In the March issue of R&R, Phil walked through his industry predictions from 2018 and revealed how he scored on each. His predictions included labor shortages and wage increases, industry pricing challenges, more TPA influence, growth of outside groups, and projections on weather-related events. To see how he fared, check out his March article! This month, he’s sharing his predictions for 2019!
My number one prediction for this year remains unchanged: labor shortages. Labor shortages continue to be a big issue in most restoration companies today. If unemployment goes from 4 to 4.5%, this will have little impact on your business. Looking through postings on various LinkedIn pages shows literally hundreds of open positions at various restoration companies. One company I am familiar with stated they currently have hundreds of open positions in their company alone!