The construction industry is facing its share of pressure against the backdrop of a challenging or uncertain economic environment. Persistent inflation across the UK and Europe has made it increasingly difficult for construction companies to meet contractor pay expectations while maintaining a healthy bottom line. For many construction professionals, the allure of a contractor pay rate is a more compelling reason than ever to start a new assignment.
But what can employers do to hire a site or project manager when construction pay rates are keeping flat? Even in an uncertain market, it is possible to get creative and make contracts more enticing without breaking the bank.
Why do Non-Financial Benefits Matter?
The engine light is on for employers when it comes to pay and benefits. As CIPD research highlights, in the UK alone, 6.5 million workers are likely to quit their jobs within the next year, with many seeking better remuneration including benefits.
This trend highlights how necessary it is for employers to consider non-financial factors in enhancing their contractor pay rates. Here are a few benefits you can offer to sweeten the deal for critical roles:
Examples of Contractor Benefits for Construction Jobs
Consider Offering Long-term Contracts
Offering contracts that extend beyond the typical term can be a major drawcard for in-demand technical professionals. Project timelines permitting, an extended contract can offer a greater sense of job security and income predictability – two immensely attractive propositions at this time.
Implement a Rewards and Recognition Programme
Acknowledging achievements is a crucial morale booster for any project manager or engineer. Including your contingent workforce in your company’s reward and recognition programme is an excellent way to make contractors feel valued and more likely to stay on or return for a new assignment.
Provide Professional Development Opportunities
The best technical and managerial minds tend to seek opportunities to grow their skills and knowledge. Identify a few programmes or resources that can benefit your current contractor teams and provide them with intellectual stimulus – think workshops, seminars, or online courses. For instance, contractors can be given access to specialised software courses. A related approach is to develop a mentorship programme, giving senior contractors an avenue for sharing their expertise with younger workforce cohorts, which can be highly rewarding for both.
Offer a Performance Bonus
For specialised roles or areas where it’s especially challenging to hire construction contractors, you could consider offering additional payments, based on the achievement of specific targets or project milestones. Bonuses could be based on the completion of projects or specific milestones by a given deadline, or on quality of work (i.e. zero defects), cost savings, or an accident-free safety record.
Make Expenses Reimbursable
When it comes to expenses, the little things sure add up! And for those making a major move for a new position, a few large expenses will be a factor as well. That’s why we find covering contractors’ expenses is a powerful recruitment tool.
Contractors who are relocating for a role or working on job rotations will find travel and accommodation reimbursements especially appealing. Other expenses may include equipment and supplies, or meals and per diems for working away from home. Covering the costs of any training sessions or certifications needed for the project can also make for attractive job propositions.
Hire Skilled Construction Contractors with Konstrukt
Incorporating non-financial benefits can be a highly effective strategy for engaging more specialised and in-demand construction contractors. Your company’s project requirements, budget and other factors will influence how many extras you can offer, so it’s sensible to start with one or two of the most targeted benefits.
Non-financial benefits can help your business create a more attractive and supportive work environment, with all the positives that brings for productivity and engagement.
To bolster your contractor hiring, it also helps to work with a talent partner who can guide you with key intelligence on contractor pay rates and benefits by role and region.
At Konstrukt, we understand the intricacies of the construction recruitment market. Our expertise in hiring construction managers and our deep knowledge of construction manager pay trends across Europe make us an essential partner for your recruitment needs. Contact us to discover how we can help you source critical talent and stay ahead in this competitive sector.
