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Your sign-on bonuses aren’t working to attract and retain your skilled labor, but they could. With Keep, expect 4X the results of your current practices.
The industry continues to grapple with a shortage of skilled workers. According to a survey conducted by the Associated General Contractors of America (AGC) in 2021, 80% of construction firms reported difficulties in filling both hourly craft and salaried professional positions.
“The construction industry must recruit hundreds of thousands of qualified, skilled construction professionals each year to build the places where we live, work, play, worship, learn and heal,” said Michael Bellaman, ABC president and CEO.
In 2024, the industry will need to bring in more than 342,000 new workers on top of normal hiring to meet industry demand, and that’s presuming that construction spending growth slows significantly next year.
Associated General Contractors of America (AGC)
Keep Financial gives you a flexible compensation platform to offer, send, and manage your sign-on, retention, and performance-based bonuses. With Keep, you can improve your recruiting, retention, and performance through a fully digital, automated platform to deliver upfront compensation earned over time.
Turn-key product and no IT support required
Bonus dashboard with employer and employee views
Employee self-service portal to view milestones and withdraw bonus
Governance and compliance built-in
Finance-friendly, with robust auditing and reconciliation features