Despite a decline in projects, candidates in the construction industry are in for a bright future.
The summer of 2024 is over, and reality is knocking on the door – especially for the construction industry. With residential development at historically low levels and financial ruin on the rise for many companies, it’s hard to avoid a gloomy mindset.
But amid the economic headwinds, there’s a glimmer of light: sustainability and technological innovation point towards a greener and smarter future for the construction sector.
Despite the tough times, there’s hope to bounce back stronger than ever – and you as a candidate have a lot to gain by using this time to be proactive in your career.
Economic difficulties have led to a sharp decline in housing construction in Sweden. The construction companies’ economic forecast for 2025 predicts that only 30,000 homes will begin construction, far below the 67,300 annually needed according to Boverket, the National Board of Housing, Building, and Planning.
At the same time, many construction companies are facing severe financial problems, and the number of bankruptcies is expected to rise. The situation is exacerbated by the increased cost of building materials and general economic uncertainty. This also impacts employment within the sector, putting many jobs at risk.
That’s why you should think proactively about your career.
A proactive career means staying active in the job market, and to never stop exploring opportunities, even if you’re comfortable at your current job.
With many companies in the construction industry facing bankruptcy, the risk of sudden layoffs is higher. Leverage your network and keep an eye out for open positions, even if neither you nor the companies in question are seriously considering hiring right now.
This gives you a lifeline: by already being in touch with other companies, you can find a new job far quicker than if you start from scratch when the need arises – at the same time as everyone else.
Being proactive does require a bit of extra effort, but it gives you an invaluable edge over the competition. It allows you to take control of your career, use your time to your advantage, and create flexibility and readiness for the future.
You might even find a better job thanks to your forward-thinking. A great example of people who’ve succeeded through proactivity in their careers are the hundreds of housing builders who have transitioned into data center construction with our help.
We’ve helped 6,500 people in the built environment industry think proactively about their careers – just in the past two years. Of those, about 25% said job security is important to them.
With that knowledge in hand, we offer you personalized advice and industry insights to help you make intelligent decisions. When you’re ready, we can match you with a company that perfectly suits your preferences and timing.
In all these challenges, there are also opportunities. The green transition and digitization of the construction industry bring hope for a brighter future, as more and more construction companies realize the importance of investing in sustainable solutions and energy-efficient materials.
Meanwhile, new technologies like BIM, robotics, and 3D printing are revolutionizing how we plan, build, and maintain our structures. By embracing these trends, the construction industry can not only tackle current challenges, but also position itself for the future.
Investing in skills, innovation, and sustainability will be crucial for companies that want to survive and grow in an increasingly demanding market.
Being proactive in your career means not just keeping up with the competition, but actually setting the pace.
Whether you’re seeking new challenges now or want to strengthen your position, it’s wise to act while you have the time: time will pass anyway, so wouldn’t it be nice to be prepared when the industry turns around again? Create a plan for where you want to go in the future, acquire new skills, and stay informed about news in your field.
We’re here to help!
Want more career tips & insights into the built environment industry? Find more on our blog!