In short, this could simply mean that while record growth within the construction industry is starting to plateau, spending and activity related to projects are most likely going to stay constant through 2019 with very minimal increases in overall spending. However, there are still some key factors that indicate a change is on the horizon. Based on past events with a similarly strong economy, this level of growth and spending is simply not sustainable over a long period of time.
Chief Economist and VP of Dodge Data & Analytics, Robert Murray, believes that a even if the construction industry sees a decrease in activity that doesn’t necessarily mean that the overall state will suffer a decline. It is his belief that overall value and spending on construction starts will achieve a “deceleration…the enhanced level of activity that has been achieved over the past several years.” In essence, the construction industry may fall back to where spending and activity was at its most profitable and sustainable over the past few years; a decline but not drastic.
However, according to Cristian deRitis, the Senior Director of Moody’s Analytics, the biggest red flag indicating an economic decline is the steady but low unemployment rate. Cristian argues that, historically, “any time unemployment hovers around 4.5%, recession comes about three years later.” And, in fact, ever since March of 2018, the unemployment rate has been steadily dropping. With this information in mind, according to Moody’s Analytics and the Bureau of Labor Statistics, this could mean that the economy is due for a recession next summer.
In addition, it is no surprise that the desperate demand for a skilled workforce is effecting the overall health of the construction industry. In a recent survey performed by the Associated General Contractors of America and Autodesk, 81% of those surveyed said they are having a hard time filling craft positions and 56% said the same thing about salaried positions. Where a small number of contractors are attempting to sustain through the labor shortage, the overall problem is that economists agree that is a problem that isn’t going away overnight. Only time will tell how much the construction industry will be able to retain this level of productivity through a long-term labor shortage and consistent low unemployment rates. However, all signs seem to point to 2019 remaining steady and profitable.
The Trillium brand of companies is privately owned by René Poch and provides more than 30 years of industry leading recruitment and staffing services through its divisions including: Trillium Staffing, Trillium Construction Services, Trillium Driver Solutions, Trillium Marine, Trillium Technical, Trillium Environmental, Trillium Hospitality and Trillium Techs. With approximately 100 offices nationwide and nearly 400 internal recruitment professionals, the Trillium brand is proud to be recognized by Staffing Industry Analysts as a Top 25 Largest Industrial Staffing Firm in the U.S., a Top 100 Largest Staffing Firm in the U.S., a Top 100 Fastest Growing Staffing Firm in the U.S., and a winner of National Best and Brightest Companies to Work For. For more information please visit www.trilliumstaffing.com.
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“We have the same commitments to each and every one of our employees as we do our clients. We have high expectations and our requirements are stringent. Once you become an employee of Trillium, we’ll do everything in our power to help you succeed and meet your career goals. When our employees are successful, we’ve done our job,” stated René Poch, CEO.
The Trillium brand of companies is privately owned by René Poch and provides more than 30 years of industry leading recruitment and staffing services through its divisions including: Trillium Staffing, Trillium Construction Services, Trillium Driver Solutions, Trillium Marine, Trillium Technical, Trillium Environmental, and Trillium Techs. With approximately 90 offices nationwide and nearly 400 internal recruitment professionals, the Trillium brand is proud to be recognized by Staffing Industry Analysts as a Top 25 Largest Industrial Staffing Firm in the U.S., a Top 100 Largest Staffing Firm in the U.S., a Top 100 Fastest Growing Staffing Firm in the U.S., and a 2015 winner of National Best and Brightest Companies to Work For. For more information please visit www.trilliumstaffing.com.
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Is there really that big of a difference between retaining existing employees over searching, vetting and hiring a new candidate. Absolutely! In fact, according to Peoplekeep.com, the costs of employee turnover are continuing to increase, as much as 2.5 times an individual employee’s salary, depending on the role. This figure doesn’t even take into account “soft costs” such as lowered productivity and training costs.
So the question remains; how do you increase employee retention? Here are a few simple suggestions to keep in mind.
If you take anything away from this post, please remember that now is the time for retention. Companies need to start treating their employees as true assets and not individuals that can be easily replaced. It’s only when the employee feels appreciated and recognized and the employer understands their worth that true employee retention can thrive.
The Trillium brand of companies is privately owned by René Poch and provides more than 30 years of industry leading recruitment and staffing services through its divisions including: Trillium Staffing, Trillium Construction Services, Trillium Driver Solutions, Trillium Marine, Trillium Technical, Trillium Environmental, Trillium Hospitality and Trillium Techs. With approximately 100 offices nationwide and nearly 400 internal recruitment professionals, the Trillium brand is proud to be recognized by Staffing Industry Analysts as a Top 25 Largest Industrial Staffing Firm in the U.S., a Top 100 Largest Staffing Firm in the U.S., a Top 100 Fastest Growing Staffing Firm in the U.S., and a winner of National Best and Brightest Companies to Work For. For more information please visit www.trilliumstaffing.com.
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Even with the advancement of self-driving cars and autonomous vehicles becoming all the rage, it is believed by many that no amount of technology can fully replace the reaction and thinking capabilities of a veteran Driver. Recently, this topic took center stage at the 2019 Mid-America Trucking Show. As reported by ttnews.com, the outstanding concern for many Truck Drivers in attendance was how quickly they would be replaced with “robot trucks.” However, to help in easing some of the concerns, the panelists, all mainly representatives of various tech companies within the automotive industry, answered questions directly on this topic.
“I can assure you that a young person going into trucking today will retire a truck driver, if he or she wants it,” said Robert Brown, director of public affairs for Tucson, Ariz.-based TuSimple. “The technology really, truly is amazing. I always tell people we can handle the freeways, but we can’t handle the infinite number of things that you all do on a daily basis.”
“I think like everyone else that as long as there are trucks, there are going to be truck drivers,” said Ognen Stojanovski, CEO of San Franciso-based Pronto, a company that makes driver-assist technologies. “But having great eyes and reaction times is not a substitute for having a great brain.”
The fact of the matter comes down to this, while technology in the trucking and automotive industry has broken through many barriers and has exceeded expectations in number of ways, it will not replace the human beings behind the wheel. Their intuition and experience is irreplaceable. Technology’s purpose in these industries to assist those Drivers and make their job easier and safer, not only for the Driver but for the other motorists on the roadways.
The Trillium brand of companies is privately owned by René Poch and provides more than 30 years of industry leading recruitment and staffing services through its divisions including: Trillium Staffing, Trillium Construction Services, Trillium Driver Solutions, Trillium Marine, Trillium Technical, Trillium Environmental, Trillium Hospitality and Trillium Techs. With approximately 100 offices nationwide and nearly 400 internal recruitment professionals, the Trillium brand is proud to be recognized by Staffing Industry Analysts as a Top 25 Largest Industrial Staffing Firm in the U.S., a Top 100 Largest Staffing Firm in the U.S., a Top 100 Fastest Growing Staffing Firm in the U.S., and a winner of National Best and Brightest Companies to Work For. For more information please visit www.trilliumstaffing.com.
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Take confidence in what you have to offer and use a little common sense and you’ll be well on your way to that next big opportunity!
The Trillium brand of companies is privately owned by René Poch and provides more than 30 years of industry leading recruitment and staffing services through its divisions including: Trillium Staffing, Trillium Construction Services, Trillium Driver Solutions, Trillium Marine, Trillium Technical, Trillium Environmental, Trillium Hospitality and Trillium Techs. With approximately 100 offices nationwide and nearly 400 internal recruitment professionals, the Trillium brand is proud to be recognized by Staffing Industry Analysts as a Top 25 Largest Industrial Staffing Firm in the U.S., a Top 100 Largest Staffing Firm in the U.S., a Top 100 Fastest Growing Staffing Firm in the U.S., and a winner of National Best and Brightest Companies to Work For. For more information please visit www.trilliumstaffing.com.
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