The construction industry is facing an undeniable challenge: a persistent shortage of skilled labour. With over 140,000 job vacancies, the UK construction industry is experiencing a significant labour shortfall, delaying essential housing and infrastructure developments1.
However, demand for construction continues to rise, with projects growing and deadlines tightening. With over 75% of the current workforce projected to reach retirement age by 2035 and leave the sector2, the construction industry faces a crucial challenge, retaining experienced professionals while attracting fresh talent to the industry.
With the current cost of living crisis, desirable pay is a step in the right direction; however, this alone is often not enough to stand out. Increasingly, companies are turning to employee benefits such as Private Medical Insurance (PMI) to gain an edge.
Employment in the construction sector has fallen by 10.8% since the Covid-19 pandemic3, with younger generations considering different career prospects4. Competition for talent is fierce, and workers are looking for more than just a day rate or salary. They want security, support, and proof that employers value their wellbeing.
This is where PMI comes in. It’s not just a health benefit; it’s a statement about company culture.
PMI provides employees with faster access to healthcare, specialist treatment, and diagnostic tests outside the NHS system. For workers in physically demanding roles, this means shorter waiting times, faster recovery from injuries, and less time off work.
Key features typically include:
Offering PMI sets your company apart from competitors who focus only on wages. Skilled tradespeople, project managers, and engineers often weigh up benefit packages heavily when deciding where to work. A strong health plan signals that:
In recruitment conversations, PMI can be the deciding factor that draws candidates away from rival offers.
Attracting skilled workers is only half the battle, retention is just as crucial. PMI helps you keep valuable employees engaged and loyal:
PMI doesn’t have to be expensive or complicated. Insurance brokers can help you:
In today’s market, skilled workers have choices, and they’re looking for employers who look after them. Private Medical insurance is more than a perk; it’s a powerful tool to attract, protect, and retain the talent that keeps your construction projects on track.
Whether you’re an SME or a large construction company, our specialist PMI and Construction teams can help you retain and grow your workforce while strengthening your business with tailored PMI solutions. Contact us today to find out more.