RC’s annual Commercial Roofing Report will be published as part of the December eMagazine next week, but until then, we offer a quick glance at some of the key figures and data points that emerged from our industrywide survey. Here’s five things to know about the 2022 Annual Commercial Roofing Report.
Who’s Got the Goods?
- Well over half of contractors (61%) identified material shortages as their top overall challenge. That’s not that far off from 2021 survey data, which indicated 56% of contractors were mainly concerned with finding products to complete jobs. However, what did stand out from last year was the shift in concern over increased material costs (from 71% to 52%) and lack of qualified workers (from 60% - 57%) as perceived industrywide challenges.
- A total of 72% report increased sales volume growth from 2021. As in previous surveys, commercial roofing contractors signaled their optimism in the roofing market when it came to sales. That’s even when timelines, delays and price volatility impacted the industry.
Steady Sales Ahead
- Roughly three-quarters (between 72% to 79%) anticipate growth in commercial sales volume next year and through 2025. Despite being pushed to near-recession levels by lingering economic uncertainty, for the fifth consecutive year in RC’s survey, more than 65% of contractors again anticipated sales growth year-over-year for the next three years.
Attention on Retention
- Just under half (44%) of commercial roofing contractors identified employee retention as a problem within the past 12 months. To address it, the majority of contractors said they increased pay and bonuses. About 70% noted the ability to ensure enough work and another 64% said their emphasis on safety helped.
Who’s Got the Workers?
- An overwhelming majority (82%) said finding new workers was their leading workforce challenge. About 75% use employee referrals, and more than half said they rely on online job postings, family referrals and social media to recruit.