Welcome to the weekly recap of the biggest news stories affecting the window and door installation, glazing, and fenestration industries. Whether it's a new product line, an important industry shift, or a major upcoming event, we have it all covered.
Since the beginning of the pandemic, labor shortages have affected the entire construction industry. However, the window and door sector, in particular, has been affected big time, and the wages demanded by workers are proving it.
According to data released by the U.S. Bureau of Labor Statistics (BLS), the lowest pay that workers would be willing to accept for a new job is $73,667. This is the highest expected starting wage ever reported since they started tracking data back in 2014.
November's report from the SCE shows respondents under 45 were much more likely to expect a higher wage when starting at a new company than older workers.The continued upward trend is most likely driven by the increase in salaries over time. However, it’s also showing that workers are becoming increasingly more satisfied with the non-wage benefits of their jobs.
Since the pandemic took off in March 2020, wage demands have increased by 19.4%. Plus, employees without a college degree saw an even higher increase in expected earnings. Their average reservation wage increased by 27%.
Many tradespeople in the window and door industry, including installers, fall into this 27% gap as several have opted for alternative education as opposed to seeking a degree. For window and door owners, this means likely having to fork over even more to entice new workers to hop on board at your window and door company.
While non-monetary benefits are still important, they’re somewhat expected at this time. It’s crucial to find creative ways to offer unique benefits to attract new employees while figuring out how to employ new workers at a reasonable wage
Registration for the 2023 Fenestration and Glazing Industry Alliance’s annual conference just opened up and you’re gonna want to reserve a seat. The event will take place in person in Coronado, California, at Loews Coronado Bay Resort from February 13 to 16.
In January 2020, the Insulating Glass Manufacturers Alliance (IGMA) and the American Architectural Manufacturers Association (AAMA) united to form a single body in the FGIA, short for the Fenestration and Glazing Industry Alliance (FGIA).
The upcoming annual event is open to FGIA members and non-members alike. The conference will include various hands-on, roundtable activities, fun networking events, local experiences, and opportunities to network with peers from various market segments.
FGIA’s conference also offers virtual attendance with various online activities for those unable to travel to Coronado. Registration can be found here at fgiaonline.org.
In November 2022, a car crashed into an Apple Store in Hingham, Massachusetts, causing one death and several injuries. Victims of the car crash are now filing a lawsuit against Apple. They’re also suing the manager, owner, and even the store developer, stating the incident could have been avoided.
A personal injury lawyer, Doug Sheff, representing several victims, believes Apple’s all-glass storefront isn’t designed to prevent motor vehicle tragedies.
According to an interview with WBX-TV, Sheff stated that Apple should have installed cement barriers in their storefront, preventing serious injury and death. And the Storefront Safety Council reported that over 800 accidents involving cars crashing into buildings occurred in Massachusetts between 2013 and 2022.
Businesses typically use tempered or laminated safety glass for their storefronts. While Apple, and several other modern businesses seek to design their stores with innovation in mind, it’s important to understand the risks of working on these types of projects.
Window and door contracts that are design-heavy can be more liable than traditional projects. Make sure your company ALWAYS double-checks for potential safety risks, as developers and your window and door business could be liable in case of a post-construction accident.
New single-family housing constructions continue to fall as we enter the new year.
Since February 2022, the overall construction rate is down 32%, according to the National Association of Home Builders. The housing market continues to struggle due to inflation, high construction costs, and weakened demand.
Compared to 2021, single-family construction projects are down 9.4 percent. It has been a rough ride for window and door installers in the single-family sector.
While the road behind has been tough, and the road ahead looks to be concerning for single-family installers, there’s an opportunity for those willing to pivot their business.
Even though single-family homes have been negatively impacted, multifamily construction projects (apartment buildings and condos) increased by 4.9%.
If you’re a window and door installer, you may want to consider branching out and hunting down leads for multifamily contracts.
Does this statement even run through your head? “I get lots of leads, but most don’t turn into sales…”
Don't worry. You're not alone. Study after study shows a gap between getting someone's attention and getting them to actually commit to buying. A 2022 study shows that just 3% of people who visit your website or review your online business profile are ready to buy.
So, what can you do? You have to look at your customer journey closely. Do you have a system that nurtures leads and ensures they get the right attention?
The good news is that you can start improving your customer journey with just a few simple changes. A big part step is making sure your sales team understands and relates to the problems homeowners are facing now. If you can better understand today's buyer, you'll have a stronger chance to convert that lead.
We've got you covered. We've assembled a guide you can email to your sales team TODAY that outlines five top homeowner pain points you need to know in 2023. This resource is backed by hard data from top survey firms and industry experts, giving you insights that will help you close more deals.
Homeowners are looking for solutions; you're just the company to provide them. Get this downloadable guide for free by clicking on the link in our show notes.
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