With engineering and construction unemployment rates at a record low, you should start thinking about hiring now. In other markets, you may have been able to wait to start the hiring process and it wouldn’t be the end of the world, but in this employment environment there’s no room to procrastinate.
Record High Construction Activity
The demand for construction projects has been higher than usual in 2018 and 2019. Businesses are building new offices, families are buying new houses, entrepreneurs are investing in new restaurants. People are looking to grow and diversify their businesses, which has a huge impact on the demand for construction developments. While in the coming years, construction growth will likely level out, the market is expected to stay strong. Civil infrastructure and energy and power infrastructure are especially in high demand. The high demand for construction means there is also a high demand for skilled construction and engineering professionals.
The Talent Shortage
There aren’t enough people with the right skill sets to meet the high demand of construction projects right now. The talent shortage is a major problem. Many firms struggle to meet deadlines because they don’t have the staff to complete projects on time. The constructions firms that will have the most success are the ones who can attract and retain talent. In this competitive employment market, the best way to accomplish this is to be proactive in your hiring process. You should always be interviewing candidates, reflecting on your retention strategies, and thinking about hiring. To increase your appeal to professionals, emphasize your strong company culture and the candidates career path they’ll see by joining your team. It also helps if you’re able to offer a strong compensation and benefits package and showcase career development paths.
You can’t wait to start worrying about hiring until you’re desperate. You should be continuously scouting for the best talent. When the market is this strong, the best way to grow your business is to have a team of skilled employees who can meet the expectations for quality, budget, and turnover. This is a candidate-driven market. If you wait until you need to hire someone to start interviewing candidates, it’s going to end up taking a substantial amount of time to find the right talent for your team. There’s also a very good chance that you’ll end up making a bad hire. Instead, you should be always interviewing candidates. It’s the only way to maintain an edge. Working with a recruiter with a highly successful background, also helps. These top construction industry recruiters will give you the upper hand over your competition by giving you access to passive candidates. Plus, these recruiters have laser focus that will allow you to streamline your hiring process.
Because of the strength of the construction market and the current talent crisis, you can’t afford to procrastinate. Now’s the time to make money and reap the benefits of this great economy. Like past booms, this will end one day. You need a skilled and reliable team if you expect to maximize your firm’s potential in this record-breaking construction spending market. I believe the key to maximize success is to continuously search for and hire the very best talent.
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