A study ran by an Ohio-based accounting and financial advisory firm shows that the largest threat to the construction industry is not lack of work, but lack of workers.
The study is an annual survey (The study is part of an annual survey) conducted by the firm, Skoda Minotti. It is distributed to construction contractors throughout Northeast Ohio.
There are many reasons why contractors may feel the lack of skilled labor is harmful to their industry. One is that they are losing Baby Boomer employees to retirement which leaves them in need because recent generations were led to believe the only option for a successful career involved attending a college or university.
The study cited just 12 percent of respondents believe a lack of work is currently the biggest threat to their business. Meanwhile, 55 percent of those responding believe the lack of qualified, skilled labor is the greatest concern and this number has steadily been on the rise in recent surveys. Contractors were asked what they are doing to combat this shortage of skilled labor, to which, 57 percent of survey respondents reported they are raising salaries as a way to attract potential skilled trades people.
Similar trends have been reported in many other parts of the U.S., and it is one of the strongest motivating factors as to why more young people need to think about options other than attending a four-year college after completing high school. A Registered Apprenticeship Program can equip them with the skills needed to respond to this growing industry and also find a path to a successful career.
Apprentices are paid for their work while they learn on-the-job from experienced journeymen. Apprentices also attend scheduled classes at their training center so that they can learn about theory, safety and code, and a host of other relevant and important topics.
A Registered Apprenticeship Program educates apprentices in the classroom and on-the job, getting them ready for a lifelong career in the construction industry while gathering no college debt. On top of receiving a paycheck while in apprenticeship, they will get an education with minimal out-of-pocket costs as well as rewarding benefits such as healthcare and retirement savings.
Do you want to join a registered apprenticeship? Take a minute to look at the various trades and Construct Your Future today.