How will your business manage the financial and performance pressures of a skills shortage over the next five years?
There are 2.9 million jobs filled in the Construction Industry, circa 10% of all jobs in the UK in over 280,000 businesses. However, the UK construction job sector needs an additional 223,450 jobs over the next five years to handle expected output growth to 2019.
This equates to recruiting of an average of 44,690 people each year between now and 2019 to meet demand and deliver average annual output growth of 2.9 per cent, according to the latest Construction Skills Network report from Experian and the CITB.
Several regions of the UK could face skills shortages as a result of projects coming together at the same time.
Big infrastructure projects will be delivered irrespective of the squeeze on the workforce, but the potential impact on other construction projects in the same regions could cause concern.
What impact will it have on employers working on other construction projects in those regions, and will they face significant cost inflation as a result?
Total construction employment in the UK is projected to reach 2.74m by 2019, still slightly below the 2008 peak of 2.86m.
Across the UK, all construction occupations are expected to experience employment growth over the five years to 2019.
The most serious shortages are expected to be in traditional trades, including interior fit-out and bricklayers, which will need thousands of new reruits to keep up with demand.