Labor shortages will continue to affect contractors
The Associated General Contractors of America recently surveyed its members regarding their outlook for 2024. Although 77% of respondents said they have a difficult time filling salaried or hourly craftworker positions, 69% said they still plan to increase staffing to meet demand, according to Construction Dive.
In 14 of 17 sectors, respondents anticipated the dollar value of projects they compete for to increase in 2024 compared with 2023. When asked about biggest concerns for 2024, 64% of respondents indicated concern about rising interest rates or financing costs; 62% said economic slowdown or recession; 58% said rising direct labor costs; 56% said insufficient supply of workers or subcontractors; 56% said worker quality; and 54% said material costs.
To recruit and retain more workers, nearly two-thirds of survey respondents increased base pay in 2023 more than they had the previous year, and 25% introduced or increased incentives or bonuses.
Regarding recruitment and retention, Lynn Hansen, CEO of Crowder Constructors, Charlotte, N.C., said in a recent webinar that younger workers value more flexibility and time off, and her company intends to invest more in technology to attract workers.
The survey is available at agc.org.
Survey shows workers are more satisfied with compensation
In a recent analysis of worker retention, researchers with Eagle Hill Consulting, Arlington, Va., factored in worker opinions regarding levels of compensation, job market prospects, workplace culture and overall confidence in their organizations. Although the firm’s retention index dropped from 103.1 points to 94.5 points between quarters one and four of 2023, the rate of satisfaction with compensation increased, according to HR Dive.
Fifty percent of respondents indicated they feel connected to their organizations’ cultures; 49% are confident in their companies’ futures; 40% feel they have better opportunities outside of their current companies; and 37% believe they have a path to increase their compensation at their organizations.
Researchers suggested economic uncertainty throughout 2023 may have reframed workers’ perceptions of pay, resulting in more positive sentiments about compensation. Financial well-being is one of the main projected 2024 workplace trends, along with artificial intelligence and worker mental health.
Eagle Hill Consulting’s retention index is available at eaglehillconsulting.com/employee-retention-index.
How to approach rainy day training
Contractors in the roofing industry often wait for rainy days to train as it does not distract from production and helps maintain payroll for employees who otherwise would not get paid for that time.
However, the training time is typically not used well. Following are tips to help contractors get the most out of rainy day training:
Rainy day training is not the best way to approach an overall training strategy, but it can be productive time when you are prepared.
Visit nrca.net/workforce-development/training for information about NRCA’s training opportunities.
Roof underlayment course aimed at architects
NRCA member Westlake Royal Roofing Solutions, Laguna Niguel, Calif., has launched a continuing education course for architects regarding roof underlayments.
The course, “The Importance of Roof Underlayment for Energy Efficiency and Fire Resistance,” explores the roof underlayment as an integral part of the total roof system design and educates architects about the performance, benefits, fire resistance and weather resilience of various underlayment types.
The course will focus on four key learning objectives: the holistic approach to roof system design and the critical role of underlayment; roof material covering types to ensure the appropriate specification of a compatible underlayment that optimizes performance; the various categories and performance attributes of each underlayment; and the advantages of premium underlayment products, including the important components needed to install a high-performance roof system.
The course can be accessed at Hanley Wood University, Washington, D.C., and through The American Institute of Architects, Washington, D.C. To read about NRCA’s courses and other educational opportunities, see “Recruit and retain.”
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