Right now, the construction industry is grappling with several issues: supply problems, labor shortage, changes in the types of skills needed. These issues are having a significant impact on businesses throughout the construction industry. From HVAC technicians to electricians, plumbers, equipment operators, and more, just about everyone is feeling the effects of these challenges.
With the current situation in mind, what will the future look like in the next few years? Will we be able to overcome today’s issues and figure out how to be successful in a changing world? Here are a few predictions for the future of the construction industry:
- Demand will remain strong
- Labor sharing will help alleviate labor shortage
An Industry with Plenty of Demand
Right now, the construction industry is growing – and it shows zero signs of slowing down. By the end of 2021, the global construction industry had grown 6.37%. Much of this growth was due to pandemic-related delays and supply chain disruptions. Now, there are especially high demands for residential construction. Experts predict growing demand in healthcare and education sectors.
While some things will come and go as the world changes, there will always be a need for people who can build and maintain the places where people live and work. The demand for construction labor is particularly high right now and will remain a safe industry to be a part of. In other words, if you’re thinking about learning a skill and getting into the trades, you’re likely to have excellent job security well into the future.
Solving Future Construction Labor Shortages with Labor Sharing
Right now, many companies are facing issues due to labor shortage. There’s a lot of demand and not enough people who are skilled enough to complete the work. In the future, we’ll need to adopt innovative new tactics to adapt to this problem. One way we can solve the labor shortage is by adopting work sharing.
Work sharing, also known as job sharing or labor sharing, can be applied to nearly any job. Sometimes, it’s used as a way for a company to temporarily reduce the hours of their employees. Instead of laying them off during a slow season, they can “lend them out” to other companies who require the same skills. On the other end of things, companies can use the same concept to find additional coverage when understaffed during busy times.
Labor sharing apps like ConX make it possible for construction companies to adopt labor sharing. Think of it like Uber or Airbnb. Using the app, you can pool your employees with other companies. When needed, you can loan or borrow employees. This can make it much easier to ride out the ups and downs that are inherent to this field of work.
Working Together to Make the Future Brighter
With high demand for better infrastructure and more housing, we feel optimistic about the future of construction. One by one, many of the supply issues seem to be getting resolved. We’re figuring out better and more efficient ways to do things. With innovations such as labor sharing, we’re confident that the industry will be better equipped to handle future challenges. Get in touch today to learn more about ConX and how we are revolutionizing the future of labor sharing!