Polling 1,001 full-time home and building contractors, the new DeWalt Powering the Future survey has found that 55% of U.S. contractors feel a lack of skilled workers is a barrier to growing their businesses. Among businesses with $10 million plus in revenue, that percentage is 69%, and those with 20 or more years’ experience, 64%. To address the concern, 48% believe that training the next generation of skilled workers is one of the industry’s most critical needs to have growth and future success in 2023.
In addition to training the next generation, contractors shared that contingency planning/risk management (37%) and resilient supply chain solutions (37%) are also critical elements to growth next year. Regarding challenges, the survey showed that the three most significant ones among contractors are inflation (57%), finding skilled workers and/or being understaffed (51%), and working long hours (37%).
Since 2019, 56% of contractors have been working more hours. Mechanical (68%), plumbing (66%), and electrical (60%) contractors have been more likely to have seen an increase in labor hours. Almost 40% say longer hours have made their jobs more difficult, and 39% have found that the importance of employee mental health and well-being is a key takeaway from the pandemic.
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