More Construction Jobs, More Profit in 2022 (Really!)
Results of the Viewpoint Network Survey
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Trends in 2022
Safety-related vaccine requirements. Labor shortages. Supply-chain bottlenecks.
Sound familiar?
Many of the chronic headaches that stopped work in 2021 are likely to persist in 2022, according to a recent survey of hundreds of members of the Network, Trimble Viewpoint’s online, peer-to-peer customer community of construction professionals.
These predicted challenges for 2022 are about as welcome as an IRS audit, and another year of the COVID pandemic is a sobering thought.
But despite anticipated challenges for the coming year, a majority of the construction community is very optimistic.
Predictions for Construction Work in 2022
So what do construction professionals expect to see in 2022? According to our survey, there is a still an optimistic sentiment, that despite still-turbulent times, building will continue.
- 65% expect larger contract values
- 64% expect more project starts & backlogs
- 53% expect to hire more
- 57% expect to spend more
Hiring more and spending more … during a chronic labor shortage and a complex, higher risk business environment?
That’s right: a significant majority—nearly 2/3 of respondents—expect to do better construction business in the coming year. In fact, this same optimism is mirrored in a lot of industry news at the moment: contractors are laser-focused on staffing, planning and modernizing their operations to meet modern demands.
Whether it’s due to the anticipated federal infrastructure investment as part of the Infrastructure Investment and Jobs Act, the COVID pandemic’s eventual end, or simply the optimism of a new year, construction pros are bullish on the future.
Download the Network Survey results for a complete 2022 preview of the construction industry.
Nearly 2/3 of respondents expect to do better business next year
Biggest Construction Trends in 2022
Construction is the #1 industry hit by ransomware
What are the hot topics of 2022?
Most (24%) members of the Network think Data Security & Cybersecurity will be the biggest trend in 2022. That’s no surprise, considering construction is the #1 industry hit by ransomware, according to Construction Dive.
The next biggest trend is digital technologies that connect workflows and solve cost and margin challenges, at 21%, followed by Data accessibility/mobility (cloud and mobile apps (18%), and Predictive analytics and forecasting/modeling tools (17%).
Further down the list, HR management solutions that help with hiring and retention (13%), and advanced technologies like robotics, machine learning, AI and other tech-enabled automation (6%) are also expected to gain steam in the construction industry
If the turbulent past few years have taught us anything, it’s that business is won and lost through preparation.
What are YOU anticipating in the coming year? Let us know on social media (LinkedIn, Facebook, or Twitter)!
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