Industry Buzz: Craft Labor Gaps Will Slow Growth, Say Contractor HR Chiefs
Craft labor gaps ahead will slow growth for about one-third of large contractors and cause 25% to pass up bids, even as 65% plan to self-perform more work, says a survey of firms' human resources execs by consultant FMI
The study projects a need for 8,500 additional craft workers by 2017, and sees field manager gaps as well.
FMI training expert Ken Wilson says while 40% of respondents have executive succession plans, only 14% have them for project managers and only 7% for foremen and superintendents.
About 42% of respondents say they will promote internally and boost training; 22% will add more to field managers' duties.