Salaries in Construction Sector Continue to Rise as Competition For Talent Intensifies
Salaries in the construction sector have continued to rise over the last year. Many construction firms are experiencing increased competition to attract talent, particularly professionals like quantity surveyors, engineers and project managers.
According to Azon Recruitment Group’s Salary Guide 2020, salaries in the construction sector rose by approximately 4.5% in 2019, with many companies also improving the overall package on offer in a bid to attract talent.
Stephen Hoban, Associate Director with Azon Recruitment, said: “On average we saw a rise of about 4.5% in 2019 compared to 5% in 2018. There has been a move to focus more on improving overall packages as a way of differentiating and attracting talent. Standard items like car allowances, pensions and health benefits are being enhanced, along with relocation cost coverage, bonuses and other items.
“Rapid career progression is another tactic employed to aid in employee attraction. I have seen new senior hires being offered benefits such as potential profit sharing, and even a position on the company board if they meet immediate project targets. The skills shortage remains consistent with heavy competition for quantity surveyors, engineers, project managers and trades.”
Tom Parlon, Director General, Construction Industry Federation, said: “The industry is now facing skills shortage in key sectors and companies are in a war for talent from the building site to the boardroom. The changing face of construction is generating new job types, particularly in technology driven roles.
“As a result, the industry is now competing in talent pools that other industries have traditionally dominated. In addition, we are now facing a gender equality crisis, that we must address to put our industry on a sustainable footing. The next generation of young employees are increasingly demanding more diverse workplaces, where their work has a purpose and features genuine collaboration. The evolving construction industry is well-placed to provide young people with rewarding, well paid and challenging careers that can see them work globally.”
