Retaining top talent in the construction industry is crucial for businesses of all sizes right now. Since the rollout of the Bipartisan Infrastructure Bill, it is forecast that between 300,000 to 600,000 new jobs will be created each year.

Given the skills shortage in the construction industry, it’s in the best interests of contractors to retain their most valuable workers. Employees that stay with a company generally have a positive impact in the following ways:

  • Productivity and quality remain consistent or improves
  • Key knowledge stays in-house
  • Maintain a strong company culture
  • Employees that bond improve overall morale
  • Good morale increases engagement
  • Job candidates take notice

Since the coronavirus pandemic, employees have been rethinking their life priorities. The Great Resignation has continued into the post-pandemic era. A PwC report reveals that 1 in 5 workers say they may consider looking for a new job in the next year.

According to the report, the main reasons people are leaving are for more money and job security. Construction that fails to address their recruitment policies now could miss out on key contracts – and lose your best employees in the process.

Whats Your Retention Strategy?

Staff retention usually involves several key factors; fair pay, supportive leaders, strong company culture, and a career path. Today’s employees also want the opportunity to learn on the job and work-life balance.

But even with the vital ingredients in place, there is no guarantee your best workers will stick around if a better opportunity arises. Construction companies have to stay one step ahead of their competitors by going beyond the average employee incentives.

To retain top talent, companies have to implement strategies that form emotional bonds between managers and team members, and colleagues across the board.

Top management also has a role to play in the social aspect that strengthens company culture and makes employees feel appreciated and valued.

In short, you need to adopt a human-first approach.

Create an Inclusive Work Environment

Social values mean a lot in today’s world. The World Economic Forum reports that six in 10 “belief-driven” employees are most interested in working for companies that match their ethical values.

The media frenzy around the opportunities and treatment of ethnic minorities, women, and LGBT+ in the workplace has placed more emphasis on companies in all industries to adopt an all-inclusive environment in which everybody feels they belong.

When employees feel safe, valued, and respected, they not only deliver better performance, but they are also more likely to stay with a company they know treats them fairly.

Check-In With Employees

Today’s employees want to be given a voice. And leaders need to listen. Regular one-to-ones with your employees are an effective strategy to determine the motivation and job satisfaction of each of your employees.

1-2-1 is an ideal way to give employees the opportunity to air their grievances, discuss any problems they have in and outside of work and make suggestions on how the workplace can be improved.

Companies can also look to provide support for employees through benefits and incentives. For example, providing childcare and healthcare packages to employees with young families shows that you care about your workers and the well-being of their families.

A Linkedin survey also reveals that employees are more engaged and likely to stick around if they are given opportunities to work in a variety of roles and expand their skillset. This also enables employees to understand more about the company.

Retaining staff is far more cost-efficient than recruiting new staff. On average, it takes around 12.5 weeks to fill job vacancies in the construction industry.

When you work with Cruitfly, however, we can source skilled workers in a fraction of the time and significantly reduce the costs associated with filling job vacancies. Furthermore, we can help you create a work environment that not only attracts top talent, but also enables you to retain your most valuable assets.