The construction and property sectors, according to an article from NZ Herald, have the fastest job growth upgrade. Demand for workers is a lot higher in these areas, with more than 62% of employees receiving bonuses.
The growth in these two sectors, furthermore, shows no signs of decreasing. In fact, studies suggest that the property and construction sectors will continue to outstrip other industries in terms of demand for talent and activity in the next two years.
High Confidence Levels
The country’s building and construction sector employs 221,000 people or 9.4 per cent of the workforce. Populated areas in New Zealand such as Christchurch, Wellington, Auckland, Hamilton and Bay of Plenty are where majority of the construction work is found.
The good news is that majority of the employers have high confidence levels when compared to other sectors. As a large number of employees receive good pay and bonuses, this indicates strong performance and growth in the coming years. Construction activities, as reported by the Ministry of Business, Innovation & Employment, are likely to grow right across the country.
Expectations and Challenges
With strong growth in this sector, companies are expected to deliver more and continue to provide quality services. RopeAndRailLTD.co.nz notes that business owners need to be mindful about the materials they need to use to complete construction processes. It is important to keep in mind that materials quality management is an essential part of construction quality and requires planning.
The regions of Wellington and Bay of Plenty, which showed strong average growth, needs to keep up with the challenges. The New Zealand Government notes that small businesses predominate the construction sector, with 87 per cent of companies employing nine or fewer workers. Over half of construction workers and businesses, furthermore, are in the construction business subsector.
To meet the growing the demand, businesses need to hire more skilled workers. Those looking to expand their businesses also need to do the same, while also finding dependable suppliers and manufacturers who can provide quality materials for construction.