Giants 2018: More money, more problems

Giants 2018: More money, more problems

Yes, the nation’s largest mechanical contractors are reaping the benefits of a booming economy, but they are also facing challenges that range from a tightening labor market to the ever-increasing pace of technological transformation

It has been another strong year for the nation’s largest mechanical contractors. Combined, the companies on our Book of Giants listing made over $28 Billion last year, and most are optimistic about the year ahead.

And why wouldn’t they be? The U.S. economy has just experienced 16 consecutive quarters of growth (source: www.statista.com/statistics/188185/percent-chance-from-preceding-period-in-real-gdp-in-the-us/). The worst after-effects of the Great Recession seem to have worked their way out of the system and the Feds have certainly been making all the right rhetoric about the kind of large-scale infrastructure investment that many big mechanical contractors are ideally positioned to benefit from.

Yet headwinds persist. As I write this, unemployment is under 4 percent for the first time in 17 years. Great news for the economy, but bad news if you’re looking to hire. An additional complication to the lack of warm bodies is the lack of capable hands; an entire generation raised with the belief that the four-year college degree was the ticket to financial security has found itself struggling in the job market, while good-paying jobs in the skilled trades go begging.

In response large mechanical contractors are fighting to gain efficiencies at every turn; to train, equip and prepare their people, to streamline their processes, so that each technician in the field has the impact that two, five, or ten used to.

To try and get a handle on what it means to be a large mechanical contractor in 2018 we reached out to several companies in our Book of Giants to get their opinions on the Marketplace, the Workforce and how they are investing in and using Technology.

Learn more by downloading the CONTRACTOR's 2018 Book of Giants eBook!

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