The latest salary survey from Construction Management suggests employers will need to offer more than competitive pay to keep people satisfied.
Construction professionals remain confident about their career prospects and continue to command strong salaries, but employers need to offer more than competitive pay to attract and retain talent, according to new research from Construction Management.
The latest Construction Management Salary and Market Trends Survey takes the temperature of the industry at a time of economic uncertainty, changing workloads and rapid technological development.
Its findings point to a workforce that remains broadly optimistic about the future of construction management – but whose expectations of employers are changing.
The research explores attitudes towards pay, job security, career development, work-life balance and wellbeing, alongside the employment benefits that matter most to construction professionals.
It also examines how satisfaction varies between different groups of respondents and considers the relationship between salary and wider perceptions of work.
The survey highlights the importance of looking beyond pay when considering employee retention. Career development, recognition, flexibility and wellbeing are increasingly important parts of the employment offer, according to the findings.
The research also provides a snapshot of the construction management workforce, including its age profile, employment status and gender balance – issues with significant implications for succession planning and the industry’s efforts to attract new talent.
Professional membership is another area explored in the report, with the findings examining whether membership influences confidence, career prospects and attitudes towards the future.
Claire Hodgson, divisional director of construction at V7 Recruitment, said employers need to recognise that money is only part of the equation when it comes to retaining experienced professionals.
“A lack of recognition or a clear route to promotion is often what prompts a move,” she said. “Companies with a proper development plan tend to retain people better.”
The full Construction Management Salary and Market Trends Survey contains the detailed findings, data and analysis. Download the report below.
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