Commercial construction and excavation support systems companies have faced challenges throughout 2020 and into the first quarter of 2021, but they see a bright future on the horizon. While the construction and excavation support systems industries dealt with concerns regarding finding skilled workers and the availability of materials amid the Covid-19 pandemic, they did much better than other sectors of the U.S. economy.
And, despite some questions that still linger over hiring and equipment, companies in the commercial construction and excavation support systems industries are optimistic that they will see a rise in revenue through the rest of 2021.
As for support for the high hopes that these companies have for the future of their businesses? Data provided by the U.S. Chamber of Commerce Commercial Construction Index reveals that contractors in the commercial construction and excavation support systems sectors expect their revenue to increase over the next year.
What Do the Numbers Say About the Outlook for Companies in Commercial Construction and Excavation Support Systems?
First-quarter data provided by the U.S. Chamber of Commerce Commercial Construction Index reveals that 36% of the contractors in the commercial construction and excavation support systems industries expect increased revenue through the end of 2021. This is a jump from 25% in the fourth quarter of 2020.
Additionally, 87% of those queried expect to bring in at least the same revenue numbers as in the fourth quarter of 2020. Most of the contractors surveyed have a moderate to high level of confidence in the U.S. commercial construction and excavation support systems markets throughout early 2022.
How Does Hiring Look for Companies in Commercial Construction and Excavation Support Systems?
Nearly half of the contractors surveyed (46%) said they planned to employ more workers in the next six months of 2021, a leap from 37% in the fourth quarter of 2020. The same percentage of contractors said that they would keep their current number of employees throughout this year, with only 3% stating they would reduce their staffing.
U.S. Chamber of Commerce Executive Vice President and Chief Policy Officer Neil Bradley says of hiring in the commercial construction and excavation support systems sectors, “As vaccines continue to roll out, contractors are expecting to hire more workers and anticipating good times ahead. The industry still has a way to go to return to pre-pandemic levels, but rising optimism in the commercial construction industry is a positive sign for the broader economy.”
He also stressed that finding skilled workers in the wake of the coronavirus pandemic will be challenging, but it is a challenge that the U.S. Chamber is committed to overcoming alongside businesses in the construction industries. The U.S. Chamber plans to support companies in retraining employees and ensuring the economy has skilled workers in the workforce.
How Do Businesses Attract Skilled Workers for Jobs in Commercial Construction and Excavation Support Systems?
Even though there are many positive signs of recovery in the commercial construction and excavation support systems industries, both of these sectors are still short on skilled workers. For the first quarter of 2021, 89% of contractors reported that they are having a moderate to high level of difficulty attracting skilled employees, a jump from 83% in the fourth quarter of 2020.
How, then, do hiring managers in these industries attract skilled workers who will help them take their businesses to new heights in 2021 and beyond? First, they continue to set a standard for excellence on the job site. Then, they turn their focus to recruitment by highlighting company culture.
When excavation support systems companies like Schnabel Geostructural Design & Construction look to hire new employees, they focus on talent as well as the character of the team that works for them. Schnabel currently employs more than 200 workers who play major roles in the completion of their geostructural projects, but these employees offer so much more to the culture at Schnabel at large.
By providing an innovative and exciting place to work, one where employees are valued and are invited to continually advance in their careers, the entire team at Schnabel can thrive. Schnabel empowers its employees, at every level, to contribute to the success of the company. It rewards those who have a personal commitment to excellence and a desire to advance the interests of the company.
As the U.S. economy moves out of the destruction that the Covid-19 pandemic brought, and managers and workers at companies look toward some sort of economic normalcy, it is hopeful to see a company like Schnabel looking to bring so many fresh team members on board.
Schnabel Geostructural Design & Construction is currently looking for qualified workers to fill positions like:
- Project Manager
- Research and Development Engineer
- Equipment Mechanic
- Safety Professional
- and Skilled Construction Laborer
And, the company offers excellent benefits to its salaried employees, such as medical and dental insurance, vision and life insurance, a profit-sharing plan, paid time off, paid holidays, and tuition reimbursement.
Why Will Innovation Play a Role in the Future of Construction and Excavation Support Systems?
If we learned anything from the coronavirus pandemic, it was that businesses will always need a plan for change. Moving forward in all U.S. economic sectors, we will see more companies place importance on adaptation and innovation – at least the ones who want to be successful in the future.
Commercial construction and excavation support systems companies like Schnabel will need to rely on their strong successes of the past – their many years of perfecting their construction methods – and they will also need to continue to innovate with new design processes and cutting-edge technology.
Schnabel knows that new ideas move companies – and their workers – forward. It currently holds more than 20 U.S. patents related to geostructural construction and it has many new patents in development.
Many Schnabel employees work in the company’s research and development division, which is solely responsible for developing new ideas and finding better ways to serve customers in light of current market conditions.
With a spirit of innovation, safety, and entrepreneurship, Schnabel continues to attract new talent and move forward in a post-Covid-19 economy. Other companies that wish to do the same, will also need to cement themselves as problem solvers and forward-thinking professionals in the geostructural industry.