Many of my monthly columns focus on the energy and environmental aspects of sustainable roofing, but economic factors are just as important – especially at a time when it’s difficult to recruit and retain the best employees. A survey recently released by the Associated General Contractors of America (AGC) reveals:
These troubling statistics will likely impact your business in many ways during 2017. First, it’s almost a given that your hourly labor costs will go up this year; and they will probably increase at a much higher rate than in previous years. In addition, as you may have experienced in the past, it’ll be difficult to pass on the costs to your customers as fast as you have to pay the new wage levels. Finally, given the challenges of finding good supervisors and managers, your administrative costs are likely to go up as well, increasing the overhead “bite” for every job.