It’s a Contractor’s Market: How Construction Workers Are Dominating the Industry in 2022
This year is looking promising for a resurgence and even growth of the contracting industry. While rising costs and labor shortages are still an issue, the industry is nonetheless rising to the challenge with some trends that are taking contracting firms to the next level. The current market is highly competitive, and staying on top of these construction industry trends can mean all the difference for contracting businesses trying to make it in a post-pandemic world. With that in mind, here are a few trends to watch.
Huge tech companies are making more and more investments related to developing smart and sustainable cities that are also very interconnected. These projects require a higher level of planning and development before actual construction takes place, but they pave the way for companies that are focused on environmental awareness and economical influence. Smart cities have the capability of being a huge boon for construction agencies after they are built, as well, by providing data on things such as infrastructure and weather.
Some companies are choosing to go with a residential-only focus. With the current housing boom and a new generation looking to buy their first homes, residential work is growing quickly and residential starts are expected to continue to grow. Look around the next time you travel through an up-and-coming area, and you will likely see many houses, condos, or apartments in the process of new construction.
Software for Contractor Use
New software is available every second, and it has improved a number of industries by providing tools for tasks that may have been very time-consuming or difficult to perform manually. Construction management software, construction bidding software, and even BIM software has improved exponentially over the past few years, allowing contractors to automate some of their work and keep track of important details without pen and paper.
Offsite and Modular Construction
Offsite construction has been known for years to be a large improvement for the construction industry. However, unlike the offsite construction of yesteryear – in which most people only think of mobile homes – the off-site and modular construction of today offers quality, affordable buildings of many different types. Offsite construction is also better for the environment and better for the worker, providing a safer and more predictable working environment.
While green construction is still currently considered a luxury in most areas, more and more people are moving towards an environmentally friendly ideal that includes making their homes also more environmentally friendly. Things like lowering carbon footprints during the construction process and greenscaping rooftops open up more jobs and more opportunities for construction firms that focus on these possibilities.
The capabilities of mobile devices keep growing, and this is no different for the construction industry. Construction management can be done remotely with employees, teams can collaborate without physical materials, and having a mobile-friendly website for a contracting business (or any business, for that matter) is going to keep you updated and ready for the future as well as open to the customer base that is becoming more common.
Great Employees Needed
The construction market is booming and will likely continue to do so, and the need for employees continues to go up on an almost daily basis. Educated and experienced workers are going to be highly sought after, and up to a 7% employment jump is projected in the coming year. Growing wages will also be present for construction workers moving forward, as residential demand rises.
Current pushes for infrastructure repairs and better housing and facilities will bring growth to the construction industry as well. Many states are witnessing the impact of infrastructure that has not been kept up with, and many more projects are going to be laid out to get these infrastructure issues fixed.
Contractors and construction workers will have a lot of choices in the coming year, with a focus being on residential growth and rebuilding of old infrastructure. More and more contractors are working technology into their business and keeping up with demand by exploring change and keeping up with helpful trends. These trends allow for a lower bottom line while still pleasing customers and improving profits. Construction is constantly growing, and for this industry, the future is unquestionably bright.