Labour shortage to grow more by 65%: Survey

By Accommodation Times News Service

According to a survey done on the labour force in the real estate industry as the workforce is moving from the traditional construction and also real estate sector to service industry like banking, telecom ,IT and ITES which will lead to a shortage of labour to go up by 65% in the next few years. The shortage will pegged to go up by 65% by the next some years with more workforces moving from traditional brick and mortar industry like the construction and real estate sectors to service industry.

Advancement in technology have helped business by making it faster and cost effective the realty industry too is waking up to benefits offered by technology and is looking at it as one the solutions to tackle the labour crisis in the market. Citing the reason for the labour shortage Knight Frank India said, for the last few years the shortage of skilled manpower is on the rise. With the urbanization of rural areas many projects are taking off in the non-metros destinations. Hence the migration has slowed down. With opportunities available closer to home the preference is to stay put. Also over the years many engineers have preferred to take up cushy desk jobs over grueling site jobs. Many engineers have excelled in finance and other glamorous jobs.  Many feel that government schemes like the National Rural Employment Guarantee Act (NREGA) are also contributing to the shortage of labour. Support from the government is crucial for the training of skilled laborers. They should promote and support recruiting training institutes that train laborers with specific skills. Bringing technology to the real estate industry is a very expensive proposal. The government should lower the costs involved in hiring machines and promote their use in industry. It   involves discipline and planning.

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