The following articles are excerpts of important topics and research information.  Full content is made available to CFA members through the website you will access with the QR Code following each piece.  Note:  If you are already logged in, the code will take you directly to the article.  All article content will also be available from the member landing page.  These articles are contributed by our resource partnerships to advance your advantage in the marketplace, plan based on industry influences, or challenge your practices and processes.

For more information on CFA membership, please contact Skye Kelley, skelley@cfaconcretepros.org or visit us at www.cfaconcretepros.org/join-us.

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This article is provided by ITR Economics in partnership with Concrete Foundations Association.

RECORD RETAIL ACTIVITY

Annual US Total Retail Sales (deflated) are rising at the fastest pace in the 74-year data history, up 13.9% from 2020. Strong consumer trends – including a low debt-to-income ratio, elevated savings to tap, and low unemployment – are contributing to record-high Retail Sales. Despite rising US Consumer Prices (up 7.5% over the last 12 months), consumers have thus far been willing and able to swallow increased costs. With record-high Retail Sales comes the inevitable need for expanded capacity, both for the production and transportation of goods. Some snags, however, are impacting the movement of goods, and we expect such problems will persist in the coming quarters.

RECORD SHORTAGES OF WORKERS

The unprecedented labor shortage is a significant impediment to our ability to move goods around the country. Annual average US Total Transportation, Warehouse, and Utilities Job Openings are 50% above the pre-pandemic record high. In contrast, US Total Nonfarm Job Openings are up 34%.

For the trucking industry, labor shortages are nothing new. For years, transport services have struggled to fill job openings and expand capacity to meet rising demand. There are several factors at play:

Existing truck drivers are reaching retirement age.

New truck fleets include more technology to which drivers must adapt, along with new regulations and safety standards.

Unappealing hours and time spent away from home factor into many trucking jobs.

While employers have used every tool at their disposal to attract new drivers – including higher wages, better benefits, and bonuses – the shortage has held.

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This article is provided through the PR/PR Public Relations partnership with Concrete Foundations Association.

CONSUMER INSIGHT IS CRUCIAL TO CLOSING A COMPLEX SALE

By Jill J. Johnson, MBA

A sale is classified as complex when it involves a high degree of risk and uncertainty and when the process involves more people than just the final consumer. As more people are involved in a sales decision, the sale becomes more complex. 

Complex sales are not resolved in one single interaction. When there are multiple decision points, the real goal is to keep the conversation moving forward toward the next decision. Recognize there are competing goals at play, too. Your goal is to make the sale; their goal is to make the right decision based on their wants, needs, and budget. Your prospect also might be considering competitive offerings, so keep the conversations going about you and what you offer.

PSYCHOGRAPHICS DRIVE BUYING BEHAVIOR 

In target marketing, there are eight different major variables you can use to define your target audience. When you are looking at a complex sale, the most critical component to understand is the psychological make-up of your prospect. This is referred to as the psychographics of your customers. What drives them and what drives their buying behavior? 

DECISION TRIGGERS MOVE SALES DECISIONS

After you gain a foundational understanding of your consumer’s characteristics during a complex sales process, you need to find out what will trigger your consumer to make the final decision to purchase your product or service.  Whatever decision triggers might influence your prospect, be sure you address them in your sales presentation.

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This article is provided through the PR/PR Public Relations partnership with Concrete Foundations Association.

SIX WAYS TO GET REAL WITH YOUR EMPLOYER BRAND

By Jeremy Eskenazi

Employer branding is the external perception of what it’s like to work at your company. It has always existed in some form, but recently, it has not only become more planful, but it’s also become a lot more important. Employees always have choice, let’s remember that first. It means that if the experience of working at your company is not good, they have as much ability to leave as you do to end their employment. It will likely be a lot easier for them to find a new role than it will be for you to replace them, and their experience does not end when they leave. Employees are your most important source of distinguishing your employer brand – both positively and negatively. 

A manufactured employer brand is very easy to spot – it’s high polish, very diverse, and has a lot of smiling people. This may be false representation, but where a lot of creative agencies have made their money. Fast forward now to Employer Branding 2.0. Nobody is buying the lie! Employer Branding 2.0 starts with authenticity and transparency of what it’s really like to work at your company.  

To help avoid costly recruiting cycles, or a lack luster pipeline of interested candidates because people are reading or hearing that working for your company is terrible, remember that employer branding has a very long reach. Here are the six top ways to get real with your employer branding (if you care about things like retaining your top people and attracting more who can knock it out of the park!):

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This article is provided by MatchBuilt an industry resource for recruitment strategies and consulting as an offer to members of the Concrete Foundations Association.

TOP RECRUITMENT STRATEGIES FOR

CONSTRUCTION COMPANIES

By Mark Matyanowski

The pandemic exasperated an already significant shortage of skilled construction workers at nearly all levels, and construction companies’ recruitment strategies have never been more critical. Brent Darnell International (www.brentdarnell.com), a company that teaches emotional intelligence in construction, has even said that there’s a “war for talent” now in the construction market.

The Home Builders Institute suggests that 740,000 new construction workers are needed each year for three years to account for attrition. “The construction industry needs more than 61,000 new hires every month to keep up with both industry growth and the loss of workers either through retirement or simply leaving the sector for good,” said Home Builders Institute CEO Ed Brady. “From 2022 through 2024, this total represents a need for an additional 2.2 million new hires for construction, and that’s a staggering number.”

With this in mind, we’ve crafted this guide of the top recruitment strategies for construction companies, and we’ll take a step-by-step look at how you can put the odds in your favor.  Let’s see!

Step 1:Build Your Brand for Better Communication

Step 2: Source the Best Qualified Employees

Step 3: Crown Your Efforts By Interviewing the Right Way

Step 4: Offer Continuous Training for Your Newly Hired Employees

The Concrete Foundations Association will offer three specific presentations during #CFACON22 in Boston this July that address the importance of Culture, Hiring Systems, and Definition of Expectations to drive the growth needs of organizations.  For more information, visit the event calendar at www.cfaconcretepros.org.

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