By Ro Bhatia, CEO, PlanHub
2023: The Year Technology Takes Over Construction
Across all industries and sectors, 2022 brought some of the most complicated challenges businesses have had to face. As we head into 2023, several of those same challenges and complications still need to be resolved and will continue into the new year. One industry that will continue to face prolonged difficulties into and throughout 2023 is the construction industry. While it was able to weather the economic pandemic slowdown, it is not immune to the issues of labor demand, volatile pricing, and inflation. Thankfully, there is still a light at the end of the tunnel, and the construction industry can build the road to it, given the right tools and technology.
Lack of Skilled Labor
The story of labor shortages in the construction industry is not new. It is a tale as old as the hammer and nail. According to a survey completed by PlanHub, both general contractors and subcontractors responded that their top concern in 2023 will be the difficulty in finding skilled workers to hire. These labor complications don’t just end there. Labor shortages can create a wave of adverse ripple effects, including delays in accepted projects, price increases on future or ongoing projects, or, even worse, contractors or subcontractors having to turn down projects because they lack the workforce to see them through.
