The Importance of Housing Starts to the Recruitment Market
The seasonal nature of construction can sometimes make it tricky to predict hiring needs in the industry. While housing builds are historically, and regularly, low in February, factors like weather and other economic influences can drive demand up or down suddenly. Housing starts, the number of new residential construction projects that have begun during any particular month, are one of the driving factors for hiring across the industry, but can sometimes be unpredictable. June of 2019 saw over 245,000 new construction projects started; the highest number of projects since November of 2019 and well beyond estimates. Housing starts, of course, are good news for the industry – more projects means an increase in jobs and the need for talent in fields from construction crews to building materials supply and manufacturing.
The industry as a whole, however, can easily find itself with too many vacancies and jobs to fill if housing starts increase quickly and beyond estimates. This can leave firms of all sizes understaffed, leading to lost projects, lost revenue, and reduced reputation. Even without unexpected increases in construction projects, any firms across North America report the need to fill positions at a higher rate than previous years with many stubbornly remaining unfilled.
How can you handle a sudden hiring need if the housing market has an unforeseen uptick in projects? Since there is already a seasonal nature inherent to the construction industry, some firms and manufacturers can easily onboard temporary or interim help to allow them to handle the increase or downturns in business. But other organizations may not have a temporary talent pipeline line or need more experienced, permanent staff members.
One of your best bets for finding talent faster, allowing you to keep up with project demand, is to work with an experienced industry staffing group. With the increase in housing projects, the need for finding qualified talent quickly will be crucial in meeting project demands, including finishing on time and on budget. Our expert recruiters and established talent network help you connect with the right talent at the right time. Contact TalentSphere Staffing Solutions today to start your search.