Construction Technology Helping Industry Power Through Labor Shortage

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Rob

The labor shortage remains a thorn in the side of construction companies. Forbes reports that construction experiences more impact due to this issue than any other sector, including hospitality and tourism.

In September, the National Federation of Independent Business reported that 51% of small construction companies couldn't fill job openings, more than 22% above the historical average.

Construction and real estate make up 18% of the US economy, but the mismatch of supply and demand has spurred the need for at least one million more construction workers, including skilled laborers. This unmet need, in turn, feeds inflation as buildings cost more to produce. As a result, the Case-Schiller U.S. National Home Price Index jumped by 18.6% over the last year, the fastest rise in the Index's history.

However, construction tech startups offer new tools to help maximize currently employed construction workers.

Bridgit, a ConTech software company, seeks to disrupt construction with optimized workforce management.

hh2's Remote Payroll, another software solution, abolishes paper time cards. Instead, supervisors can enter time for their crews using an app on tablets, smartphones, or desktops. Remote Payroll pulls jobs, codes, and employee data from the company server into the cloud to pre-populate time entry records with current data. Employees can enter time daily, weekly, or by job code.

These and other ConTech solutions can be massive timesavers as the construction industry struggles to find that million needed workers.

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