Growth in Demand = Need for More/Better Talent
Many areas of the building industry have experienced exponential growth during the pandemic – even despite some supply chain issues which we talk about here.
The top things we are seeing: people are spending money on remodeling their current homes or buying new (to them) homes. What we are also seeing is a boom in specialized projects like ‘smart’ home technology, and there is a lot of money being spent on public infrastructure.
Whether commercial or residential, public or private, one thing that is applicable to all is that the growth in demand equals the need for more qualified talent.
Below are the top trends and our takeaways that you can read-up on before you finish that cup of coffee:
22% of homeowners will spend between $5,000 – 15,000 on projects
Stats indicate that home improvement markets, and building materials suppliers have not been negatively impacted by the pandemic.
Yes, I think we all got that, but the industry is expected to grow throughout 2021/22 and that many consumers are buying their remodeling supplies online.
TZR’s Takeaway
The industry is not slowing down, people being home more often may mean they care more or simply need to make changes to adjust to a new way of working and living.
How many roles are affected by online marketing and ecommerce? Check-out our forecast here where we discuss what changes digital has brought to construction and the home improvement workplace. At TZ Recruiting we think a lot about how technology can assist and support organizations/supply chains and strategize with our clients about effective hiring practices to always be one step ahead.
Global smart home market is predicted to be worth $50 billion+ in 2022
This is important if you plan on selling your home in the near-term. This is also important if you work in the building industry. Including efficient air conditioning and heating systems, and smart tech in just about every area of the home adds value. But what does a focus on eco-friendly renovations that have built-in technology solutions mean for recruiting? It means specialized skills are required at all levels of the manufacturing line from assembly to sales to install.
TZR’s Takeaway
Shifting focus to ‘smart’ technology requires a workforce with specialized knowledge and experience that isn’t easy to find.
TZR has the resources and knowledge to prepare candidates for these fast-paced and expanding roles.
Mortgage applications in the US have risen in the last year
Big drops in mortgage rates have caused an increase in borrowers looking to refinance their home loans.
This resulted in a 192% increase in mortgage applications over last year’s average – that’s a huge percentage and equals increased demand on all of the industries that serve them.
TZR’s Takeaway
A surge in homeownership equals a surge in industries that serve them. Companies need to keep up with the fast pace of development and have the resources and talent to meet and exceed the growing demand.
In order to land the next big project, line review, or commission you need the right people ready to bring it to life as well as those who will carry it through.
TZR addresses these needs in many ways including sourcing talent who can not only meet the demands of the role today but can 1UP in the future. Always having an eye on what is needed now and helping you prepare a succession plan is a TZR specialty. High demand means lots of competition for businesses and, in turn, opportunity for job seekers. Access to and understanding of these high-demand professionals makes hiring more efficient – and experts like TZR essential.
