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Industry Buzz: Craft Labor Gaps Will Slow Growth, Say Contractor HR Chiefs

How Firms Will Adapt to Craft Shortfalls

Craft labor gaps ahead will slow growth for about one-third of large contractors and cause 25% to pass up bids, even as 65% plan to self-perform more work, says a survey of firms' human resources execs by consultant FMI

The study projects a need for 8,500 additional craft workers by 2017, and sees field manager gaps as well.

FMI training expert Ken Wilson says while 40% of respondents have executive succession plans, only 14% have them for project managers and only 7% for foremen and superintendents.

About 24% of respondees say they will increase their use of prefabrication and modularization to make up for craft shortfalls.

Read more at ENR.com.

Published February 19, 2015 by Contractor Business Quarterly (ENR.com, Engineering News Record)