I recently came across a study that says nearly 90% of skilled tradespeople are satisfied with their careers—and that this number has actually grown since the pandemic. What’s more, more than 65% of pros believe AI (artificial intelligence) won’t replace their jobs, and half are even excited about its potential to help them better serve homeowners. Here’s my question: who did they interview? Because there is a lot of conflicting research out there.
The Skills Shortage
The reality of the situation is the skills today are seriously lacking. We know from the U.S. BLS (Bureau of Labor Statistics) numbers and the U.S. Chamber of Commerce that there are a defined number of jobs and not enough workers or skilled workers to fill them—to the tune of roughly 2.2 million open jobs.
The worker shortage is having dire consequences on many industries such as construction—and the impact can be felt across the globe. We also know ABC (Associated Builders and Contractors) empathically stresses the industry most definitely needs to attract an estimated 501,000 additional workers on top of the normal hiring pace in 2024 in order to meet labor requirements.
When we have interviewed workers on why they are staying, there are those that report they are concerned about the economic climate and others report there is a significant decline in the right job openings. Others say it is not the right time to change jobs in global upheaval. But the reality is there is still a skills shortage.
Is AI the Answer?
Many companies and organizations are pointing to technology being the answer. More specifically, AI can address simple tasks where there is a worker shortage, but the truth is AI has also opened up the talent pool.
Here’s the reality of the situation though. Many companies are trying to leverage AI to maximize productivity rather than downsizing employees—but we all know downsizing will happen in some capacity. Still, technology is inevitable in today’s competitive marketplace—especially as the new generation comes into the workforce.
If companies want to get the best workers out of the younger generations, then they need to promote their commitment to technology and invest in education. I have been doing this a long time, and we can’t start now by giving the market sugar-coated data. We need to give the real facts.
This is all something we studied in depth in our report Who Is the Worker of Tomorrow? We surveyed more than 4,000 people across various industries to unpack the biggest challenges facing the workforce today. The hard truth is there is a paradigm shift happening today, as traditional work cultures shift, and tech becomes more prominent. Companies must prepare for the shift that is happening, if we want to continue to have productive and profitable businesses.
Want to tweet about this article? Use hashtags #construction #IoT #sustainability #AI #5G #cloud #edge #futureofwork #infrastructure #worker