A year ago I wrote a blog about the challenges facing the construction industry and the impact of high turnover rates and a shortage of workers. Finding and retaining qualified people remains a challenge.
According to the U.S. Bureau of Labor Statistics, Current Employment Statistics Highlights released in June of 2016 job growth averaged 25,000 per month for the 12 months ending in March.1 Construction firms are hiring—or at least trying to. Now more than ever they are faced with the challenge of finding qualified workers due to an aging workforce and the loss of skilled workers during the recession who have moved on to other fields and are unlikely to return.
The AGC of America’s 2016 Construction Hiring and Business Outlook notes that many firms report increasing pay and benefits to retain or recruit qualified staff. Contractors' assessment of the labor market remain similar to last year—after 12 months of increasing pay and benefits, contractors remain worried about the lack of qualified workers.2 “As demand for construction continues to grow, many of our members could go from not having enough work to not having enough workers,” said Stephen E. Sandherr, the association’s chief executive officer.
The staffing challenges facing the construction industry are real and require firms to improve their recruitment and retention practices. You can learn more about the latest trends in talent management by downloading this informative whitepaper, 5 Talent Management Trends to Expect in 2016, produced in cooperation with BirdDogHR and Spectrum Talent Management.
1 Bureau of Labor Statistics, Current Employment Statistics Survey, June 03, 2016.
2 Associated General Contractors of America, The Challenges Facing A Growing Industry: The 2016 Construction Hiring and Business Outlook, January 5, 2016