Training in financial literacy and sustainable business practices essential for builders
Apprenticeship programs in New Zealand need to include business training to address the mental health crisis in the country's construction sector, according to a leading business coach and mentor in the building sector.
Marti Amos, the New Zealand-based head of The Professional Builder, made the call as he pointed out that builders without a proper understanding of financial management are left working long hours and facing severe cash flow challenges.
"At the moment they're stuck on the builder's 'hamster wheel,' caught in the weeds of daily operations without the skills to manage the large sums of money and complex challenges that come with running a construction company," he said in a statement.
"What we need is to implement business training into apprenticeship programs to ensure that our future generations of builders are as adept at managing large-scale financial responsibilities as they are at delivering quality craftsmanship."
Financial challenges contribute to the deteriorating mental health of New Zealand's builders.
Research from the Building Research Association of New Zealand (BRANZ) last year revealed financial instability is the most significant workplace-based psychosocial stressor for workers.
Low pay and job insecurity in the wake of a cost-of-living crisis are also adding to the stress experienced by workers, according to the BRANZ report.
These stressors come as the research noted that men working in the construction industry from 2007 to 2019 have a suicide rate of 19.71 per 100,000 people. This is much higher than the 14.44 per 100,000 for men outside the industry.
"Our construction workers account for about seven per cent of working-age male suicides - with nearly one worker losing his life to suicide each week and the avoidable burden and impact of suicide in the NZ construction industry has been estimated at $1.1 billion per annum," Amos said.
This mental health crisis among New Zealand's builders underscores the importance of implementing reforms within the industry, according to Amos.
"As New Zealand's construction industry stands at a crossroads, stakeholders must adopt a more balanced training model - one that nurtures not only technical excellence but also financial literacy and sustainable business practices," he said.
"This call for change is more than an economic imperative; it is a matter of safeguarding the well-being of those who build our nation."
The New Zealand government in 2022 signed a two-year partnership with MATES in Construction to improve workplaces and boost construction workers' mental health to prevent suicide.
