b'Labor Shortage Will Continue to Affect Contractors in 2024(continued from page 11) Revamp Your Employee Training Program IMPROVING SAFETY Many hazards exist on a construction site that can lead to serious injury or death if proper precautions arent taken, and maintaining consistent safety training can help significantly reduce preventable accidents and injuries.The Associated General Contractors of AmericaYounger and newer employees present higher safety recently surveyed its members regarding their outlookand quality risks due to their inexperience. And the for 2024, and although 77% of respondents said theyhigh accident rate of new hires shows how important have a hard time filling salaried or hourly craftworkerit is to start their safety training before they start positions, 69% said they still plan to increase staffingwork, then provide them with refresher training to meet demand, according to Construction Dive.throughout the year. According to the Bureau of Twenty percent of respondents said it will becomeLabor Statistics, about 60% of all construction more difficult to hire in 2024.injuries occur in a workers first year of employment.Your team should receive general safety training that In 14 of 17 sectors, respondents anticipated the dollarcovers equipment on your site as well as the labor value of projects they compete for to increase in 2024they are expected to perform. In addition, they should compared with 2023.receive specialized training before taking on new and more advanced responsibilities. Consider how company-required certifications can help your crew Survey respondents top concerns for 2024 included:be safer. Using a certification-management system Rising interest rates or financing costs: 64%shows which employees are qualified to operate Economic slowdown or recession: 62%certain types of equipment.Rising direct labor costs (pay, benefits, employerIn todays challenging recruiting and retaining taxes): 58%environment, diligent and ongoing training is essential in the construction industry. It improves Insufficient supply of workers or subcontractors:efficiency, quality and safety, leads to career paths 56%and continuity in the workforce, and makes Worker quality: 56%companies more competitive as well as more Material costs: 54%attractive to prospects. To recruit and retain more workers, nearly two-thirds of survey respondents said they increased base pay inWritten by Tony DiSilvestro - Founder, Ynot Enterprises2023 more than they had the previous year, and 25%Tony DiSilvestro (www.tonydisilvestro.com) is the Forbes introduced or increased incentives or bonuses.Books author of The Business Scaling Blueprint: Building a Foundation to Grow Your Brand. He has founded over 31 businesses and employs over 450 people. He is also part of the Regarding recruitment and retention, in a recentVirginia Beach Vision Board, which involves the top 125 business owners in the area. DiSilvestro is the founder of Ynot webinar about AGCs report, Lynn Hansen, CEO ofEnterprises, and his background includes work experience in Crowder Constructors, Charlotte, N.C., said youngermanufacturing, consulting, a SaaS training company, and workers value more flexibility and time off, and herresidential and commercial construction.company also intends to invest more in technology to attract workers. 18'