As the cost of the building rises due to a lack of increase in productivity, labor shortages, and rising material prices, construction contractors are turning to HR technology and outsourcing solutions to automate tedious administrative processes and offer attractive benefits to retain top talent, writes Nicolas De Bonis, co-founder, and CEO at Workyard.

An essential component of the US economy, the construction industry makes up around 4.1% of US GDP.

As the cost of the building rises due to a lack of increase in productivity, labor shortages, and rising material prices, it’s critical to make progress towards making the construction industry more efficient and cost-effective, and California is not immune to this problem.

Focusing in on the labor shortage problem, 80% of residential contractors and over 50% of commercial contractors reported difficulty filling craft worker positions in 2018, according to two separate surveys.

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