Key Highlights
- The construction industry accounts for approximately 7% of the global GDP
- The construction workforce in the US is projected to grow by 12% from 2021 to 2031
- Approximately 70% of construction firms report difficulties in recruiting skilled workers
- Women make up about 10% of construction labor force
- The average age of workers in the construction industry is over 42 years
- The turnover rate in construction can be as high as 30% annually
- Construction workers earn about 20% more than workers in other industries with similar education levels
- Approximately 15% of construction workers are self-employed
- Apprenticeship programs in construction increase retention rates by up to 50%
- Construction companies report that lack of qualified labor causes project delays in 45% of cases
- The use of temporary staffing in construction increased by 8% in 2022
- 65% of construction firms believe automation is necessary for long-term growth
- The average construction project management workforce experience is around 8 years
With the construction industry fueling over 7% of the global GDP and facing an urgent skills crisis, it’s clear that innovative HR strategies are more crucial than ever to build a stronger, safer, and more diverse workforce.
Industry Growth and Market Trends
- The construction industry accounts for approximately 7% of the global GDP
- The construction workforce in the US is projected to grow by 12% from 2021 to 2031
- The use of temporary staffing in construction increased by 8% in 2022
- Construction industry is projected to grow by 11% from 2021 to 2031, faster than the average for all occupations
- About 12% of construction companies are actively pursuing green certifications, aligning with sustainability goals
Industry Growth and Market Trends Interpretation
Safety, Training, and Safety Culture
- Construction industry safety training completion rates are around 85%
- The cost of OSHA-related safety violations averages around $10,000 per incident for construction companies
- 80% of construction companies believe that safety training correlates with fewer accidents
- Construction firms that invest in employee training see a 20% reduction in workplace accidents
- Construction firms with robust safety cultures see 60% fewer reportable accidents
- 58% of construction work barriers are due to insufficient workforce training, according to industry surveys
- The use of virtual reality for training in construction has grown by 25% over the past two years, enhancing safety preparedness
Safety, Training, and Safety Culture Interpretation
Technology Adoption and Innovation
- 65% of construction firms believe automation is necessary for long-term growth
- About 18% of construction companies utilize drones for site surveying, aiding in workforce planning and safety
Technology Adoption and Innovation Interpretation
Workforce Demographics and Diversity
- Women make up about 10% of construction labor force
- The average age of workers in the construction industry is over 42 years
- Approximately 15% of construction workers are self-employed
- The average construction project management workforce experience is around 8 years
- About 25% of construction workers are aged 55 and older, indicating an aging workforce
- The use of diversity and inclusion initiatives in construction increased by 20% in the past three years
- The median wage for construction managers was approximately $97,180 in 2022
- Construction workers with union membership earn approximately 15-20% more than non-union workers
- The proportion of women in construction supervisory roles increased by 12% over the last five years
- 45% of construction firms have implemented diversity training programs, with reported improvements in team collaboration
- The percentage of workers in construction who plan to retire within the next 10 years is approximately 25%, highlighting a looming skills gap
- 60% of construction companies have difficulty achieving workplace gender diversity goals, despite initiatives
Workforce Demographics and Diversity Interpretation
Workforce Management and Productivity
- Approximately 70% of construction firms report difficulties in recruiting skilled workers
- The turnover rate in construction can be as high as 30% annually
- Construction workers earn about 20% more than workers in other industries with similar education levels
- Apprenticeship programs in construction increase retention rates by up to 50%
- Construction companies report that lack of qualified labor causes project delays in 45% of cases
- 50% of construction firms have implemented or plan to implement HR technology tools
- Nearly 60% of construction firms provide health benefits to their employees
- The average annual turnover cost for construction companies is estimated at $15,000 per employee
- Construction firms experience a 5-6% increase in productivity after investing in HR training programs
- 40% of construction companies report difficulty in maintaining a skilled labor pipeline
- 30% of construction firms have adopted flexible work arrangements
- Only about 15% of HR managers in construction report having a formal employee wellness program
- Construction companies with a dedicated HR team report 32% higher employee retention
- Under 10% of construction firms participate in mentorship or career development programs, but those that do see a 25% increase in employee satisfaction
- Construction firms report that 75% of their workforce would consider training opportunities if available
- On average, construction firms spend about 2.5% of project costs on training and HR development
- The share of remote or hybrid work options in construction is still less than 5%, but increasing
- The average time from hiring to project start for construction workers is around 4 weeks, impacting project timelines
- Approximately 25% of construction companies lack formal onboarding programs for new hires, leading to longer ramp-up times
- 55% of construction firms rate employee morale as a critical factor for productivity
- The average duration of employment in the construction industry is around 6 years, indicating high job turnover
- Construction industry HR budgets on average represent 1.8% of total project costs
- 35% of construction companies report experiencing high absenteeism rates, impacting project schedules
- Construction companies spend an average of $8,000 annually per employee on recruitment and onboarding expenses
- Over 50% of HR professionals in construction believe that succession planning is either lacking or insufficient
Workforce Management and Productivity Interpretation
Sources & References
- Reference 1CONSTRUCTCONNECTResearch Publication(2024)Visit source
- Reference 2BLSResearch Publication(2024)Visit source
- Reference 3AGCResearch Publication(2024)Visit source
- Reference 4NAHBResearch Publication(2024)Visit source
- Reference 5NASCLAResearch Publication(2024)Visit source
- Reference 6CONSTRUCTIONDIVEResearch Publication(2024)Visit source
- Reference 7AI-CONSTRUCTIONResearch Publication(2024)Visit source
- Reference 8PROCOREResearch Publication(2024)Visit source
- Reference 9OSHAResearch Publication(2024)Visit source
- Reference 10CONSTRUCTIONEXECResearch Publication(2024)Visit source
- Reference 11FORBESResearch Publication(2024)Visit source
- Reference 12GREENBUILDINGSUPPLYResearch Publication(2024)Visit source