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McKinsey: Technology helps construction address staffing issues

McKinsey: Technology helps construction address staffing issues

 


An aging workforce and rising demand for labor are among the major challenges facing the U.S. construction industry, according to a McKinsey study.

The U.S. skilled labor market is struggling to balance the demand and supply of workers. Construction is two of the hardest hit sectors, along with manufacturing, while healthcare and finance have also seen significant employee turnover and a lack of trainees and graduates to replace them. ing.

According to the Organization for Economic Co-operation and Development (OECD), the ratio of working-age to retired-age workers in the U.S. skilled labor market is expected to increase from 1984 to 2027.

According to McKinsey, demand for talent is increasing, especially in the construction industry, as infrastructure projects and real estate redevelopment ramp up.

According to the report, the global renewable energy industry will need an additional 1.1 million blue-collar workers to develop and build wind and solar farms between 2024 and 2030, and an additional They will require 1.7 million workers to operate and maintain them.

McKinsey notes that enterprise-level strategies alone are not sufficient to address pipeline-wide issues. These problems require new solutions, developed through collaboration between the private sector, government and educational institutions, the report said.

McKinsey: Technology can ease construction staffing issues

However, the report goes on to identify three ways technology can be used to address workforce challenges at an organizational level.

Leverage generative AI to help onboard and train new employees genAI allows new employees to track their tasks and answer questions in real-time, says McKinsey. This will allow companies to retain scarce skilled workers, it added. His McKinsey, which automates tasks to free up employee time so they can focus on more value-added work, uses cobots alongside human workers to automate repetitive tasks. He gives the example of a heavy equipment manufacturer that frees up employees' time. More complex and analytical work. He says this can increase productivity by up to 40% and resource utilization by up to 50%. Deploying technologies that enable remote working and flexibility Digital twins and remote control technologies will enable technicians to operate and debug factory equipment from anywhere in the world, McKinsey says. As a result, he can reduce vacancies by 25% due to increased flexibility, potentially making him twice as productive.

It emphasizes that productivity is an important consideration. The report said productivity growth in developed countries has slowed by about 1% since the 2008 global financial crisis.

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