By Laura Softley , GL UW Operations Manager
Insurance agents and brokers have seen firsthand how their business clients in certain industries have been impacted by the ongoing labor shortage. One industry that has been hit particularly hard is construction. In fact, experts believe the construction industry has experienced a near-crisis-level shortage of workers and is now facing a potential deficit of approximately 1 million construction professionals in 2023.
Today, it is estimated there are approximately 25% more unfilled construction positions in the U.S. than there are workers to fill them. If you’re an insurance professional with construction business clients, the good news is that in the past 10 years, the sector has experienced a slow yet steady increase in women assuming a number of key roles, according to the National Association of Women in Construction and reported by Engineering News Record. The industry hopes this increase will help to close the employment gap.
Support and diversity can help pave the way for increased opportunities
A key barrier for women entering the construction industry has been the lack of resources and support. Recognizing that this issue must be proactively addressed to ensure the long-term vitality of the industry, organizations such as the National Association of Women in Construction and Women Construction Owners & Executives USA are focused on providing mentorship, marketing and networking opportunities for women who may be considering a career in the construction industry.
In 2022, the Groundbreaking Women in Construction (GWIC) conference, a leading talent development and networking event, became a catalyst for many women who were looking to be a part of the industry. In addition to professional training for women, the GWIC remains focused on teaching women in the industry how to address pay inequalities in the construction workplace.
A more gender-diverse industry is also helping to open doors for women in construction. It has been show in the past that gender diverse construction companies have achieved greater profitability than businesses that aren’t focused on diversity. Today, as a greater number of construction companies acknowledge and advocate for diversity in the industry, more opportunities for women will open and begin to close the gender gap.
“[More construction] companies are vocalizing their increased support, actively participating in movements and providing monetary support to women’s causes. There has never been a better time to be a woman in construction,” according to the Engineering News Record.
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