Jan 24, 2024   SOURCE: BusinessWire

Skillit Launches Industry-First Cost Calculator for Construction Staffing

Skillit, the data-driven recruitment platform for skilled, full-time construction labor, today announced the launch of the first cost calculator designed specifically for skilled labor recruitment. The Skillit Cost Calculator analyzes and combines information including unique respondent inputs, proprietary labor market data from its talent sourcing and intelligence platform and construction industry norms. Standardizing the cost-per-hire evaluation for construction staffing brings the clarity of a single unifying set of numbers to a construction industry fighting to combat a severe shortage of skilled labor.

Key data analyzed by the Skillit Cost Calculator include hiring practices and rates, recruiting staff information and the usage of different sourcing and recruiting channels. Respondents can also provide additional company details including annual turnover, staffing agency fees where applicable, employee salaries and labor costs. For those who do not have access to that level of information or would prefer it to remain private, the Skillit Cost Calculator offers the option to prepopulate these advanced inputs using industry norms.

“The unfortunate reality is that most companies do not know what their fully-baked sourcing and recruiting costs are either at a high level or on a per-hire basis. This is especially true in construction,” said Fraser Patterson, CEO and founder, Skillit. “The Skillit Cost Calculator is our approach to enable recruiters, hiring managers and construction firms in general the ability to measure and compare their efforts, creating standardization for sourcing and recruiting in the industry. By collecting just a few data points, we can illuminate the real cost-per-hire in construction and also provide a framework by which to compare it to other firms. By taxonomizing craft workers’ skills, experience, goals and so much more through our skills-based platform, we’re bringing the entire process from sourcing to recruiting online, ultimately saving everyone time and money.”

Skillit is the only skills-based labor platform built by builders, for builders. With a rapidly growing database of over 30,000 workers, Skillit taxonomizes skilled construction labor into 34 trades, 21 skills groups and over 200 skills by assessing worker data on everything from skills and experience to compensation preferences and future moving plans. Most recently, Skillit’s unparalleled approach to sourcing and recruiting skilled labor resulted in the increase of the qualified HVAC candidate pool by 2x nationwide.

To get your custom analysis, complete the Skillit Cost Calculator here.

About Skillit

Skillit is the only skills-based labor sourcing platform purpose-built for construction. Powered by its proprietary data, Skillit makes sourcing and recruiting craft employees exponentially faster, smarter and cheaper by matching medium and large ENR contractors with highly qualified craft labor. Started by a repeat ConTech entrepreneur with personal experience as a skilled tradesman and general contractor, Skillit is meeting the demands of contractors in the $2.1T annual construction industry. Founded in 2021 and backed by venture capitalists including Bow Capital, Building Ventures, MetaProp and HOLT Ventures, Skillit is delivering meaningful improvements to key metrics for hiring managers including percent of offers accepted and time to hire. To learn more, please visit: https://www.skillit.com/.