Most Profitable Roles In Construction Sector

Since the recession years, the building industry is now enjoying a boom in both the wages and the number of job increase. According to the Royal Institution of Chartered Surveyors (RICS) and Hays, pays for contractors grew by 5% for most professionals over the last year as compared to professional in other sectors of industry.

Shortage of Skills

The chief executive of Barratt Developments, David Thomas, describes that the lack of expertise in construction areas, the biggest challenge for the house builders. According to him, the largest construction company ought to employ almost 16000 subcontractors at any given time of the year. Duncan Bullimore, the Hays Construction Directors, explains that the sectors lost a lot of skilled labor workers during the downturn and as never made any efforts in attracting new trainees.

Thus, shortages across the industry occurred, and less number of potential recruits are available. As much as the government pledges massive house building drives and investments in infrastructure, the shortage of skills is expected to get worse. Therefore, finding professionals with robust and technical expertise is increasingly becoming difficult.

Roles That Will Offer Good Hike

Roles attracting the best pay rises

Research done by RICS, bricklayers and quantity surveyors are particularly in very short supply, with almost 60% of the respondents having difficulties in finding them for their projects.

The senior quantity surveyors earn an average of £50,042 having had a 5% increase in their salaries according to Hays. Their wages is expected to grow rapidly in the coming years. On the other hand, bricklayers ate demoing more than £200 each working day. Every one benefitted in their salaries such as the site managers. The construction industry pays people more compared to any sector.

Better employee benefits

The majority of employers planning to hire new workers in their construction business are expecting ashortage of qualified and suitable candidates. Thus they are forced to look for different ways to retain and attract their staffs. For some companies that have massive names, they are boosting the employee benefits in an attempt to draw them. A survey done by the Hays reveals that 27% of the contractors offers a car allowance or a company car while another 45% give more than 20 days of holidays in a year. A further 37% allows the staff to have a flexible working time. The shortage of skill labor forces a lot of contracts to re-think of their recruitment and employment strategies. Other companies hire people based on the core competencies, and then they will later develop their core competencies.

There is a fierce competition for staff, and the trend is expected to take a relatively longer time to cool down. More than two-thirds of the employers might increase the pays for employees shortly. There is a hope that an increase in wages will encourage the skilled workers to return to the construction sectors while attracting graduate and school leavers to the construction industry related careers. Meanwhile, the experienced increased growth in commercial and private housing property projects means that there will take more years of high wages inflation.

Sources

http://blog.careerbuilder.co.uk/2016/05/04/top-paying-roles-in-construction/

http://timesofindia.indiatimes.com/business/india-business/top-five-paying-industries-in-india/articleshow/58050028.cms

Reviewer

NIBT

Review Date

2017-05-12

Reviewed Item

Construction Sector Has Scope

Author Rating

4