HomeInsuranceInsurance Essentials: Don’t cut corners hiring subcontractors because of labour shortages

Insurance Essentials: Don’t cut corners hiring subcontractors because of labour shortages

 

The current labour shortage issue compounds an already tough economic environment for builders and contractors. But hiring uninsured subcontractors isn’t the way to go, as one accident or mishap involving an uninsured worker can devastate your finances and business.

Across Canada, construction firms and general contracting businesses are struggling to find the electricians, carpenters, plumbers and other workers they need to get up to full capacity and complete their projects.

Triggered in part by the pandemic, the labour shortage seems likely to continue. Data from Statistics Canada in late 2021 shows construction trades and labourers are among the top 10 occupations with the largest two-year spike in job vacancies (up by 158.4 per cent vs. 2020) and hourly wage increases (up by 14.5 per cent vs. 2020). That’s a double-whammy of trouble for general contracting businesses…

Read more at canada.constructconnect.com

RELATED ARTICLES
- Advertisment -

Most Popular