The construction industry is facing a significant shortage of workers. According to ABC earlier this year, “the construction industry will need to attract an estimated 546,000 additional workers on top of the normal pace of hiring in 2023 to meet the demand for labor…” To address this challenge, contractors must adopt a multi-pronged solution to attract and retain talent while maximizing productivity.
“An added concern is the decline in the number of construction workers ages 25-54, which fell 8% over the past decade. Meanwhile, the share of older workers exiting the workforce soared,” said ABC Chief Economist Anirban Basu in February of 2022. “According to the Centers for Disease Control and Prevention, the industry’s average age of retirement is 61, and more than 1 in 5 construction workers are currently older than 55.”
The article “4 Technologies to Attract, Retain Talent in 2023” in ForConstructionPros.com says “more than inflation, supply chain, or governmental policies and regulations, labor shortages will be the defining challenge of the construction economy” and suggests four technologies to help solve labor challenges. “By offering technology solutions, businesses may be able to widen the pool of talent, especially for hard-to-fill roles.” The four technologies include:
- Attracting and expanding the talent pool with semi-autonomous technology
- Accelerating expertise with machine control
- Reducing safety risks through surveys and mobile job site mapping
- Maximizing uptime productivity through enhanced communications
By adopting technologies like semi-autonomous equipment, machine control, safety surveys and mobile job site mapping, and enhanced communications, contractors can better address labor challenges and help bridge the industry's talent gap.