If you look at the trends released monthly by the U.S. Bureau of Labor Statistics, the construction industry adds jobs monthly. This can happen because the construction industry works in a deficit, with jobs always available, and there also is an ebb and flow of job hires with retiring/resigning/firing. In April for instance, the construction unemployment rate dropped to 4.1% (all industries unemployment decreased to 3.4%). Nonresidential construction employment increased by 800 positions on net, with growth in only one of the three subcategories. Nonresidential specialty trade contractors added 10,700 positions. The number of heavy and civil engineering jobs decreased by 8,100, while nonresidential building lost 1,800 jobs on net.
“Despite adding just 800 net jobs in April, nonresidential construction payrolls have expanded at a faster pace than the broader economy over the past year,” says Associated Builders and Contractors Chief Economist Anirban Basu. “Job creation continues to exceed expectations, and April saw the unemployment rate return to the lowest level since 1969. Put simply, the demand for workers remains significantly above the supply. This is especially true for contractors, a majority of whom intend to increase their staffing levels over the next six months, according to ABC’s Construction Confidence Index.”
If your company is hiring, stand out by approaching your posting, online presence, recruiting tactics and company benefits differently than others. Consider the following:
1. Re-assess the Job Posting. Don’t post old job listings without updating the language and ensuring the content is correct. You want to give candidates transparent, useful and clear information.
2. Offer Referrals. Referrals are a way to invest in your company with an actual hiring and retention payoff. Instead of a random job posting, referrals bring in people with a built-in reference from friends, family or acquaintances. Employees find referral programs motivational too because they get added cash for working with someone they know.
3. Add Diversity to Your Team. If you keep hiring from the same pool, consider adding people from different backgrounds and demographics. Adding diversity brings different perspectives to your company that can improve your operations, safety, morale and project quality.
4. Promote Growth. Like in all industries, construction employees want to know there is room to grow their careers. Consider what you can realistically offer new hires and think about professional development opportunities that you have not offered in the past.
5. Take Care of Your People. Construction work is hard on the body and mind. Expanding your employee well-being programs can lead to employee retention and recruitment. Some ideas include offering mental health benefits, flexible schedules, and a positive-reinforcement program where employees are recognized for meeting and exceeding certain benchmarks.
PS, our sister company, Progressive Stamping, is hiring. We are asking: Do you take ownership of the work you do? Do you like working with your hands? Are you eager to learn? Is punctuality important to you? If yes, then Progressive Stamping is meant for you! Come join our team at https://www.psi-okc.com/careers.
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