According to the U.S. Chamber of Commerce, nine out of 10 U.S. contractors report skilled labor shortages. Yet, cities such as Atlanta, Houston and Nashville, Tennessee, seem to be permanently under construction. There are simply not enough qualified employees to fill the ever-growing number of projects.
Before the 2008 recession, there were 7.7 million construction workers; today there are 7.1 million—meaning 600,000 workers have not returned to the industry. Slow population growth and an aging workforce also have contributed to the lack of available labor.
Following are six risk management strategies construction companies should consider as they face today’s workforce challenges.
Reprinted courtesy of John Wagner, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.