Maximizing Value: Benchmarking Your Construction Workforce Benefit Program to Industry Standards4/25/2023 Angela Robbins Taylor
Executive Director As a construction employer, offering a competitive benefit program is crucial for attracting and retaining skilled workers. However, with so many options available, it can be challenging to determine what benefits to offer and how to ensure they are competitive. That's where benchmarking comes in. What is Benchmarking Benchmarking involves comparing your construction workforce benefit program to industry standards to ensure you are providing competitive offerings. Here are five steps to help you benchmark your benefit program to industry standards. Step 1: Identify Key Benefit Areas The first step in benchmarking your benefit program is to identify key areas to compare. Some common areas to benchmark include health insurance, retirement plans, paid time off, training and development, bonus and incentive programs, employee assistance programs, and work-life balance initiatives. It is not necessary to have all these benefit areas and it is not advisable to try to benchmark all programs at one time. Identifying a few key areas to tackle at a one time is the best strategy to creating a practical and scalable plan for change if needed. Health Insurance Providing comprehensive health insurance coverage is a significant benefit for construction workers. Retirement Plans Offering retirement plans, such as 401(k) or pension plans, is crucial for helping workers save for their future. Paid Time Off Paid Time Off (PTO) policies include vacation, holidays, and sick leave. It is important to ensure workers receive appropriate time off and maintain work-life balance. Training and Development Construction workers value opportunities for skill development and career advancement. Training and development programs might include apprenticeship opportunities and certifications but should always ensure workers receive necessary training and growth opportunities. Bonus and Incentive Programs Implementing performance-based bonus and incentive programs can motivate workers and reward exceptional performance. Employee Assistance Programs Offering employee assistance programs (EAPs) can provide workers with resources for mental health support, counseling, and other personal challenges. Work-Life Balance Initiatives Work-life balance initiatives, such as flexible work schedules, remote work options, and family-friendly policies, can attract and retain workers seeking a healthy work-life balance and are increasingly important to younger generations entering the workforce. Step 2: Collect Data Once you have identified the key areas your company will benchmark, you will need to collect data. This can involve researching industry norms and best practices, analyzing data from surveys and studies, and reaching out to industry peers to gather information on their benefit programs. Making sure your data is accurate and correlates to what is reported for industries will help when seeking to compare your programs to those offered across the construction industry. Step 3: Compare Your Program to Industry Standards After collecting data, you can compare your benefit program to industry standards. This involves analyzing your benefit offerings and comparing them to what other construction companies offer. You can use data from surveys, industry reports, and other sources to determine where your benefit program falls in comparison to the industry. Additionally, serving on a committee for HR or Talent Development with an association will provide insight into industry trends and analysis of your data for your benchmarking efforts. Step 4: Identify Gaps and Opportunities Based on your comparison to industry standards, you can identify any gaps or areas where your benefit program may fall short. You can also identify opportunities to improve your program and offer more competitive benefits to your construction workforce. Step 5: Make Changes Once you have identified gaps and opportunities, you can make changes to your benefit program to align with industry standards. When looking for ways to implement changes, it is often advisable to engage those that will be rolling out the new programs to assess feasibility and structure as well as those that will be receiving the new benefits. Ensuring that everyone sees value in the change prevents the need to re-align programs that do not generate the intended impact. Best in class Talent Management Benchmarking your construction workforce benefit program to industry standards can help you attract and retain skilled workers and stay competitive in the labor market. By identifying gaps and opportunities and making changes to your benefit program, you can offer a more attractive package that meets the needs of your workforce. Benchmarked programs are always the best in class and the ones that attract and retain the best talent. Construction Career Collaborative (C3) encourages you to join our Talent Management Committee to boost your efforts to benchmark and create the highest quality engagement for your construction workforce. Contact Nick Guidry at nick@c3.org to learn more.
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Nick Guidry, MBA, M.Ed., SHRM-SCP
C3 Relationship Manager In the highly competitive commercial construction industry, having a skilled and well-trained workforce is paramount to winning bids, forecasting staffing, and ensuring company sustainability. To meet the industry's demands and overcome the shortage of qualified workers, contractors must forge partnerships with skilled trade partners such as community colleges, trade schools, professional trade associations, and organizations like C3. Today, we will examine the benefits and advantages of these skilled trade partner collaborations in supporting and enhancing the current industry workforce and the commercial construction workforce of the future. 1. Skilled Trade Partner Relationships Increase Access to Diverse Talent Pools: Partnering with training providers opens doors to a vast and diverse talent population of aspiring craft professionals. Community colleges and trade schools offer programs that equip students with the knowledge and practical skills needed for various roles in the construction industry from operations-focused professional staff to craft workers trained in the latest technical competencies. By establishing relationships with these institutions, contractors gain access to a pipeline of potential employees who are eager to enter the workforce. This ensures a continuous supply of skilled workers to support ongoing and future projects, reducing the time and effort required for recruitment. 2. Partners allow you to Tailor your Training Programs: Training providers are experts in developing curriculum and training programs; however, with the assistance of the contracting community serving in an advisory capacity, these programs and curriculum sets can be tailored to the needs of the construction industry. By collaborating with these institutions, commercial construction contractors can contribute to the design and implementation of specialized training programs that align with their specific specialties and anticipated industry needs. In this model, the industry becomes the skilled trade partner to the education system and curriculum developers. This ensures that workers are equipped with the necessary skills and knowledge to excel in their roles. Contractors can actively participate in shaping the training curriculum, incorporating industry best practices, safety standards, and emerging technologies, resulting in a workforce that is well-prepared to tackle complex construction projects and reduce the need to upskill on the job site. 3. Develop Industry Insights and Networking: Trade associations and industry-specific training providers offer more than just technical or professional education. They provide valuable industry insights, updates on regulatory changes, and networking opportunities. By partnering with these organizations, contractors gain access to a wealth of knowledge, trends, and advancements in the construction industry. They can stay informed about the latest technologies, materials, and construction techniques. Additionally, networking events and conferences organized by these entities allow contractors to connect with industry professionals, fostering collaboration, sharing best practices, and staying ahead of the competition. 4. Partnering with Apprenticeship and Mentorship Programs: Collaborating with training providers enables contractors to establish apprenticeship and mentorship programs. These initiatives provide a structured learning environment for aspiring craft professionals, combining classroom education with on-the-job training. Contractors can recruit apprentices and provide them with hands-on experience under the guidance of experienced mentors. This not only helps fill the skills gap but also ensures the transfer of knowledge and expertise from seasoned professionals to the next generation of craft professionals. Such programs promote long-term loyalty, as highly skilled craft workers become loyal employees who contribute to the contractor's workforce success. Partnerships between contractors and skilled trade training providers are a win-win situation for both parties. By collaborating with community colleges, trade schools, industry trade associations, and organizations like C3, contractors gain access to a pool of talented individuals, benefit from tailored training programs, tap into industry insights, and establish workforce initiatives. These partnerships create a skilled and well-prepared workforce that drives the success of commercial construction projects while addressing the industry's labor shortage. Need help finding the right partners for your program? Reach out to C3 today for help! Angela Robbins Taylor
Executive Director Collaboration is key to success in the construction industry. In an era where projects are becoming increasingly complex, construction owners must recognize the value of collaboration and actively foster a collaborative culture. By working together with stakeholders, contractors, and designers, construction owners can unlock numerous benefits that lead to project success. In this article, we will explore five significant advantages that collaboration brings to construction owners. Enhanced Project Planning and Design: Collaboration allows construction owners to tap into the expertise of architects, engineers, and contractors during the project planning and design phases. By involving key stakeholders from the beginning, owners can gain valuable insights and perspectives. Collaborative discussions enable the exploration of innovative ideas, identification of potential challenges, and development of practical solutions. This collaborative approach results in well-informed decisions, optimized designs, and more efficient project planning. Improved Project Cost and Schedule Management: Collaboration plays a crucial role in effective cost and schedule management. By involving contractors and suppliers in the planning stages, construction owners can benefit from their practical expertise and accurate cost estimations. Collaborative scheduling ensures that all stakeholders are aligned on project timelines, milestones, and critical path activities. This alignment minimizes delays, reduces costly change orders, and enhances overall project efficiency, leading to better cost control and timely project delivery. Scheduling through collaboration Collaboration in scheduling needs to include:
Utilizing digital plans and platforms to achieve better schedule adherence is possible in real-time with all parties. Proactively looking at the work schedule with the input of trade partners and designers can impact schedule adherence. Through identification of work overlap and more accurate planning for when arrival of workforce and materials on jobsites the team can effectively prevent slow down or stoppage of workflow. Enhanced Risk Mitigation and Problem Solving:Collaboration enables construction owners to proactively identify and address potential risks and challenges. By bringing together diverse perspectives, owners can conduct comprehensive risk assessments and develop strategies for mitigating those risks. Collaborative problem-solving fosters a proactive approach to resolving issues and ensures that potential roadblocks are addressed efficiently. This proactive stance helps owners minimize disruptions, maintain project momentum, and ultimately achieve successful project outcomes. Increased Quality and Innovation:Collaboration promotes a culture of continuous improvement and innovation within construction projects. When owners collaborate with contractors and designers, they encourage open dialogue and the exchange of ideas. This environment nurtures a sense of ownership and shared responsibility for project outcomes. Through collaborative efforts, construction owners can harness innovative solutions, cutting-edge technologies, and industry best practices. This leads to enhanced project quality, optimized construction methodologies, and increased client satisfaction. Strengthened Relationships and Stakeholder Satisfaction:Successful collaboration builds strong relationships among all project stakeholders. By involving contractors, designers, and suppliers throughout the project lifecycle, construction owners establish a sense of trust, respect, and teamwork. Strong relationships foster effective communication, transparent decision-making, and efficient conflict resolution. Collaborative efforts also result in increased stakeholder satisfaction as their needs and expectations are prioritized. Satisfied stakeholders are more likely to become repeat clients and refer to the owner's services, which enhances the owner's reputation and business growth. Collaboration making building better:In the construction industry, collaboration is a powerful tool that construction owners can harness to drive project success. By embracing a collaborative approach, owners can benefit from enhanced project planning and design, improved cost and schedule management, effective risk mitigation, increased quality and innovation, and strengthened relationships with stakeholders. Ultimately, collaboration empowers construction owners to deliver projects that meet or exceed expectations, ensuring their long-term success in the industry. To learn more about how owners are collaborating for better quality built environments sign up for the C3 News brief today. |
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September 2023
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