It’s no secret that the construction industry is facing a labor shortage. The pandemic has exasperated the situation but labor shortages are nothing new for the industry. Since the homebuilding boom of the early 2000s, a lack of labor has become the norm. With an aging pool of skilled workers and a huge demand for labor, the shortage has reached a new level with roughly 25% more unfilled construction positions than hires.
Construction companies must be more strategic than ever before in order to maximize their current workforces and predict labor capacity for the future. It’s a difficult job because of inefficient manual processes that silo data, making it hard to collaborate. In a survey done by Bridgit, 70% of the GCs said they are planning their workforce less than two months in advance. Additionally, 46% said that they don’t have adequate time to hire when the project needs it.
These statistics point to a reactive business model that leaves contractors rushing to fill gaps, project delays due to lack of labor, and employees that may not be a good fit for the company.
Being proactive and having insight into your workforce months or years in advance can mitigate these problems, and prepare contractors to handle constraints as they arise.