It is a great time to work within the construction industry. The past year showed that the industry is resilient. While many sectors of society experienced a slump because of the ongoing public health crisis, the demand for new houses was not only retained but increased. Due to low mortgage rates, more people were able to afford to buy and own their own homes.
Now that normalcy is, bit by bit, returning, demand for new houses remains strong. In fact, according to recent estimates, the United States needs 5.24 million new homes to be built and go on sale to meet the demand.
Builders are very busy right now, and they will remain busy in the foreseeable future.
Plenty of Opportunities
The demand for new housing all over the world has also opened employment opportunities for everyone who wants to work in the construction industry.
The U.S. is not producing more houses and part of it is because of the severe shortage of skilled workers. There simply are not enough people working in construction right now for companies to increase output right now.
A new report by the Home Builders Institute (HBI) revealed that the industry needs to hire 740,000 workers annually over the next three years to meet the housing demand in the U.S. Meanwhile, the Chartered Institute of Building (CIOB) in the United Kingdom said that the industry needs to recruit 157,000 workers by 2021.
An expert called the worker shortage a “crisis.”
The construction industry offers employment opportunities to anyone who wants to work. You do not even need to have a college degree. You can start work whenever you want.
Moreover, your choices are varied. You do not have to lug around heavy bricks at a construction site if you do not want to. You can, instead, be a surveyor, a painter, a plasterer, a plumber, an electrician, an engineer, a crane operator, or a forklift driver. If you have an entrepreneurial spirit, you can buy and sell construction equipment.
Some of these positions require training or a college degree, but you have plenty of openings to choose from if you decide to pursue a career in construction.
The shortage of workers is forcing many employers to raise hourly rates and offer benefits to gain the attention of new recruits. Moreover, there is healthcare for
According to reports, one business is already paying laborers $25 per hour and giving a $250 bonus for those who work for at least 30 days. There is also another $250 for successful referrals. In addition, they get healthcare.
All these perks were formerly uncommon in the industry. For context, the average base salary for construction laborers in the U.S. is $16.73 per hour.
In the UK, trainee roles start at an annual pay of £25,000. Those with more technical roles get above £48,000.
The shortage of workers is beneficial for those who work in construction. As long as the industry remains competitive, the pay will be, too. Expect companies to offer higher pay and attractive benefits to attract potential workers who can help fulfill project backlogs. Moreover, success in construction is based on hard work and experience. Those who have been in the industry for long and have gained mastery of their trade will see their career take off. There are many workers who started from the bottom of the chain and eventually became chief executives of their own companies. As long as you work hard and continue improving your skills, you can progress in the industry and move to more important — and higher-paying — roles.
Job Satisfaction Guaranteed
There are only a few jobs where workers are consistently satisfied. Construction is one of them. A few studies have been conducted and found that construction workers are happy employees.
A report from 2019 revealed that, despite the stigma, about two-thirds of workers surveyed (65 percent) are actually satisfied with their jobs. They gave their jobs an average score of 7.9 on a scale of 1 to 10. Almost all of them (81 percent) said that they have financial security. Most of them will also recommend their work to young people.
To those surveyed, the joy of working in construction comes from the camaraderie and teamwork required in the workplace. Moreover, they said that the work they do challenges not just their physical capabilities, but mental strength, too.
The construction industry is very welcoming to anyone who wants work. Moreover, there are a lot of benefits for those who will pursue a career in construction. There are plenty of employment opportunities, opportunities for career advancement, higher pay, and job satisfaction.