Retaining Talent and Developing Careers in the Construction Industry
Labour shortages are becoming more prevalent in today’s construction industry, and companies need to focus on corporate culture, engagement and work-life quality to attract and retain good people.
With Millennials (individuals born between 1980 and 2000) now making up 34 percent of the nation’s workforce—a number that is expected to grow to 50 percent by 2020—construction companies are faced with the even greater challenge of attracting and retaining a dynamic, young workforce.
These young people are looking to add value, make an impact and find meaning in what they do. They also want to learn, improve and advance quickly through an organization and understand available career advancement opportunities.
Are employers missing the mark when it comes to employee engagement in the construction workforce?
Offering competitive pay is important—perhaps even a prerequisite in today’s tight labour market—but beyond that, companies must present opportunity to their employees in a strategic and compelling way. If that training isn’t part of a well-planned career development program, then it quickly becomes an expensive and time-consuming exercise for everyone involved.
“The beauty of construction is the rich mix of opportunities on offer, spanning more than 150 different professions with tens of thousands of apprenticeship places available”
A powerhouse within the UK economy, the construction sector employs up to 10 per cent of the working population and will need 46,000 new workers each year for the next five years. In the war for talent, every employer, whatever their business, obviously wants to recruit and retain good people.
The best advice is to listen to what your employees want and never just assume, as Millennials look for more than just money.