MORRISTOWN, N.J., Feb. 22, 2021 /PRNewswire/ -- Following a year
marred by the impact of COVID-19 on new construction and
infrastructure projects nationwide, the Crane industry still
anticipates the effects of the pandemic to be the biggest near-term
challenge it faces. Perhaps surprisingly, however, there is another
risk the industry sees on the horizon, and one that it considers to
be an even worse safety risk than COVID.
According to a recent survey by ProSight Specialty Insurance,
the biggest safety risk facing the Crane industry is a lack of
qualified talent—particularly at the Crane Operator position.
Talent was also tied for the second biggest business challenge for
Crane companies over the next three years (along with Growth/New
Business), behind only the pandemic.
"It's no surprise that Crane companies are still feeling the
effects of COVID on their businesses and that they likely will for
some time. But this is something outside of their control," said
Jake Morin, Construction Value
Creation Executive at ProSight. "Lack of qualified talent is a
legitimate concern and the issue presents obvious safety and
sustainability risks to the industry overall. The time for the
industry to take action on its talent pipeline is now."
ProSight's survey, which was conducted at the end of 2020 among
over 150 crane industry professionals, found that while 26% of
respondents viewed COVID as the biggest industry challenge, a lack
of "Qualified Talent" was the seen as the next biggest challenge
(9%) over the next 1-3 years.
However, when asked about the most serious safety risks facing
the industry, 27% of respondents identified lack of talent,
particularly among operators, as the biggest concern. Equipment
Issues (15%) and On-the-job accidents (13%) rounded out the top
three safety risks, with COVID identified by only 2% of
respondents.
ProSight's Niche Underwriting Manager for its Crane program,
Joe Doerr, has personal experience
with the industry's talent pipeline issues. As a former crane
operator, Joe has advocated strongly for increased training and
safety protocols for operators and other construction
professionals. But he also sees the need to balance this investment
with additional recruitment efforts to attract the next generation
of engineering talent to the industry.
"I've 'sat in the cab,' as they say, and I know firsthand the
importance of having well-trained, experienced operators on the
job. I also know that it can be a struggle for companies to find
that 'next generation' of qualified talent," said Doerr. "But the
truth is operating a crane requires a tremendous amount of
mechanical skill and understanding of numerous engineering
principles. It can be an incredibly rewarding and enriching career
path, and we need to come together to find ways to communicate the
industry's value to students and young professionals who otherwise
wouldn't pursue a career in construction."
Click Here to download the ProSight 2021 Crane Survey
Infographic.
To learn more about ProSight's Crane program visit
www.prosightspecialty.com/solutions/crane
Methodology: Research was conducted via an online survey among
154 prospective crane customers without any affiliation to ProSight
Specialty Insurance. The audience was defined through the use of
LinkedIn demographics as crane rental owners, crane operators,
riggers, equipment operators, or those having an affiliation with a
crane member group. The survey ran from December 15-31, 2020.
About ProSight
Founded in 2009 and headquartered in Morristown, New Jersey, ProSight Global, Inc.
is an innovative property and casualty insurance company that
designs unique insurance solutions to help customers improve their
business and realize value from their insurance purchasing
decision. The company focuses on select niche industries, deploying
differentiated underwriting and claims expertise with the goal of
enhancing each customer's operating performance. ProSight's
products are sold through a limited and select group of retail and
wholesale distribution partners. Each of ProSight's regulated
insurance company subsidiaries are rated "A-" (Excellent) by A.M.
Best. ProSight's shares trade on the NYSE under the ticker symbol
PROS. To learn more about ProSight visit
www.prosightspecialty.com.
Inquiries:
Joe Hathaway
Corporate Communications Director
JHathaway@prosightspecialty.com
973-532-1706
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SOURCE ProSight Global, Inc.