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Posted by Jim Fearon, Vice President, Central North America on Thursday, Jun 5, 2014
Following the economic downturn in 2008/09, many employers downsized, but since then work has picked up and with that, so has hiring. Skill shortages continue across the country, causing wage and retention pressures.
As most construction companies are experiencing growth while the economy strengthens (61 per cent of employers surveyed anticipate the economy to have a positive impact on business activity in 2014), employers must hire new staff to up-skill and to handle the increased business volume.
In addition, competition for talent is increasing between provinces, meaning high quality candidates are presented with a wide selection of job opportunities and are receiving multiple offers, causing further pressure on industry salaries.
Skills shortages in 2014 are anticipated by 90 per cent of employer respondents. The most severe shortages are being seen in the Mechanical & Electrical Contractor sector, where over half of those surveyed anticipate significant to extreme skills shortages in 2014. The most challenging positions to recruit for are Project Managers, Superintendents and Estimators.
In the current competitive recruitment climate, it is essential employers determine whether salaries and overall compensation offered are in line with the market rate. Take a look at the 2014 VRCA Salary Guide to get a cross section of average salaries for construction management professionals in Vancouver. We are proud to partner with the VRCA on this 6th edition, providing employers with the leading recruitment insight.