The ongoing labor shortage in the construction industry has ripple effects and has sparked conversations about how to attract and retain a workforce.
In that vein, a company called Teletrac Navman, “a global software-as-a-service provider that leverages location-based technology for GPS tracking solutions,” this past week announced findings from its Telematics Benchmark Report: Global Construction Edition.
The survey found 42% of organizations are experiencing a talent shortage – something that should come as no shock to construction executives and others who have tracked the trends in the industry.
This survey also found more companies are taking aggressive action to compete for talent, including 50% boosting pay for workers, 35% offering better benefits, and nearly 30% that are providing “flexible work arrangements.”
“Despite the hype around autonomous vehicles and artificial intelligence, our survey found fewer than half of organizations are investing in emerging technologies this year,” said Mika Majapuro, Director, Project Management & Strategy, Teletrac Navman.
“When they do invest in it, they seek more practical, safety-oriented solutions like driver alerting technology that will improve operations immediately rather than long-term, ‘futuristic’ technology. In this case, the technology they’re investing in per the report is also a powerful talent retention tool, as operators want to work for companies that invest in their well-being.”
You can see the entire report by clicking here.