Contract Surety

500,000 New Workers Right Now?



That’s the number of new workers the Associated Builders and Contractors (ABC) estimates are needed to keep construction moving—just this year. To overcome the shortage, and thrive for the go forward, it’s critical to attract, leverage and retain a force of tech savvy workers.


Operational Efficiency

Although the labor shortage is nothing new, the scurry for workers needed just to keep current projects going, underscores the importance of sustainable solutions, including the capacity to leverage technology for operational efficiency. As Adam Stark of Jet.Build points out, strategic approaches to solving the labor shortage require a focus on recruiting more tech savvy workers:


Nearly one-quarter of construction workers are older than 55, making an imminent retirement wave a threat to several priorities, including expanding access to affordable housing and community development. Finding qualified professionals to take their places won’t be easy…. Just to keep up with demand, ABC estimates that the U.S. construction sector will need to attract 500,000 new workers this year. What’s more, with construction jobs increasingly requiring advanced technological skills, companies will need to upskill and retool a significant portion of their existing workforce … .In other words, the construction sector’s talent shortage is more than just a hiring issue. It’s a holistic rethinking of their workforce, requiring more and more skilled employees … .While no single solution will address this challenge completely, technology advancements can play a critical role in empowering and rejuvenating the construction sector workforce…..Technology addresses immediate workforce gaps and plays a crucial role in long-term industry productivity….

Toward propelling into the future, in addition to the all out effort to integrate “the latest technologies into modern construction workflows,” companies need to be actively partnering with educational institutions to put students who are both tech-natives and AI natives on a path into construction:

To engage a younger, tech-centric talent pool, the construction sector and local companies should consider developing internship programs and other partnerships with universities that offer courses related to the construction industry, such as construction management, real estate development, architecture, and engineering. Collaborating with universities and community-based educational initiatives allows construction entities to take advantage of the school’s efforts to attract students and promote internships and career opportunities….This approach helps companies engage students who are already interested…and might be looking for real-world applications for their studies.


When interacting with students, whether through internships or speaking engagements at universities, showcase the use of modern technology in projects and operations. By demonstrating the use of advanced tech stacks and digital solutions, rather than outdated software or manual processes, construction companies are actively engaging their future talent, proving that it is appealing and compelling to the next generation of construction professionals.


Investing In Success

In addition to creating pipelines to attract tech savvy workers from educational settings into construction, wise business leaders also know having a solid onboarding process is essential: “Employees who had effective onboarding feel up to 18x more commitment to their workplace, compared to employees who feel their onboarding was less effective.This heightened commitment translates into all kinds of benefits for employers, including longer employee tenures….” One specific technique that can be powerful during onboarding and beyond is assigning a mentor for new hires. In addition to giving a long-time employee a vested interest in the success of a new hire, you’ll be ensuring the new employee feels welcomed from day one. Teaming diverse workers who have different experiences, sometimes referred to as reciprocal mentoring, is another proven way to contribute to both jobsite success and worker satisfaction


As important as it is to have a robust, well thought out and consistently implemented recruiting and hiring processes, so too is adopting a best in class approach to ensuring employees want to continue working for you. Indeed, now more than ever, retaining skilled workers is a “cornerstone” of running a successful business


Partnering For The Win

Teamwork is the secret sauce of most success stories—and Colonial Surety is here to help you succeed. Once qualified for The Partnership Account®, you’ll use our power of attorney to issue your own bid bonds, in minutes. Order performance and payment bonds with speed and ease too. Plus, you’ll run your business more efficiently and competitively than ever as you leverage your:



  • surety line of credit—in writing;
  • private digital dashboard;
  • daily snapshot of single and aggregate limits 
  • ability to update work on hand—and increase your aggregate.



Get started right now—and get your free financial scores too:


Pre-Qualify for The Partnership Account® for Contractors


Founded in 1930, Colonial Surety Company is a leading direct seller and writer of surety bonds and insurance products across the USA. Colonial is rated “A Excellent” by A.M. Best Company and U.S. Treasury listed. Let’s connect today: Colonial Surety.