Despite the many challenges of working in construction, employees are fairly happy these days. In fact, a recent survey found that construction “tops a list” of fields in which workers are overall quite content. Here’s why–and what to look out for as some signals of discontent are bubbling up.
Rising Wages, Plentiful Jobs
With the demand for construction workers strong, there are plenty of jobs to be found, and pay has been rising in the race to attract and retain new workers. As a result, employees in the industry report contentment–though that does not mean contractors can rest easy. As Construction Dive reports:
The construction industry tops a list of sectors with the happiest workforces, according to a new report from Bamboo HR. The human resources tech company measured the Employee Net Promoter Score at over 1,600 companies, calculating how likely workers were to recommend their organization as a place to work over the last three years.
The report attributed construction workers’ happiness to rising wages and numerous job opportunities, but also predicted the labor shortage will put pressure on existing employees in the months ahead. It suggested HR pros focus on recruiting and training less experienced workers. Recruiters should also keep an eye out for discontent, the report found. From January to May this year, happiness dropped 81% — a sharper drop than the 13% decrease from 2020 through the present, which the report attributed to the pressure from staffing issues.
Of course topping a “happy” list does not mean life in the building business is like a trip to Disney. Indeed, the disruptions of Covid-19 and inflation have created challenges across industries, with employee satisfaction fluctuating across the board. Meanwhile, data continues to reflect the hazards of working in construction, as well as the “high suicide rate and high overdose mortality rate.” According to Bamboo HR, happiness among construction workers actually peaked in 2020, partially due to boosts from the CARES Act and the American Rescue Plan, “which fueled the economy with more than $4 trillion in investments.” The Infrastructure Investment and Jobs Act provided a further boost, as have pay increases: “hourly construction wages reached a 40-year high last year.”
Despite the positive signs of employee contentment in construction, experts caution business owners not to become complacent,” predicting “the labor shortage will put pressure on existing employees in the months ahead,” and reminding us that typical cyclical trends are likely to impact worker contentment too: “the industry tends to see seasonal patterns of happiness, with lower scores after the fall season and increases as the year ends.” One thing contractors know for sure is that attracting and retaining top talent relies in large part on having the capacity to steadily bid on and win good projects—and that’s exactly what Colonial Surety will help you do via The Partnership Account® for Contractors. Once qualified for The Partnership Account®, you’ll get ahead of the competition as you use our power of attorney to issue your own bid bonds, in minutes. Order performance bonds with speed and ease too. Plus, edge out the competition as you leverage your:
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Good To Do: Think Positive
Grappling with a severe labor shortage, many contractors are finding they have no choice but to welcome in and carefully onboard new workers, many of whom may have no prior experience in the field. While onboarding new hires requires time and attention, there can be a silver lining. Pros encourage patience and a positive outlook, pointing out:
New hires present a clean slate, which means you can train them in your culture, your techniques and your processes….Construction doesn’t have a monopoly on the best way to approach every problem. One of your new employees may offer up a solution or idea that changes the way you do business for the better.Think of it this way: There are a lot of great prospective employees out there who have never been exposed to construction. You could be the one who helps them fall in love with our amazing industry.
Think bigger: 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.