DEWALT® Powering the Future Survey Sheds Light on Impact of Skilled Labor Gap
DEWALT surveyed 1,000 residential and commercial construction professionals about the challenges facing the industry, the demand for skilled labor, and the importance of training and mentorship programs to power up future generations of construction professionals.
The Skilled Labor Gap Is A Barrier to Growing Business
- More than half of contractors say finding skilled workers is a significant challenge
- 48% believe training the next generation of trades professionals is one of the most critical needs for success
- More than half (55%) say a lack of skilled workers is one of the biggest barriers to growing their business
- Rising to 64% among those with 20 years or more of experience, and 69% among businesses with $10MM plus annual revenue
Business Has Increased Since the Onset of the Pandemic, but With Lasting Challenges
- Business has increased but inflation is making it more difficult for contractors to keep up
- 56% of all contractors surveyed say they have worked longer hours since 2019
- 40% say longer hours have made their jobs more difficult
- Contractors have seen an increase in hours:
- 68% mechanical
- 66% plumbing
- 60% electrical
- The importance of mental health and employee wellbeing and properly managing project timelines are the biggest learnings moving forward
Closing the Skilled Labor Gap
- 9 in 10 say that the skilled labor gap is having at least a minor impact on their work
- Nearly half say the lack of awareness of careers in construction or vocational programs or underestimation of how much money can be made in the industry are primary causes of the skilled labor gap
Top Reasons Mentorship Is Important
- 61% say that mentorship programs provide the latest training to young professionals
- 58% say that mentorship programs foster the next generation of construction workers
- 55% say that mentorship programs increases awareness and excitement about construction as a career
- 49% say that mentorship programs create a professional network
- 46% say that mentorship programs help build a sense of camaraderie
- 97% say that mentorship programs are important to prepare the next generation of workers
- 71% of contractors with extensive experience (20+ years) and 78% of contractors with high business revenue ($10MM or more) find mentorship programs to be extremely important
Powering Up the Jobsite
- Seven in ten say that having best-in-class tools and equipment helps them feel prepared to tackle challenges on-site
- One-third say innovation in tools and equipment is important to future success
- Because of tool advancements:
- 55% of contractors say they have increased efficiency
- 51% have increased user control
- 36% have improved their quality of work
Join us in empowering those who make the world. For more information, visit www.dewalt.com.
About DEWALT
DEWALT, a Stanley Black & Decker brand, is obsessed with how users work in the real world and is relentlessly pursuing total jobsite and landscaping solutions. By incorporating its latest technology and industry innovations, DEWALT is leading the charge for the jobsite of the future and pioneering the next generation of outdoor equipment. DEWALT products. GUARANTEED TOUGH®. For more information, visit www.dewalt.com or follow DEWALT on Facebook, Twitter, Instagram, and LinkedIn.
About Stanley Black & Decker
Headquartered in the USA, Stanley Black & Decker (NYSE: SWK) is the world's largest tool company operating manufacturing facilities worldwide. Guided by its purpose – for those who make the world – the company's approximately 60,000 diverse and high-performing employees produce innovative, award-winning power tools, hand tools, storage, digital tool solutions, lifestyle products, outdoor products, engineered fasteners and other industrial equipment to support the world's makers, creators, tradespeople and builders. The company's iconic brands include DEWALT®, BLACK+DECKER®, CRAFTSMAN®, STANLEY®, CUB CADET®, HUSTLER® and TROY-BILT®. Recognized for its leadership in environmental, social and governance (ESG), Stanley Black & Decker strives to be a force for good in support of its communities, employees, customers and other stakeholders. To learn more visit: www.stanleyblackanddecker.com.
