Supply chain disruptions and delayed projects are not the only things hindering the growth of the construction industry. The Home Builders Institute cites “a lack of skilled construction labor” as the key limiting factor to the industry’s growth. They report that the construction industry needs 61,000 new workers per month over the next three years to meet demand — a staggering 2.2 million workers from 2022 through 2024.
With a surplus of work to be done and a shortage of workers to do it, how can you attract and retain laborers amid today’s tough market conditions?
Just as the origins of the labor shortage are complex, so are the solutions. As an individual employer, you can only do your best to mitigate the effects of the labor shortage on your business. Showcase what makes your business a special place to work and look for talent in unexpected places. Be thoughtful and considerate, and don’t be afraid to step outside of the box.