2024: How Construction Firms Can Make the Most Out Of The New Year
The new year is when many construction companies reflect on their internal operations.
Everything from spending, employee performance, forecasts for the next year and upcoming investments are all considered in preparation for the new year.
However, firms often overlook the development and expansion of their in-house team.
Recruitment is becoming increasingly important, as 89% of firms say finding the right talent is their biggest challenge.
Moreover, in 2024, the construction industry is forecasted to grow for the first time in three years, meaning construction firms with the right talent stand to benefit.
For example, the government has allocated an estimated £20 billion to building new hospitals alone. Opportunities are bound to follow as money begins to flow into the industry.
To adapt to this opportunity, construction firms must find the right people. However, as demand for these workers increases, attracting them is set to become much more difficult.
Proactivity
The Construction Skills Network recently reported a need for an additional 225,000 workers in the UK construction industry by 2027, and there is a widening skills gap in construction.
Around 45% of candidates fall into the ” passive ” category or are open to new opportunities but are not actively looking for them. Construction companies must go above and beyond a simple job posting to find the most skilled workers – especially for high-level positions.
A proactive, head-hunting approach is often needed to find the best talent. It’s tempting to try and handle this in-house, but there are several reasons why outsourcing this process may be the better option.
Firstly, professional relationships in the construction industry are often personal and intertwined, so you don’t want to risk developing a reputation for stealing talent. By outsourcing headhunting, you can ensure confidentiality and discretion in your search for the best hires.
Secondly, the overhead costs of managing an in-house recruitment team can be massive and inflexible, making it difficult to scale up or down as needed.
Lastly, headhunters like us have extensive connections in the industry that you can take advantage of, expanding your company’s talent reach.
2024
As the construction industry bounces back from its three-year decline, a strong team can help construction firms capitalise on the opportunities provided by increased investment.
By seeking out and vetting the right candidates while building stable relationships with them, firms can create a diligent and capable workforce to drive them forward in the new year.
Pinnacle provides a diligent and proactive long-term approach to help get firm clients who are not only skilled but also match the culture and goals of each construction firm.
Our strong network of connections helps to find candidates off the general market and build long-term relationships to ensure you have the best talent on your team.
If you’re looking to build up your team for the new year or would like to talk through your recruiting strategy, please don’t hesitate to reach out at [email protected]