It’s become common knowledge that today’s Construction industry is falling short in attracting and retaining a workforce that matches the complexity and demand of the current economic environment. There appears to be a distinct lack of human capital in the construction industry as whole, spanning from field labor and all the way up to management. The immediate effects of this shortage are already visible in troubled projects, troubled businesses, and rising insurance claims.
We will soon see this affect the upfront cost of construction and schedule, as contractors attempt to hedge the additional risk they are assuming by committing to project delivery in an uncertain labor environment. The longer term effects could even threaten the viability of our industry for future generations, and by extension our lifestyle, e.g. a depressed construction industry means limited new structures in which to live, work, and play, and current structures falling into disrepair. It’s no zombie apocalypse, but a slow decline could eventually weaken one of our most iconic American business models.
What are the factors that contributed to this situation? How can we address these issues and keep our industry thriving? Let’s take a look at the current status of our human capital, and consider some viable solutions to reboot the construction industry for a better tomorrow.
Sounding the alarm: Wildfire exposure and prevention in construction
February 25, 2020
We know certain types of construction carry inherent fire risks – wood frame construction is one such type. Building materials stored onsite can pose a fire risk. But what happens when the risk of fire and its resultant damage spreads beyond the jobsite. What happens when a single spark from a grinder,
Constructive Conversations: Helping clients tackle the labor challenge
March 25, 2019
The construction industry faces growing labor challenges. From a shortage of skilled labor to aging workers, this tight talent situation can impact jobsite safety, the rate and severity of injuries, and ultimately, a firm’s bottom line. AXA XL’s Gary Kaplan explores these issues, shares how
Constructive Conversations: Talent development and building an empowered team
February 08, 2019
In today’s tight US labor market, the competition for top talent is impacting every industry. From Construction to Consulting and from Insurance to IT, companies recognize that their people can be their biggest differentiator with customers. For Justin Gress, North America Construction, attracting