The construction industry is a very competitive one. Some of the factors that determine the success of a company are agility and speed. Companies need to know the difference between developing candidates to grow with the company and hiring talented ones who can provide immediate results.
People Opt to Work on a Project by Project Basis
In 2015, some people were leaving permanent work to look for interim work on a project by project basis. Finding and retaining qualified talent has become a serious challenges for some companies. The attraction of working for themselves, such as more flexible work, increased earnings and a better work-life balance.
Companies Offer Higher Salaries to Attract Candidates
Construction companies continued to grow in 2015 which put pressure on their resources. This was seen last year when industry professionals experienced an increase of 10 to 15 percent across the board. Salaries for professional staff have been pretty stable since the late 2000s and now are increasing so candidates are seeing a credible reason to move.
More Women are Attracted in the Construction Industry
In the past, the CPE sector (construction, property, and engineering) was predominantly male oriented. However, in recent year, there has been a dramatic change with an increase in women being attracted to the industry. This is being encouraged by all sectors within CPE through initiatives such as #ILookLikeAnEngineer, #WomenInEngineering, #NotJusForBoys, #RIBArolemodels, #IETywe, #constructionwomen, #seemejoinme.
Skilled Professionals Are In Demand
There are some positions that are more in demand now than ever before. Some of the professionals that are in high demand by construction companies include estimators, quantity surveyors, construction planners, and design managers. According to surveys, candidates with two to five years of experience are highly sought after. This is partly due to the low graduate recruitment made by construction companies during the economic downturn.
Use of Social Networks in Recruitment
More companies are using social networks in their recruitment efforts. While LinkedIn seems to be the go-to social media platform for professionals looking to enhance their careers, Facebook and Twitter are also being used more by organisations for recruitment. Firms have also started using mobile optimised methods in order to attract candidates.
Passive Candidates Get More Opportunities
2015 is the year when passive candidates have become more important in the job market. According to LinkedIn, around 63 % of their members are not looking for new jobs but are still interested when presented with an interested opportunity. This is also the case in the construction industry. While employees are not actively looking for new jobs, they are likely to move for the right opportunity.
Candidates and Companies Do More Research Than Before
Before applying for a job, candidates research the company first. That way they are more aware of what type of company they are considering, their values and visions. And it is not just the potential employees who are doing more research. Companies are also looking for the ideal candidate to reduce the learning curve.
Skills Shortage Foreseen
One of the trends seen in the CPE sector (construction, property and engineering) is that the skills shortage will continue indefinitely. Not only that, but almost half of employees are expected to move jobs within the year creating a dynamic market place for skills. Because of the skills shortage, companies that are waiting for the ideal candidate will be at a disadvantage by those who have a more flexible approach to recruitment practices. It is important for companies in the CPE sector to reflect the upturn of the industry in their recruitment practices and policies.
Failure to Attract New Recruits to CPE Sector
One of the reasons why there is a skills shortage is because of the failure to attract enough new talent to the industry. Industry professionals, as well as organisations, have several initiatives to address this problem, such as adopting a school in the local community, or online initiatives such as: #goconstruct, #loveconstruction, #BorntoBuild, #ShapingTheWorld, #engineersinspire, #buildingyourcareer.
Industry professionals and analysts have estimated that there will be a deficit of around 100,000 workers by the year 2050.These are due to the ageing workforce, migration trends, and skills shortage. In the next couple of years, the CPE sector (construction, property, and engineering) will have a lot of retirements that can affect the number of qualified workers. It has been estimated that 70% of the current workforce will retire by the year 2025.
Younger Professionals Look for Contract Jobs
In the next couple of years, there will be an increase of millennials, younger professionals in the construction field who are not as concerned with job stability as previous generations. They value flexibility and the ability of being able to choose the jobs they work on.
As you can see, professionals in the construction industry will have lots of opportunities in the near future due to the continuous growth of the market. It is important for companies to have the correct and appropriate flexible recruitment policies and practices to give them a competitive advantage.