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Construction wage inflation mirrors steep rise in employment levels

03 July 2014

Construction industry salaries rose by an average of 1.8% in the past year and this growth is expected to accelerate in the coming months, according to research from Hays Construction, reflecting the strong employment growth in the sector reported in the latest Markit/CIPS PMI report.

Duncan Bullimore, Director, Hays Construction said: “The continued demand for housing and growth in commercial sector activity means employers are facing fierce competition for staff, and 65% expect to encounter a shortage of experienced applicants when recruiting this year.

Over half of employers expect to increase salaries, the majority between 2-3%, but contractors employing quantity surveyors and planners have reported even steeper salary rises as competition intensifies for skills lost during the recession. The industry needs to act quickly and creatively to address these skill shortages before wage inflation threatens to hamper the growth the industry is currently enjoying.”

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Kathryn Jones
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About Hays
Hays plc (the "Group") is a leading global professional recruiting group. The Group is the expert at recruiting qualified, professional and skilled people worldwide, being the market leader in the UK and Asia Pacific and one of the market leaders in Continental Europe and Latin America. The Group operates across the private and public sectors, dealing in permanent positions, contract roles and temporary assignments. As at 31 December 2013 the Group employed 7,979 staff operating from 240 offices in 33 countries across 20 specialisms. For the year ended 30 June 2013:
- the Group reported net fees of £719 million and operating profit (pre-exceptional items) of £125.5 million;
- the Group placed around 53,000 candidates into permanent jobs and around 182,000 people into temporary assignments;
- 29% of Group net fees were generated in Asia Pacific, 40% in Continental Europe & RoW (CERoW) and 31% in the United Kingdom & Ireland;
- the temporary placement business represented 59% of net fees and the permanent placement business represented 41% of net fees;
- Hays operates in the following countries: Australia, Austria, Belgium, Brazil, Canada, Colombia, Chile, China, the Czech Republic, Denmark, France, Germany, Hong Kong, Hungary, India, Ireland, Italy, Japan, Luxembourg, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Portugal, Russia, Singapore, Spain, Sweden, Switzerland, UAE, the UK and the USA