We know the labor shortage is a challenge for many industries, including construction. Perhaps the question we should begin asking is what are the reasons for staying and what are the reasons for leaving. At the end of the day, we need to identify how to best retain talent, and there are a few new predictions that point to big trends.
Perhaps one of the best places to start is with pay. The 2023 ASCE (American Society of Civil Engineers) Civil Engineering Salary Report cites an average annual salary of $128,000. Base salaries have risen by approximately 7% from 2022 to 2023, up from approximately 6% from 2021 to 2022 and 5% from 2020 to 2021.
Now, to be clear, this is focusing on a very specific segment of the AEC (architecture, engineering, and construction) industry. The ASCE Salary Report is released every fall, collected from responses of society members about their jobs and financial compensation. This year’s report is derived from more than 3,200 member responses.
The report also shows high job satisfaction and opportunities for career growth in 2023. Of the salary survey respondents, 66.3% reported being satisfied or very satisfied with their financial compensation, up from 63.3% in 2022. That number was even higher, though, when asked about overall job satisfaction: 85.2% said they were satisfied or very satisfied with their civil engineering jobs.
More than nine in 10 respondents receive health and insurance benefits through their employer and nearly 76% are offered telework options.
Certainly, this is hopeful for the future, with job satisfaction rising among engineers. But let’s take a broader look at employee turnover and how to retain employees in 2023 and into 2024.
iHire surveyed 3,710 job seekers and 405 employers from 57 industries. It has discovered that voluntary quits are relatively steady year-over-year. In fact, 43.3% of respondents quit a job in the past 12 months, compared to 41.2% who said the same in 2022. Employers are also seeing steady turnover rates—and those who have experienced turnover said all or most was due to voluntary quits.
This report also corroborates the evidence from the ASCE Salary Report. Survey respondents expressed greater job satisfaction in 2023 compared to 2022. Some of the top reasons for staying include a pay raise, more flexible schedule, clear growth and advancement opportunities, and more. Some of the top reasons for leaving include toxic or negative work environment, being unhappy with manager and supervisor, lack of recognition or appreciation, poor work life balance, and more.
Consider your company and your employees today. What opportunities are offered? What opportunities are not? How can job satisfaction be increased? These are all things to consider as we head into 2024.
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