According to the latest Contractor Compensation Quarterly (CCQ) published by PAS, Inc., Open Shop contractors anticipate skilled craft hourly wage increases of 3.01% in 2021 (3.21% excluding zeros). Actual increases for 2020 were 2.88% (including zeros) and 3.41% (excluding zeros). These increases are across the board for all craft, contractor types, sizes, and regions of the country. WorldatWork reports 2021 actual construction increases at 3.4% for Non-exempt Hourly Non-union positions. Historically, projected numbers are slightly lower than the actual year end figure.
The chart below shows how open shop craft wages have fluctuated from 2007 to 2020 (these numbers do not include 0% increases).
Turnover
PAS recently completed their 2021 Benefit Survey for Contractors where they seek data on turnover in non-craft positions. The Turnover rate from July 2020 to July 2021 jumped to 17.9%, the highest rate seen since the 2005 – 2006 rate of 16% (think hurricanes and a large backlog of work). In addition to hard numbers, the survey asks perception questions to gauge which positions companies feel they are experiencing retention issues. In the $100 to $250 million revenue range, 68% of survey participants indicated they experienced turnover in the superintendent ranks. In the $250 to $500 million revenue range, 71% said they faced superintendent turnover, and in the $500 million revenue group, 88% said superintendent turnovers occurred. In the less than $100 million revenue companies, 21% to 49% expressed similar experiences.
Need a survey now? PAS offers AGC members a special discount to access PAS products. For more information, contact PAS by phone at (800) 553-4655 or www.pas1.com. You can also find more information & compensation data here (must be signed in with your AGC of America credentials to access).
Jeff Robinson, president of PAS, Inc., is a regular sponsor and presenter at AGC’s Construction HR and Training Professionals Conference.