It’s safe to say that the construction labor market is tight. If you can’t afford to keep your employees, you won’t be able to. And it’s increasingly difficult to attract them in the first place. Here are a few things you can do to ensure that applicants give your contracting business more than a passing glance.
Ultimately, the best way to show employees that you see them as an asset to your company is to pay them accordingly. You can add a lot of other features that could make your job more attractive than the alternatives, but the pay has to be there in the first place. There are a few ways that you can achieve this, such as a higher starting pay rate, sign-on bonuses, or bonuses related to productivity. Think about it this way: If your employees don’t have to worry about how they’re going to pay the bills while working for you, they’ll be more likely to feel comfortable settling in for the long term.
Everyone likes to feel as if they have some control over their careers. Flexibility may be one of the things that drew you to running a contracting business in the first place. Your employees are looking for flexibility, too. Although your company has to meet certain standards in order to function, you might be surprised by the amount of flexibility you can offer. A slight change in schedule, or the option to use paid time off uniquely, might be an enticing benefit that isn’t offered elsewhere.
Sometimes, it may feel like you’re investing too much into your employees to see them take the skills and leave. And yet, upward mobility is something that most employees expect from a career. You would probably be less likely to stay in a job that didn’t have anywhere to go you beyond the first job you landed, especially if it’s entry-level. Instead, ask your employees what they want to gain from the job, and take steps to help them get it. It’s possible that they might use that advantage to get better jobs elsewhere. But if you don’t offer them much of anything in the first place, they’ll almost certainly find better options by leaving.
Experts often say that it’s better to hire the right person to do the work you need them to do, instead of hiring based on the job you need to be done. When you are too focused on the ability to complete the work according to specification, outside of certain licensing requirements, you might miss out on a lot of great candidates. There are more people out there who are interested in learning, and they might have all the qualities of a great employee. If you can find them, it may be less hassle to train them in the job than it is to end up with someone who has the right skills and the completely wrong temperament.
Right now, inflation is a little difficult to manage for most people. If you feel like you’re constantly having to adjust your budget to accommodate higher prices, you’re not alone. But the fast rate of inflation can make it harder for you to make benefits like a higher starting salary meaningful to your employees, once they get settled into the job. After all, that salary might not feel as high if rent goes up another 10 percent in the next year. Revisit the interval in which you offer performance reviews and raises. Sometimes, offering to give someone an update in six months might be enough.
Getting employees to stick with your company takes care. If you start off on the right foot, you’ll reap the benefits. To get started on your contractor career path, contact CSLS today!