Managing wage demands!

The masonry industry is currently booming on a global level!  Post covid spending is through the roof and with this boom comes a dramatic increase for the need for labor, and with that demand comes a demand for higher wages – wages rarely seen before in this industry.

                The evolving dynamics of the industry leaves business and crew managers with the question, how do I manage to provide the best experience for my employees and customers and have my business prosper all at the same time?  An increase in jobs means you must increase your crew to be able to keep up with busy times yet the wages these crews are now demanding make the jobs almost not worth taking.  Do we let the work pass and try and maintain our existing crew? Do we bring on new staff? Do we meet the wage demanded by the new crew? Do we raise everyone’s wage? What about the guy who has been here for five years and has not asked for more money? 

                While all these questions can have different answers depending on the business owner, one thing remains true for all – the business must stay profitable.  The future of your business or crew all depends on your business strategy; if you’re a new and/or growing business now may be the perfect time to take a risk, if you’re an established business with steady work, profitable, and maintain a consistent reliable crew there is probably no need to chase more work. 

As said by Richard Branson, “A company’s employees are its greatest asset, and your people are your product.”  Businesses are a lot like the people that run them and the employees that make them up, no two are the same, but one thing is for sure that finding employees that fit your company culture and morale and finding a way to keep them on your team is the key to being successful in the ever-changing market.