I attribute much of my professional success to the discipline, hard work, time management and organization that I learned from my coaches. Coaching afforded me the chance to give back to a sports community that gave so much to me.
COLLEGE MAJOR: I majored in physical education, with a minor in business administration and earned my MBA following undergrad.
LOOKING FORWARD TO: I am passionate about coaching, teaching and developing talent. This new role provides me the opportunity to do those things on a larger scale. I am excited about finding pockets of success and replicating those across the teams and the country.
FAVOURITE MEAL: I am a glutton for a quality steak with potatoes.
BOOK: Start with Why, by Simon Sinek. Its a thought-provoking read challenging us to understand the WHY behind our actions.
HOBBIES: I spend most of my free time with my family. We enjoy getting outdoors, dining at new restaurants and vacationing at the beach. Our large family celebrates all the holidays, milestones and birthdays together.
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ON A SATURDAY AFTERNOON:
