As the construction industry moves towards a long-awaited recovery, the leaders of the CN100 companies are increasingly concerned about a shortage of skilled staff.
More than three-quarters of the construction leaders that were surveyed for the Construction News Barometer in August said a lack of skills or staff was the biggest challenge their business faces in the year ahead.
Research from construction consultancy Leading Edge shows that during Q2 2013, 38 per cent of construction professionals surveyed reported having to turn down work because they did not have enough resource.
It follows that while winning work remains the priority for contractors, recruiting, retaining and training staff and managing labour costs has shot up their strategic agendas.
Given the expected rise in demand for staff, it is not surprising that the collective wage and salary cost of the CN100 companies has risen by 4 per cent compared with a year ago.
The total value of remuneration for the most senior staff, including directors, at the top 100 contractors has increased by 1.4 per cent, although the average total director wage bill has remained static at £1.2m. The average staff salary across the CN100 is up 5 per cent.
Who are the top 100 contractors in the UK construction industry? The CN100 is now live online.