Tampa Bay area construction companies will need to recruit 5,580 more workers in 2023 in addition to the normal pace of hiring. This forecast is a per capita estimate based on research from Associated Builders and Contractors (ABC).  

The frenetic pace of recruiting construction workers in Tampa Bay is expected to extend into 2024, with an incremental 3,311 workers needed next year, as well, in addition to the normal pace of hiring.

Overall, the demand for construction workers in America has been increasing at an epic rate.

According to ABC, the construction industry averaged more than 390,000 job openings per month in 2022, the highest level on record, and the industry unemployment rate of 4.6% in 2022 was the second lowest on record, higher than only the 4.5% unemployment rate observed in 2019. In addition, national payroll construction employment was 231,000 higher in December 2022 than in December 2021.

Right now, filling open jobs at any Tampa Bay company is a struggle.

A recent survey by the National Federation of Independent Business Owners found that after inflation, the most critical problem facing these businesses is the inability to recruit and retain quality employees.

Right now, says the Federal Reserve,  unfilled jobs remain near an all-time with 1.7 openings per unemployed person.  As a result, only one person is being hired per every four job openings.  To put this dismal hire-to-opening ratio in perspective, ten years ago, there was one hire per every job opening.

Compounding the recruitment woes of Tampa Bay's small business owners is the very stubborn quit rate.  According to the Federal Reserve, for every ten hires made, seven current employees quit. 

So, how can local builders and contractors fill the open jobs at their companies? Most metrics indicate that advertising on Tampa Bay Radio may be the best way.

West-central Florida business owners have depended on Tampa radio to market their goods and services since WDAE, the city's first radio station, went on air in 1922. Despite the advent of new media and technologies since then, advertising on local radio stations is still the best way for the area's 123,853 small business owners to create and maintain customers.

Here are five facts every business owner should know about advertising on Tampa radio in 2022.

Construction companies in the Tampa Bay area will need to recruit 6,600 blue-collar workers on top of the normal pace of hiring in 2022 to meet the demands of the current building market. These statistics are based on forecasts from Associated Builders and Contractors, Inc. (ABC), an association comprised primarily of U.S. firms that work in industrial and commercial construction sectors.

"The construction industry desperately needs qualified, skilled craft professionals to build America," said Michael Bellaman, ABC president and CEO. "The Infrastructure Investment and Jobs Act passed in November and stimulus from COVID-19 relief will pump billions in new spending into our nation's most critical infrastructure, and qualified craft professionals are essential to efficiently modernize roads, bridges, energy production, and other projects across the country. More regulations and less worker freedom make it harder to fill these jobs."

The construction industry's appetite for new hires in the Tampa area will continue into 2023, according to ABC. It is expected that during that year,  an additional 5,991 blue-collar workers in addition to the normal pace of hiring.

There are 123,853 small businesses in the Tampa-St. Petersburg-Clearwater, FL Metro Area, according to the US Census Bureau. Based on projections from the National Federation of Independent Business Owners (NFIB), nearly half of these companies have job openings they cannot fill.

As a result of the acute labor shortage, says the NFIB, 29% of small business owners rank the quality of labor as the most important problem they face. A year ago, only 21% said finding workers was their biggest issue.

The labor crunch in the Tampa Bay area is being driven, in big part, by a record-high number of employees voluntarily quitting their jobs. Just last month, according to the US Bureau of Labor Statistics, 4.5 million employees across the country left their current place of employment.

According to the Wall Street Journal, those who are not currently working say they are in no hurry to return to the workforce. The lack of urgency stems from five primary reasons:

• 29% say they don't need to work right now because their spouse is employed
• 28% say they cannot return to work because of care responsibilities at home
• 25% say they don't need to return to work because they have a financial cushion
• 20% say they are fearful of returning to work because of COVID-19
• 5% say they do not need to return because of current unemployment benefits

There seems to be little chance that these resigned workers can be lured back into the labor force. Therefore, to fill open jobs, local business owners will need to focus their efforts towards recruiting among Tampa Bay's "passive" job candidates.

To ensure success, every Tampa Bay business owner needs to advertise.

"Think you have a great product?" asks the US Small Business Administration. "Unfortunately, no one’s going to know about it unless you advertise.”

The SBA goes on to say, “Advertising, if done correctly, can do wonders for your product sales, and you know what that means: more revenue and more success for your business.”

There are dozens of ways for local small business owners to advertise. By most metrics, the best way to advertise is on Tampa radio. These measures of effectiveness, however, are often obscured by the glimmer and glitz of newer technologies. 

To help reduce the glare that often blinds business owners to the potency of advertising on Tampa radio, here are the top five things many local business owners get wrong.

Based on projections from the National Retail Federation (NRF), Tampa Bay consumers are on track to spend $46.3-billion with retailers by the end of this year. This would be 13.5% higher than was spent in 2020.

To earn a significant share of these retail dollars, Tampa Bay area business owners are expected to spend $1.6 billion to advertise by year's end, according to Borrell Associates. This company tracks advertising expenditures in local markets across the U.S.

To ensure they are spending their advertising and marketing dollars wisely, many Tampa Bay business owners research how to best target prospective customers by using local media. An exceptional resource for local business owners to investigate the media habits of localconsumers is on the advice section of AdvertiseInTampaBay.com.  

Here are the top five most-read articles on the site in 2021:

If you were one of the 2.2 million adults who tuned in to Tampa radio last week, then chances are excellent that you heard advertising for ZipRecruiter.  That's because the company purchased 1,436 advertisements to air on local stations during the month of August, according to Media Monitors.

ZipRecruiter is an online recruitment site that helps companies of every size advertise open jobs. Overall, more than 2.8 million companies have posted an opening on ZipRecruiter.com

It is no wonder that ZipRecruiter and its competitors like Indeed have been making significant advertising investments on Tampa radio. Finding qualified workers is one of the toughest challenges facing local business owners. According to the Bureau of Labor Statistics, the number of job openings in the U.S. has reached a record high 10.1-million jobs with just not enough candidates to fill them.

If you've heard these commercials on Tampa radio, then you know that ZipRecruiter is not advertising to attract job seekers to its website.  Rather, the company's goal is to convince local business owners to buy help wanted ads from them.

So, why has ZipRecruiter chosen Tampa radio as a business-to-business (B2B) advertising resource?  The first reason is revealed in the first line of their commercial.

"According to research," says the announcer, "82% of people remember radio ads."

The number of job openings in the Tampa Bay area has exceeded pre-pandemic levels, according to the Bureau of Labor Statistics.  Businesses of all sizes are adding employees in a big way, according to the ADP Research Institute, but still, large numbers of positions remain unfilled.

With the Florida unemployment rate still around 5%, Tampa Bay business owners wonder why they are having difficulty attracting applicants for open positions.

According to a recent article posted in The Economist, there are two major reasons why many sidelined workers aren't anxious to come to work. The first is fear.

Tampa Bay small business owners need employees...desperately.

According to a report from the National Federation of Independent Business, 26% of small business owners say finding qualified workers is their number one problem. 

The report goes on to say that 88% of small business owners looking to hire new employees are finding there are no qualified candidates.

The historically low unemployment figures in Tampa Bay appears to be the root cause of local hiring woes. The metro area's jobless rate stands at 3.4%. There are just not enough qualified workers to go around.

Most small business owners have exhausted the traditional methods of recruitment. These include online job board posts, newspaper ads, referral bonuses, and help wanted signs. All to no avail.

To successfully attract the qualified applicants they yearn for, local small business owners need to command the attention of 'passive' job seekers. The number one source for these candidates is Tampa radio.

If you were one of the 2,193,604 adults who tuned-in to a Tampa radio station last week, it is likely you heard a commercial for Indeed.  That's because, last week, Indeed, the world's largest online job site was also radio's biggest advertiser.

The reason Indeed invested so heavily in radio advertising is that they have far more job openings posted on their site than there are job-hunters to fill them. 

This is not unlike the predicament of Tampa Bay small business owners who are also having difficulty finding and hiring qualified candidates.

What Indeed has figured out is that there are not enough unemployed people or disgruntled workers looking for jobs, especially among those in white-collar professions. So, the company is looking to attract what human resource experts call the 'passive job seekers'.

It turns out that advertising on Tampa radio is also the best way for any business owner to recruit, hire, and retain those passive, white-collar job seekers.