How to Attract the Next Generation of Home Builders
According to the latest NAHB annual census, the median age of Builder members is 57, rising five years since the inception of the census in 2008. The aging population of trade workers is a major contributor to the labor shortfall. NAHB members continue to report that the availability and cost of workers are among the most significant challenges they face.
“The housing market remains underbuilt and requires additional labor, lots and lumber and building materials to add inventory,” NAHB Chief Economist Robert Dietz stated in a recent Eye on Housing post, noting a potential cooling in the construction labor market. “Attracting skilled labor will remain a key objective for construction firms in the coming years.”
So how can the home-building industry begin to attract more talent to its ranks? Three education sessions at the 2024 International Builders’ Show® (IBS), taking place Feb. 27-29 in Las Vegas, will tackle this issue.
Navigating Generational Differences: How Today’s Leaders Can Attract Tomorrow’s Talent
Tuesday, Feb. 27 | 8:30 - 9:30 a.m.
LVCC - West 229
Discover how generational differences impact how individuals perceive work and their career paths, with a special focus on Millennials and Gen Z. This session will delve into conflict resolution among different age groups, building a compelling work culture that appeals to new generations, and leveraging Gen X leadership and Boomer loyalty to demonstrate pathways for career development and growth.
Unlocking Gen Z: 5 Steps to Attract, Connect & Retain the Future Workforce
Wednesday, Feb. 28 | 10:15 - 11:15 a.m.
LVCC - West 231
Understanding how to recruit and manage each generation, especially Gen Z as it enters the workforce en masse, is crucial to the growing labor issues in the home-building industry. Explore Gen Z’s distinct characteristics and mindset. Discover effective hiring methods such as the iPhone test, their preferred training methods, and how to foster a supportive workplace culture to ensure workforce longevity and success.
Finding a New Generation of Craftspeople: Looking Beyond Traditional Candidates
Wednesday, Feb. 28 | 4:15 - 4:45 p.m.
LVCC - Remodeling Central - West 212
One solution to today’s hiring challenges: looking to other groups of people generally not included in the home-building industry and those often turned off or away. Learn how and where to find this pool of non-traditional candidates, best practices to prepare your company and crews to allow them an opportunity to be field or production personnel, and strategies for making your jobsites more inclusive.
Early registration for IBS is still available. Register today to save and take advantage of these and other important education opportunities.
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Latest Economic News
Inflation in August remained sticky as renewed tensions with Iran continued pushing up oil prices, keeping pressure on the Fed to consider a rate hike at its upcoming meeting.
Existing home sales fell for the third consecutive month as record-high home prices and elevated mortgage rates weighed on buyers. Mortgage rates resumed an upward trend after the July ceasefire ended.
Residential building material prices, excluding energy, rose 0.2% in August and were up 5.1% from a year ago. Energy prices rose sharply in August, as prices for energy inputs to residential construction rose 6.6% over the month.