The demand in the construction sector and the decrease in the number of workers have caused alarm to many businesses in the field. Great concern for the possible obsolesce of the industry has set forth steps to retain workers and employ new ones.
Included in the packages that can lure new recruits are benefits and wages system.
Minimum salary bracket varies in different levels in different countries and despite the same issue on the decreasing number of workers, the development of wage remains uneven.
On the first week of September, construction equipment online reported that the United States of America has increased the minimum wage of construction workers by 2.8%, its steepest increase since August, 2015. Still, experts have noted the fact that despite the industry’s continued efforts to accelerate hiring process by offering different beneficial rewards to employees and aspirants, there is still a steady decline. Fortunately, selling and renting of heavy equipment and related sector has improved and developed beyond expectation.
In a collective review of worker wage in the continent of Europe, building sector has been one of the driving forces in their economy. As per reports, 16 million employees are currently registered under this sector. However the real number of workers remains unknown as those working in fraudulent project and takes up illicit work, illegal employment and bogus operations are not taken into account. Pertinent trainings and certification requirements in European regions has made hiring processes a little taxing. Wage fluctuations and exchange rates have also affected the image of the industry.
Belgium, Denmark, Great Britain and Germany have developed systems which increase wages yearly depending on the employees’ performance. Policies and deregulations of the labor market has ushered significant worker relationship and has then done great development in the continent.
Asia, on the other hand, has outperformed most of the world when it comes to development and growth. The leading countries to lead Asia in construction continue to inspire other neighboring countries. Indonesia, Malaysia, Singapore, the Philippines and Thailand have traditionally led the way to attract foreign investment. Singapore and Indonesia both have been in the leading rank and has stood side by side in development.
Axis Capital Group, a Singaporean-based company which sells and rents capital heavy equipment has expanded to Jakarta, Indonesia, a move which has been trending in the last 5 years which also made opportunities for local workers. Industry protests for higher minimum wages have become common place, and the governments of several countries have announced salary hikes. Singapore and Indonesia has been the first two to adhere to the wage increase.