According to a recent survey by ProSight Specialty Insurance, the greatest safety risk for the crane industry is a lack of skilled workers – especially in the position of crane operator. Talent was also tied just behind the pandemic for the second biggest business challenge for crane companies over the next three years (along with growth / new business).
“It is no surprise that Crane companies are still feeling the impact of COVID on their business and will likely continue to do so for some time, but it is beyond their control,” he said Jake Morin, Executive, Construction Value Added at ProSight. “The shortage of qualified talent is a legitimate concern and the problem has obvious safety and sustainability risks for the industry as a whole. Now is the time for the industry to take action on its talent pipeline.”
ProSight’s survey of 150+ crane industry professionals in late 2020 found that 26% of respondents viewed COVID as the industry’s biggest challenge, but saw a lack of “skilled talent” as the next biggest challenge (9) %) in the next 1-3 years.
When asked what the most serious security risks to the industry are, 27% of respondents said the lack of talent, especially among operators, is the biggest problem. Equipment problems (15%) and accidents at work (13%) rounded out the three most important safety risks, with COVID only being identified by 2% of those surveyed.
ProSight’s niche underwriting manager for its crane program, Joe Doerrhas personal experience with the industry’s talent pipeline issues. As a former crane operator, Joe has made a strong commitment to improving training and safety protocols for operators and other construction professionals. But he also sees the need to balance this investment with additional recruiting efforts to attract the next generation of talented engineers to the industry.
“I’ve been ‘in the booth’ as they say and I know firsthand the importance of having well-trained and experienced operators at work. I also know that this can be difficult for companies Finding ‘next generation’ of “qualified talent,” Doerr said. “But the truth is, operating a crane requires an enormous amount of mechanical skill and understanding of numerous engineering principles. This can be an incredibly rewarding and enriching career path, and we need to come together to find ways to bring the value of the industry to college and university students and young professionals who would otherwise not pursue a career in construction. “
Click here to download the ProSight 2021 Crane Survey infographic.
For more information on the ProSight Crane program, please visit www.prosightspecialty.com/solutions/crane
Methodology: The study was carried out via an online survey among 154 potential sickness customers who did not belong to ProSight Specialty Insurance. Audiences were defined as crane rental companies, crane operators, riggers, equipment operators, or those belonging to a crane membership group using LinkedIn demographics. The poll ran from December 15 to 31, 2020.
About ProSight
Founded in 2009 and headquartered in Morristown, New Jersey, ProSight Global, Inc. is an innovative property and casualty insurance company developing unique insurance solutions to help customers improve their business and realize the value of their insurance purchase decisions. The company focuses on selected niche industries and uses differentiated underwriting and claims expertise to improve the operational performance of each customer. ProSight’s products are sold through a limited and select group of retail and wholesale partners. Each ProSight Regulated Subsidiary is rated “A-” (Excellent) by AM Best. ProSight shares are traded on the NYSE under the ticker symbol PROS. To learn more about ProSight, visit www.prosightspecialty.com.
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Joe Hathaway
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SOURCE ProSight Global, Inc.
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