New Data Indicates Construction Companies Struggle to Balance Recruiting and Retention Initiatives
As construction companies push to overcome staffing challenges that have led to many project delays, Arcoro has released new data that sheds light on the recruiting and retention strategies being used to address a decrease in skilled workers.
The Associated General Contractors of America and Arcoro, the leading platform for construction and specialty contractor workforce solutions, conducted and released initial results from the 2024 Workforce Survey earlier this year. Nearly 1,500 firms completed the survey, which included several questions specifically focused on recruiting and workforce management to better understand how and where the industry is attracting talent and managing the talent they have.
“Construction employers are overlooking key opportunities that can help them strengthen their recruiting and retention efforts and, hopefully, come out on top,” said Chad Mathias, senior vice president of sales and strategy at Arcoro. “Technology, programs and resources represent a powerful combination for improvement.”
Never-before-released results of these workforce questions show that companies are making efforts to recruit from diverse candidate pools. Respondents reported actively targeting the following groups: 85% recruit new graduates, 81% recruit minorities, 80% recruit veterans, 79% recruit women, 51% recruit career changers and 35% recruit formerly incarcerated individuals.
However, there’s progress to be made in some areas central to recruiting and retention strategies in the tightest job market in decades.
When it comes to culture, 52% of respondents said they have and promote a well-defined culture, while 51% indicate their culture helps with their recruiting and retention strategy. Meanwhile, 20% said they either don’t have a defined culture or don’t promote it.
There’s also room for improvement in training and upskilling workers. About 24% of companies haven’t implemented any upskilling techniques. Among the 76% that have, a variety of methods are being used: 45% are strengthening performance management, 27% have established new learning programs, 25% are using technology to deliver and track training, 34% are partnering with a third-party for courses and 32% have implemented career pathing.
Surprisingly, only 14% said they use a platform to improve performance management. Survey results also indicate that companies see the value of feedback and performance management, with 53% conducting annual formal reviews. Meanwhile, 36% said they have an informal review process and 14% reported they have no formal process.
Equally surprising is the use of analytics in the industry. Forty-nine percent of respondents said they don’t use any business intelligence (BI) or other data to help with their workforce planning and management, 35% indicate they have access to and use this type of data, 10% said they would use BI if it was available to them and 4% said they have access to BI data but don’t use it.
“This new data makes it clear that construction companies will have to up their game to recruit and retain talent in the future,” said Mathias. “However, many companies have yet to adopt modern technology for core HR processes, like training or performance management. This represents a real opportunity for the industry to take advantage of HR solutions that enable them to be more efficient and effective.”
For more information, visit https://arcoro.com.
Studs Unlimited Footprint to Expand
“We are excited to welcome the Studs Unlimited employees to the ClarkDietrich family,” said Brian Panuccio, president of ClarkDietrich. “This geographic expansion will help us amplify our service levels to our customers located in the Midwestern part of the United States, from Texas to Minnesota. We will be significantly expanding the existing footprint of Studs Unlimited by adding square footage and machinery to the operation.”
The acquisition strengthens ClarkDietrich’s ongoing commitment to quality, service and sustainability. Studs Unlimited is known for its quick-turn services, specializing in fast and accurate fabrication. Like ClarkDietrich, Studs Unlimited is a member of the Steel Framing Industry Association (SFIA).
ClarkDietrich is acquiring the assets for Studs Unlimited from Foundation Building Materials.
ClarkDietrich, North America’s largest manufacturer of cold-formed steel (CFS) framing products, announced today the acquisition of Studs Unlimited, effective October 1, 2024.
Studs Unlimited operates out of a single location in Oklahoma City and has served the residential and commercial industries since 2003.
For more information, visit https://buildsteel.org/news/clarkdietrich-
announces-acquisition-of-studs-
unlimited.
Drywall and Interior Plastering Market Size, Share and Forecast by Key Players
According to the MRI Team’s Market Research Intellect, the global drywall and interior plastering market is anticipated to grow at a compound annual growth rate (CAGR) of 8.11% between 2024 and 2031. The market is expected to grow to $36 billion by 2024. The valuation is expected to reach $62.14 billion by 2031.
The drywall and interior plastering market is experiencing robust growth, propelled by increasing construction activities globally. As urbanization accelerates, the demand for residential and commercial buildings rises, fueling the need for efficient interior finishing solutions. Innovations in drywall technology, such as lightweight and moisture-resistant options, are enhancing the appeal of these materials for builders and architects. Additionally, a growing emphasis on aesthetic interiors and sustainable building practices is driving the adoption of advanced plastering techniques. The rise in renovation and remodeling projects further contributes to market expansion, as homeowners seek improved aesthetics and functionality in their living spaces.
Several factors are driving the drywall and interior plastering market. The booming construction industry, supported by government initiatives and investments in infrastructure, is a primary catalyst for growth. Increased awareness of energy efficiency and sustainable building materials also plays a crucial role, as consumers and builders prioritize eco-friendly options. Additionally, the trend toward open floor plans and customized interior designs is boosting demand for versatile drywall solutions. Technological advancements in installation methods and materials are improving efficiency and reducing costs, making drywall and plastering more accessible for various applications. Lastly, the growing trend of DIY home improvement projects is further stimulating market demand.
For more information, visit www.openpr.com/news/3681837/drywall-and-interior-plastering-market-size-share-and-forecast.
Acoustic Insulation Global Market Projected Growth Outlined by Size, Share, Growth, Trends, Forecast to 2033
The acoustic insulation market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
The acoustic insulation market size is expected to see strong growth in the next few years. It will grow to $21.94 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to smart cities initiatives, energy efficiency concerns, growth in hospitality sector, renewable energy projects, government initiatives, global pandemic impact. Major trends in the forecast period include advancements in material technologies, sustainable insulation solutions, technological integration for smart buildings and HVAC systems.
For more information, visit www.thebusinessresearchcompany.com.
Statement by Assistant Secretary for Occupational Safety and Health on 2023 Occupational Injuries and Illnesses
Douglas Parker, assistant secretary for occupational safety and health at the U.S. Department of Labor, issued the following statement on November 13 regarding the Bureau of Labor Statistics (BLS) 2023 Survey of Occupational Injuries and Illnesses :
“The report from the Bureau of Labor Statistics reveals that the rate of recordable workplace injuries and illnesses in 2023 fell to its lowest level since 2003. Private industry non-fatal injuries and illnesses decreased 8.4 percent from 2022.
“We are encouraged by these significant improvements in injury and illness rates in 2023. Looking at the BLS report and our own recent analysis showing fewer worker deaths in OSHA’s purview, our formula of strong enforcement combined with collaboration between government, labor and the private sector to make workplace safety and health as a core value is making a difference in the lives of America’s workers.
“Despite the progress reported today, OSHA’s work is far from complete. Too many workers are injured or sickened every day in the United States, mostly from preventable incidents. We all must continue our commitment to making sure that every worker is able to go home healthy and whole.
“Safety and health is not a partisan issue, and we hope the strategies associated with these outcomes will continue.”
For more information, visit www.bls.gov/news.release/osh.nr0.htm.
