
Employers
The labor shortage in the construction industry is a growing problem as fewer and fewer people enter the skilled trades. This means the impact of the shortage on safety, productivity, and construction costs are going to increase as the current workforce approaches retirement age.
Why should the workforce shortage matter to business owners?
Labor shortages lead to a strained workforce, which can cause over 15% on cost overrun and over 20% on schedule overrun. The push for workers to remain on time and on budget under these conditions has been proven to increase the rate of safety incidents by 50%, slowing progress even further.
The impact of the skilled labor shortages in recent years
