The good news:
The U.S. Bureau of Labor Statistics recently reported that as of December the unemployment rate was unchanged at 5.0 percent. The construction industry showed strong job growth for the third consecutive month, gaining 45,000 jobs in December.
The bad news:
- It’s an increasingly competitive marketplace due to talent shortages
- There will be an increase in wages
- Signing bonuses will become more common
- It will take you longer to make a hire
Do you have a strategic hiring plan for 2016? If you take the “win a bid and cross your fingers” approach to hiring you’re already losing.
“Your #1 priority for 2016 should be YOUR WORKFORCE”
We are not making this stuff up. According to the AGC’s recent 2016 Construction Outlook Survey Results for Massachusetts there are a number of areas of concern for MA construction firms:
- 82% of respondents expect their headcount to INCREASE BY 1 – 25%
- 31% of respondents said they have a hard time filling key salaried positions
- 50% said that it will continue to be hard to find qualified construction professionals
- 47% said worker quality will be the biggest concern to their business
- 27% said worker shortages will be the biggest concern to their business
- 53% have increased base pay to retain or recruit salaried staff
- 47% have provided incentives/bonuses to retain or recruit salaried staff
- 40% have increased contributions and or/employee benefits
- 7% have paid more overtime to retain or recruit salaried staff
We recommend focusing on these 3 areas:
According to CareerBuilder, to keep their New Year’s resolution, 34% of employees are regularly searching for job opportunities, even though they’re currently employed. Don’t let your people be recruited.
- NEW HIRES
Consider this startling fact. The AGC.org surveyed more than 1,500 firms from around the country and 63% of the participants indicated that they will be increasing their workforce by up to 25%. That means your competitors are coming for your best employees on a daily basis.
- EMPLOYER BRANDING
What are you doing to bring your company brand to “life” in the most important recruiting call-to-action there is? → APPLY NOW
Attracting and hiring candidates has become so competitive, that B and C grade candidates are being paid ridiculous amounts of money to fill empty seats and your clients are paying for it.
If you don’t have Construction Recruiters, Inc. as your strategic partner seeking top talent for your team, then do your company a favor and hire one of our specialized construction recruiting competitors instead. Yes, you read that right! Because, if you don’t have a well-connected specialty recruiting company working for you, your odds of being able to source, recruit and qualify top talent is minimal to none. You are not only competing with your direct competitors for talent, you are also competiting with recruiting firms who will be placing those same candidates with your competitors.
The construction market is hot HOWEVER the available candidate market is not. Your number one job for 2016 is to acquire top talent to service your clients and we can help you do that.
Call me. 617.422.0888