How to Retain Top Construction Talent in 2024

Retaining your most valuable employees in construction is more critical than ever and requires added attention and strategy to a variety of components of your employee value proposition (EVP). The trends and evolution of implementing an effective retention strategy will continue to evolve to reflect the current state of the job market and economy.  

Work-life Balance and Flexibility Prioritization    

While construction remains a hands-on industry and requires individuals to be onsite to undertake their responsibilities, the growing importance of flexibility and work-life balance is still pertinent in this sector when determining whether a new position or an existing role is the right fit.  

Candidates today are looking for a more balanced lifestyle with fixed hours, no weekend work, and reduced commute times. This is a dramatic shift from previous years, where the focus was on the project and compensation when considering a new opportunity. As a result, if organizations are looking to retain the top talent in construction, flexibility and work-life balance should be top of mind.  

Strategies for Attracting and Retaining Top Talent in Construction

Improved Benefits Package  

Though flexibility will continue to be a challenge to incorporate within construction, offering competitive wages and benefits is vital to attracting top talent. As a result, we are seeing organizations capitalize on their ability to improve their overall package they offer to candidates through increased compensation and other benefits.

We have seen a noticeable improvement in the benefit packages on offer and the average salary in construction rose 7% in 2023 and has risen more than 20% since 2020. Companies have had to refresh their approach to employee retention based on the elevated level of demand and increasing compensation on offer to attract the best talent.  

How much should you be paying in 2024? See the Latest Salary Guides  

Upskilling

Companies are increasingly focused on retention strategies as the labor shortage in the industry and the factors that contribute to it are largely out of their control.  

Where we are seeing companies invest is hiring at an entry level with the goal of developing skills through professional development programs, while continuing to work on their EVP and compensation structures to attract new talent in such a competitive environment to keep their team engaged and motivated to stay. More broadly, trade associations and various industry bodies are investing heavily in creating new apprenticeship, craft and health and safety programs to develop the skills needed to address the widening skills gap in the sector.

Employee Engagement & EVP

Across the industry, company leaders are dedicating more time and resources to employee engagement. From company outings to more transparency and effective use of digital communication, leaders are working hard to ensure that their teams feel fulfilled and engaged in the mission of the organization. Alignment with a company’s employee value proposition (EVP) will continue to be a crucial factor in attracting and retaining top talent.  

Potential recruits have valid concerns about safety and suitable working conditions. This means having a strong EVP that clearly expresses their commitment to employee protection and well-being can make construction overall more appealing to candidates.  

Looking to make your next hire? Get in touch with one of our construction recruitment experts to start your search.