The global population is expected to grow significantly in the coming decades, driving immense demand for new housing construction. UN-Habitat projects that by 2030, nearly 3 billion people worldwide will lack adequate housing, necessitating over 300 million additional units. Individual countries are also facing major housing shortfalls. For example, the UK has planned construction of 2.7 million new homes by 2030 to address current shortages and population increases.
However, achieving these ambitious housing targets faces sizable challenges. The construction industry worldwide already struggles with worker shortages. If current recruitment and training trends don't improve dramatically, the targets will likely be missed. The impacts of undersupply in construction labour will be severe. Housing demands won't be met, exacerbating affordability and availability crises in real estate. Critical infrastructure projects for transportation, utilities, facilities and more will also fall behind schedule or budget without sufficient skilled labour forces.
Delays in new developments lead to cascading economic effects as well. Growth slows as housing needs of expanding populations and migrant workforces remain unfulfilled. Business faces constraints from lack of commercial and industrial building projects. Overall GDP and standards of living can be directly impacted by shortfalls in construction capacity. Innovative solutions are urgently needed to boost recruitment, reskilling and productivity in the industry. Otherwise the housing, development and economic security of nations worldwide could be seriously jeopardised in the coming decades.
By focusing training efforts on areas facing shortages, or critical areas like health and safety, while nurturing future leaders from within the current labour force, companies can simultaneously cultivate in-demand proficiency levels among staff while planning for forthcoming gaps in institutional knowledge.
SafeXtend aims to satisfy these interlinked needs around skills, labour, and knowledge transfer.