Skills “time bomb” as 400,000 workers set to retire

CITB

Contractors are facing a future skills crisis with more than 400,000 people set to retire during the next 5-10 years.

 

 

The CITB is warning that contractors must act now to fill the void created as:

 

  • 19% (equivalent to 406,000 people) of the UK construction workers aged 55+ are set to retire in the next 5-10 years;
  • 24% (equivalent to 518,000 people) of UK construction workers aged 45–54 are set to retire in the next 10-20 years;
  • 37% of the UK construction workforce is self-employed and 23% (equivalent to 182,800 people) of those are set to retire from the industry in the next 5-10 years

 

Interim Chief Executive of CITB, William Burton, said:

 

“Not taking action now to encourage young people to join the industry – and investing in the training to up-skill our existing workforce  –  is no longer an option.

 

“The construction sector is essential for local and national economic growth and to avoid the similar skills crisis that affected the industry in the early 1990’s, we urge employers to act now.”

 

[Source: CITB http://www.citb.co.uk/ ]