Author Jay Bowman takes an in-depth look at how the COVID-19 pandemic fully accelerated changes in the construction industry, and now moving forward, the question is not only how to recover, but also how the future will look.
With sports stadiums and arenas turned into mass vaccination sites, and massive pieces of legislation being pushed through Congress, it has finally become the right time for contractors to focus on the years that come after the pandemic.
This will be an era where many in the current workforce reach retirement age. This labor shortage will arrive while at the same time technology continues to push forward, changing many aspects of daily work life.
According to Bowman, here are 10 important trends for contractors to monitor in the weeks, months, and years ahead:
- The Impact of Minimum Wage Increase
- The Skilled Labor Shortage
- Vaccination of Employees and Subcontractors
- Succession Planning
- Contractual Risk Shifting by Owners
- Cryptocurrency and Blockchain
- Autonomous Vehicles
- Distributed Energy Resources
- Stimulus and Other Infrastructure Spending
- Diversity, Equity and Inclusion