More than half of U.S. contractors (55%) say finding enough skilled workers is one of the biggest barriers to growing their business, according to a DEWALT Powering the Future Survey.
That number rises to 69% among businesses with $10 million or more of annual revenue and 64% among survey respondents with 20 years or more of experience. About half of respondents believe that training the next generation of trades professionals is one of the most critical needs for the success of the construction industry in 2023.
An overwhelming majority of contractors (93%) say the lack of skilled workers has had at least a minor impact on their existing work. Half of the contractors who have had their work impacted by the labor shortage (50%) cite the primary causes for the labor gap as a lack of awareness around career paths in construction, followed by outside influences (parents, media, etc.) that guide younger people away from pursuing a career in the industry (47%), as well as an underestimation of how much money can be made (41%).
Keeping up with inflation (57%), risk management (37%), and working long hours (37%) are also major concerns for contractors.
Related Stories
Office Buildings | Jun 12, 2015
Houston's energy sector keeps office construction humming
Colliers International projects continued expansion this year in its quarterly report on national office market.
Office Buildings | Jun 11, 2015
Pop-up tree-office opens in London borough of Hackney
London's Hackney borough welcomed a new kind of workspace to Hoxton Square—the TreexOffice.
Office Buildings | Jun 9, 2015
Hines planning $300 million office tower for Denver skyline
Designed by Pickard Chilton, the 640,000-sf tower is geared for large-scale tenants, with features like floor-to-ceiling glass, a 5,000-sf fitness center, a tenant lounge, and a series of outdoor terraces.
Sponsored | Building Team | Jun 9, 2015
Is your firm social enough?
The overwhelming majority of A/E/C firms are engaged in social media. But to what end?
Contractors | Jun 8, 2015
ABC: 49 states report decline in construction unemployment rate
Five Plain States reported the lowest unemployment rates for construction workers in April.
Sponsored | Metals | Jun 4, 2015
How big of a building do I need?
Here is some advice on how metal buildings can be a solution for space shortages
Sponsored | Building Team | Jun 3, 2015
Succession planning starts with developing your leaders
Two-thirds of U.S. companies still admit that they have no formal succession plan in place, a 2014 survey conducted by the National Association of Corporate Directors found.
Building Team | Jun 3, 2015
Irvin E. Richter of Hill International receives Lifetime Achievement Award from CMAA's Mid-Atlantic Chapter
The award was given in recognition of his dedication, innovation and leadership in the area of project management and construction claims services
BIM and Information Technology | May 27, 2015
4 projects honored with AIA TAP Innovation Awards for excellence in BIM and project delivery
Morphosis Architects' Emerson College building in Los Angeles and the University of Delaware’s ISE Lab are among the projects honored by AIA for their use of BIM/VDC tools.
BIM and Information Technology | May 26, 2015
Moore's Law and the future of urban design
SmithGroupJJR's Stephen Conschafter, urban designer and planner, discusses his thoughts on the 50th anniversary of Moore's Law and how technology is transforming urban design.