A recent report published by Anielski Management demonstrates the B.C. Construction Association’s (BCCA) Skilled Trades Employment Program (STEP) delivers both a positive quality-of-life impact for skilled workers, and a timely return on taxpayer dollars.
Mark Anielski, author of The Economics of Happiness: Building Genuine Wealth, is an expert in the field of the economics of well-being and happiness. He conducted an independent assessment of the economic well-being impacts of BCCA programs to help construction employers to source job-ready workers. The programs are demand-driven, providing customized assistance to B.C. employers, while supporting candidates who demonstrate a fit for the trades.
On the $7.55 million invested in STEP, Anielski calculated an economic return of $8.17 million in annual income tax benefits to government, and a reduction of income assistance payments of $1.11 million, for a total societal benefit of $9.28 million. That return on investment occurred over less than 10 months.
“By March 2014, STEP’s programs will have placed roughly 7,000 British Columbians into skilled trades jobs,” said Manley McLachlan, BCCA president.
“Our team makes 6,000 points of contact each year with B.C. construction employers. With more than 50 staff in the field, we are operating the most connected, effective HR program in the industry.”
The BuildForce Canada report Construction Looking Forward predicts a shortfall of 30,500 skilled workers in B.C. by 2021.