Two Construction Industry Risks: Workforce Shortage and Change Itself

A recent study conducted by Associate General Contractors (AGC) and FMI, provider of management consulting and investment banking services to engineering and construction reveals some of the most pressing risks that confront the construction industry today.

Surveys showed that 88 percent of the respondents believe risks connected to the shortage of craft workers is a major concern. More than 65 percent said risks related to a shortage of field supervisors is also a growing problem.

Results of the study showed many respondents predicting health care, commercial-office space, and education will experience the most change in the next five years.

Related directly to construction, areas such as concrete, curtain walls, electrical work, steel erection and mechanical and structural engineering are expected to undergo disruptive changes.

Overall, a surprising 92 percent said design documents are less complete than what they once were and two-thirds of this group said they believe the construction industry will see more change in the next five years than it has in the last 50 years.

In a broad sense, respondents agreed that risk management must evolve and find ways to address the significant risks that contract today’s contractors that are not insurable. Most agreed that an integrated approach is needed to create and manage processes and control outputs.  To do so will require change, which is often a problem in and of itself, along with a new perspective of cross-disciplinary thinking throughout business and industry.

FC Construction Services has been adapting to change in the industry for years, with technological resources that take the guesswork out of monitoring and reporting. Safety and security are drivers of our leading innovations for the construction workforce of today and tomorrow.

One recent advance from FC Construction Services is ForceCount, a smart phone-enabled, labor tracking and reporting program that operates completely independent of any site access control devices or systems.  With seamless integration to employer-controlled time and attendance payroll and project cost accounting systems, ForceCount allows the user to eliminate pen and paper labor tracking across all active construction sites.

Change is a given in any industry, but for us, staying ahead of the curve enables FC Construction Services to provide tools and services to our customers and partners that enhance the construction industry and move it forward into a brighter future.

Leave a comment